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ETFs for ERISA Plans: Operational Barriers and Potential Benefits

Exchange-traded funds (ETFs) have gained an increasing foothold in the wealth-management investment universe, with ETF assets under management currently about half the assets under management of mutual funds. As the ETF...more

SEC Staff Issues Updated Marketing Rule FAQs

SEC Staff published new guidance providing private fund managers and other investment advisers with flexibility to use extracted performance and portfolio/investment characteristics in marketing materials, without cumbersome...more

Current Developments in SEC Examinations & Enforcement: A Special Report for Private Funds 2022-2023

Private funds were a major focus of the US Securities and Exchange Commission’s (SEC’s or Commission’s) enforcement and rulemaking programs in 2022, and we expect 2023 to be even more active. The Division of Examinations’...more

ETF Roundup – Issue 7 December 2021

UPDATE ON CRYPTO ASSETS IN ETFS - In 2018, the US Securities and Exchange Commission’s Division of Investment Management staff penned a letter to the Investment Company Institute and the Securities Industry and Financial...more

SEC Examination Staff Outlines Observations of Registered Fund Compliance Risks

The Division of Examinations staff of the US Securities and Exchange Commission (SEC) published a risk alert on October 26, 2021, titled “Observations from Examinations in the Registered Investment Company Initiatives,” which...more

SEC Adopts Comprehensive Framework for Fund of Funds Arrangements

On October 7, 2020, the US Securities and Exchange Commission (SEC) adopted Rule 12d1-4 (Rule) under the Investment Company Act of 1940 (Act) and related amendments (Amendments) that are collectively designed to provide a...more

ETF Roundup – Issue 6

GENERIC LISTING STANDARDS FOR ETFS RELYING ON RULE 6C-11 APPROVED - The US Securities and Exchange Commission (SEC) has approved generic listing standards proposed by NYSE Arca, Inc., Cboe BZX Exchange, Inc., and The Nasdaq...more

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