New Final Rule: SEC to Modernize Closed-End Fund Requirements

New Final Rule: SEC to Modernize Closed-End Fund Requirements WHAT HAPPENED? On April 8, 2020, the United States Securities and Exchange Commission adopted a new final rule which will modernize business development company (BDC) and closed-end fund (CEF) requirements to meet those already applied to operating companies. The new [...]

By | 2020-05-19T15:20:34+00:00 May 19th, 2020|FilePoint® Flash Reports, Regulatory Updates|

New Final Rule: Summary Prospectus for Variable Annuities

New Final Rule: Summary Prospectus for Variable Annuities WHAT HAPPENED? Recently, the Securities and Exchange Commission adopted a new final rule, 498A, and form amendments which intend to modernize disclosure requirements and allow investors to make more informed decisions about variable annuity and variable life insurance contracts. The new [...]

By | 2020-04-18T11:51:13+00:00 April 17th, 2020|FilePoint® Flash Reports, Regulatory Updates|

The SEC Issues Regulatory Relief Amid Form ID and Notarization Challenges

The SEC Issues Regulatory Relief Amid Form ID and Notarization Challenges WHAT HAPPENED? On March 23, 2020, the SEC acknowledged in an announcement that it is aware of challenges with meeting certain requirements for initial access to the EDGAR filing system; in particular, the Form ID application process and [...]

SEC Issues Additional Relief and Guidance as COVID-19 Creates Obstacles

SEC Issues Additional Relief and Guidance as COVID-19 Creates Obstacles WHAT HAPPENED? In response to the unusual state of global securities infrastructures stemming from COVID-19, the SEC is continuing to provide regulatory relief to struggling entities. This week, the SEC expanded on a recently released relief package to extend [...]

How and Why to File Form N-LIQUID

How and Why to File Form N-LIQUID WHAT HAPPENED? The ripple-effects of the COVID-19 pandemic continue to spread, causing overall market volatility and even market closings in some countries. These fluctuating circumstances may affect funds’ liquidity, triggering some of the SEC’s liquidity risk management initiatives. One requirement of these [...]

COVID-19 UPDATE: SEC to Allow Virtual Board Meetings

COVID-19 UPDATE: SEC to Allow Virtual Board Meetings WHAT HAPPENED? In response to the international COVID-19 outbreak, the SEC is providing regulatory relief to those who are significantly affected by the pandemic. Due to travel, lodging, and other restrictions imposed by the pandemic, the SEC is allowing for virtual [...]

COVID-19 UPDATE: A Breakdown of the SEC’s Regulatory Relief Provisions for Filings and Documentation

COVID-19 UPDATE: A Breakdown of the SEC’s Regulatory Relief Provisions for Filings and Documentation ***UPDATE*** On March 23 and 25, 2020, the SEC released further extended dates for the items listed below.  COVID 19: HOW DOES IT AFFECT FILINGS? While the international COVID-19 outbreak [...]

COVID-19 UPDATE: How the SEC Continues Its Response Efforts

COVID-19 UPDATE: How the SEC Continues Its Response Efforts WHAT HAPPENED? As efforts to contain the COVID-19 virus expand worldwide, the SEC is remaining focused on maintaining a fair and orderly market and continuing its own operations. The Commission has transitioned most of its staff to work remotely and [...]