Private Markets Regulatory Trends Update: A Focus on Performance
We invite you to join us as we dive into regulatory and industry considerations around performance measurement for private markets firms.
Compliance teams are constantly challenged to keep pace with ever-evolving regulatory change while navigating the pressures of geopolitical threats, economic crises, and third-party risks. Uncertain times require a nimble approach to achieve compliance and address business priorities in new ways to enable innovation and growth while minimizing risk.
As the global regulation continues to change, it's key that you keep up to speed with latest developments. Here we capture the latest compliance trends, industry insights, risk alerts, and events.
The SEC's new rule amendments for mutual funds and ETFs aim to provide concise shareholder reports and require physical delivery instead of online posting. The amendments also introduce new advertising requirements for fee and expense figures.
The SEC issued guidance on the Care Obligation of Reg BI, emphasizing understanding risks, obtaining investor information, considering alternatives, and exercising caution with complex products.
New SEC rules require standardized categorization, machine-readable filing, and sharing of mutual fund proxy votes and shares, with say-on-pay votes reported on Form N-PX by institutional investment managers worth $100 million or more only if they vote.
This update includes insights on the third SEC Bulletin on Reg BI and Fiduciary Standard of Care, Ransomware Reminders, New N-PX Reporting, and the looming FTC Safeguards Rule.
With the SEC's no-action letter temporary relief coming to an end, broker-dealers who accept hard dollar payments for research from EU/UK asset managers must carefully evaluate their registration options to comply with the Investment Advisers Act of 1940.
The SEC is focusing on private funds and issued a risk alert in January 2022 outlining common deficiencies observed during private fund exams. Private fund managers should review their compliance programs to avoid these deficiencies.
We invite you to join us as we dive into regulatory and industry considerations around performance measurement for private markets firms.