Regulatory and Legislative Corner
Advocacy is one of the central objectives of The Asset Managers Forum Senior Executives Group. As such, below is a list of regulatory reforms, proposed rules, concept releases and legislation that could affect the businesses of asset management firms. If you have an interest and would like to address any of the current regulatory or legislative issues, please contact Joseph Sack, Executive Director of the Senior Executives Group.
SEC Concept Releases
September 27, 2004SEC is seeking industry comment on the use of tagged data in certain Securities Exchange Act and Investment Company Act filings more...
March 11, 2004SEC is seeking industry comment on how it can help the securities industry achieve STP more...
December 22, 2003SEC is seeking industry comment on issues related to the disclosure of mutual fund transaction costs, including soft dollars more...
SEC Final Rulings
September 2, 2004The SEC prohibits funds from paying for the distribution of their shares with brokerage commissions more...
August 23, 2004The SEC requires disclosure of Side-by-Side Management more...
July 27, 2004The SEC requires mutual fund boards to have independent chairman and set other requirements more...
July 2, 2004The SEC requires registered investment advisers to adopt and enforce a code of ethics more...
June 23, 2004The SEC requires mutual funds to improve disclosure regarding how their boards of directors evaluate and approve investment advisory contracts more...
June 7, 2004The SEC adopts amendments to require an open-end management investment company to provide enhanced disclosure regarding breakpoint discounts on front-end sales loads more...
May 10, 2004SEC requires investment management firms to improve disclosure within shareholder and quarterly reports regarding fund costs, portfolio investments and past performance more...
April 13, 2004Effective December 5, 2004, the SEC will adopt disclosure rules relating to market timing, fair value pricing, and selective disclosure of portfolio holdings more...
February 27, 2004SEC requires greater disclosure within shareholder and quarterly reports more...
December 17, 2003SEC adopts amendments to current compliance rules for asset management firms more...
SEC Proposed Rules
September 27, 2004The SEC is seeking industry comment on whether to enable registrants to submit voluntarily supplemental tagged financial information using the eXtensible Business Reporting Language (XBRL) format more...
July 20, 2004SEC may require hedge fund managers to register with the Commission more...
Commissioners Cynthia A. Glassman and Paul S. Atkins offer an offical dissent as part of this proposal more...
SEC may implement new rules for asset-backed securities that are intended to increase market efficiency and transparency more...
March 11, 2004SEC may require disclosure if side-by-side management exists more...
March 5, 2004SEC may require mutual funds to impose a two percent redeption fee that would discourage the practice of short-term trading more...
February 24, 2004SEC many prohibit asset management firms to use brokerage commissions to finance the distribution of mutual fund shares more...
February 11, 2004SEC may require asset managment firms to disclose to shareholders the reasons and circumstances surrounding major decisions made by the firm's board of directors more...
January 29, 2004SEC may require broker dealers to provide their customers "targeted information" regarding the costs from the distribution of mutual fund shares and if a potential conflict of interest exists. In addition, the Commission is proposing further disclosure and information relating to mutual funds and call features more...
January 20, 2004SEC may require registered investment advisors to adopt a code of ethics more...
January 15, 2004SEC may require mutual funds to adopt certain governance practices more...
December 17, 2003SEC may require mutual funds to enhance disclosure regarding breakpoint discounts on front-end sales load more...
December 11, 2003SEC may amend rules to prevent unlawful late trading in mutual fund shares more...
December 11, 2003SEC may require firms to improve disclosure regarding market timing and the portfolio holdings of fund managers more...