The Securities and Exchange Commission (the "SEC") voted recently to adopt new Rule 22e-4 under the Investment Company Act of 1940, as amended (the "1940 Act"), (the "Rule")1 that will require registered open-end management investment companies, ...

Seward & Kissel LLP


40 Act Blog - 5 new articles


SEC Adopts Liquidity Risk Management Program Requirements

The Securities and Exchange Commission (the "SEC") voted recently to adopt new Rule 22e-4 under the Investment Company Act of 1940, as amended (the...

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SEC Proposes Rule Amendment to Expedite Securities Transaction Settlement Process

The Securities and Exchange Commission (“SEC”) recently proposed an amendment to Rule 15c6-1(a) under the Securities Exchange Act of 1934...

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New IRS Regulations Would Require RIC Commodity Subsidiaries To Distribute Income

On September 27, the Internal Revenue Service (the "IRS") issued Proposed Regulations that would require "commodity subsidiaries" of regulated...

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Two Firms Charged with Compliance Failures in Wrap Fee Programs

The Securities and Exchange Commission ("SEC") recently announced that it settled charges with two investment advisory firms related to compliance...

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OCIE Undertakes Initiative to Examine Registered Investment Advisers that Employ Individuals with a History of Disciplinary Events

In a recent risk alert, the SEC’s Office of Compliance Inspections and Examinations (“OCIE”) stated that it intends to examine compliance...

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