SEC Outlines Investment Management Agenda

November 16th, 2015

SEC Outlines Investment Management Agenda

In late October, the House Financial Services Committee hosted a hearing to discuss the efforts of the Securities and Exchange Commission (SEC) Division of Investment Management.  David Grim, Director of the Investment Management Division at the SEC, testified before members of Congress.  Grim discussed the agency’s regulatory agenda for investment companies, variable insurance companies, and investment advisers over the next year.

The SEC plans to finalize proposed rulemakings to modernize investment company reporting.  The agency will also seek to finalize new rules to require open-end funds to implement liquidity management programs.  Grim presented some of the areas for additional rulemaking that are currently under consideration, including regulations governing the use of derivatives by investment companies, transition plans for investment advisers, stress testing for large investment advisers and large investment companies and third party compliance review. Grim and committee representatives also brought up the agency’s efforts to establish a uniform fiduciary standard of conduct for broker-dealers and investment advisers pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act).

Resources:

HFSC Hearing:

Grim’s Testimony:

Press: