This blog was updated 2/17/21 It has been over 50 years since the Securities and Exchange Commission (SEC) comprehensively addressed valuation rules with respect to the fair value of investments held by registered funds. On Thursday, December 3, 2020, the SEC finalized the new Rule 2a-5 under...
Read MoreThis blog was updated 2/17/21 Last week, the Securities and Exchange Commission (SEC) continued its modernization plan, significantly altering the framework for derivatives used by registered investment companies (including mutual funds, ETFs, closed-end funds and business development companies)...
Read MoreTo address the myriad of regulations over the investment industry, the U.S. Securities and Exchange Commission (SEC) provides a variety of guidance and reference materials to industry stakeholders. As a part of that effort, since November 1994, the Chief Accountant’s Office within the SEC...
Read MoreIn today’s world, the ability to obtain relevant information quickly and effectively is crucial to making informed decisions. Last week, the Securities and Exchange Commission (SEC) continued its push to modernize shareholder reporting for mutual funds and exchange traded funds (ETFs) by...
Read MoreFrom product consolidation, to remote workforce technology, to novel types of investing — 2020 is a year of change that promises to flow into 2021 and beyond. Below are nine trends we are watching in the investment industry.1. Product Rationalization and ConsolidationMost asset managers...
Read MoreTwo recent regulatory changes — Private Funds Law 2020 and Mutual Funds (Amendment) Law 2020 — will require previously exempt Cayman Islands funds to now register with the Cayman Islands Monetary Authority (CIMA). While the changes will require affected funds to expend more time, cost...
Read MoreWhile there have been a lot of changes in the investment industry over the past 50 years — in the variety of investment types, pricing providers, pricing models, accounting and auditing requirements, compliance changes and the complexity of investments — it’s been that long...
Read MoreThe current economic environment is anything but run-of-the-mill. Markets are volatile. Uncertainty is ubiquitous. As mutual fund advisors navigate the seas of change, their audit committees should take a deeper look at potential obstacles to upcoming financial reporting cycles and what aspects...
Read MoreCOVID-19 is extending beyond the health arena into every aspect of our work and personal lives. It’s safe to say that everybody’s lives have been dramatically affected. As businesses scramble to reevaluate their strategies for the rest of the year, U.S. regulatory agencies are looking...
Read MoreIn addition to the fiscal distribution requirements that govern Regulated Investment Companies (RICs) under Internal Revenue Code (IRC) Subchapter M, all RICs are required to comply with the excise tax rules under IRC Section 4982. The excise tax rules are intended to accelerate payment of tax to...
Read More