Noting that they believe a more viable customer relationship summary (CRS) form can still be developed by the SEC as part of its Regulation Best Interest proposal, a group of retiree and investor advocacy organizations has published a report calling the draft CRS form misleading and unhelpful.
The SEC included these proposals as part of its proposed best interest standards for investment advisers.
The agency has issued a proposal that would make it easier for ETFs to come to market.
The leader of Sullivan & Worcester's Capital Markets Group analyzes the SEC’s recent move to double the limit of equity compensation that can be awarded by private companies in any 12-month period without requiring detailed disclosures; he also urges stakeholders to respond to the SEC's open call for comment about equity compensation under Rule 701.
The SEC solicited public comment on potential changes to the regulator’s treatment of equity compensation, tied to the emergence of the “gig economy.”
State Street replies that "since the overcharging was discovered [we] have substantially enhanced our controls."
Participants in non-ERISA 403(b) plans could be considered "retail customers" under a section of the SEC's proposal, a law alert warns.
The brokerage firm will pay more than $15 million in settlement.
The Commission is also seeking public feedback on fund disclosure and the fees that intermediaries charge funds for delivering fund reports.
Instead of making the disclosure on Form N-PORT on a quarterly basis, firms would discuss their liquidity risk programs in their annual statements.