Catagory:Uncategorized

1
Australia: ASIC is Remaking Exchange Traded Funds Class Order Relief
2
U.S. Congressional Hearing on Oversight of SEC’s Division of Investment Management
3
EU Regulators launch review of SFDR compliance in the investment fund sector
4
SEC Passes New Money Market Fund Rules: Swing Pricing is Out and Mandatory Liquidity Fees are In
5
Australia: ASIC Releases Update on Recent Enforcement Action in Australia and Guidance for Target Market Determinations

Australia: ASIC is Remaking Exchange Traded Funds Class Order Relief

By: Matthew Watts and Lisa Lautier

The Australia Securities and Investment Commission (ASIC) have released Consultation Paper 374 proposing to remake Class Order [CO 13/721] Relief to facilitate quotation of exchange traded funds on the AQUA Market (Class Order) which is due to expire on 1 April 2024.

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U.S. Congressional Hearing on Oversight of SEC’s Division of Investment Management

By: Megan Clement

On 19 September, U.S. Congress’ Sub-Committee on Capital Markets held a hearing on oversight of the SEC’s Division of Investment Management during which Director William Birdthistle testified on various SEC proposed rules affecting investment funds and advisers.

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EU Regulators launch review of SFDR compliance in the investment fund sector

By: Shane Geraghty and Áine Ní Riain

On 6 July, the European Securities and Markets Authority (ESMA) announced it had launched a Common Supervisory Action (CSA) with National Competent Authorities (NCAs) on the integration of sustainability risks and on sustainability-related disclosures in the investment fund sector.

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SEC Passes New Money Market Fund Rules: Swing Pricing is Out and Mandatory Liquidity Fees are In

By: Max Black, Michael Davalla and Cal Gilmartin

On July 12, 2023 the SEC adopted rules applicable to money market funds (“MMFs”). The new rules change: (i) liquidity thresholds; (ii) liquidity fees and redemption gates; (iii) options for responding to negative interest rate environments; and (iv) reporting obligations. Importantly, the SEC declined to impose swing pricing mechanisms on MMFs depending on their net redemptions. The new rules institute mandatory liquidity fees for institutional prime funds and institutional tax exempt funds.

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Australia: ASIC Releases Update on Recent Enforcement Action in Australia and Guidance for Target Market Determinations

By Jim Bulling and Anabelle Weinberg

1.         ASIC enforcement and regulatory update reveals areas of focus

ASIC has published their enforcement and regulatory update outlining the key actions taken between 1 July and 30 September 2022 (REP 753).

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