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McIntyre & Lemon: > News (Page 3)

SEC Proposes Significant Equity-Market Reforms – December 16, 2022

On Wednesday, the SEC published for comment over 1600 pages of new rule proposals focused on significant reforms to the nation’s equity securities markets, marking the most significant regulatory reforms of the equity markets since Regulation NMS was proposed in March 2004. These proposals are currently out for comment until most likely the end of the first quarter of 2023 or March 31, 2023, depending on the publication date of these initiatives in the Federal Register....

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SEC Proposes Due Diligence and Monitoring Rule for Investment Advisers Comment Period Ends December 27, 2022

The Securities and Exchange Commission (“SEC” or “Commission”) proposed new rulemaking, Rule 206(4)-11 under the Investment Advisers Act of 1940 (“Act”), to require investment advisers to perform a diligence review of and periodically monitor certain outsourced services and service vendors.1 Proposed Rule 206(4)-11 prescribes four basic regulatory obligations in respect of outsourced arrangements: (1) vendor diligence, (2) vendor monitoring, (3) books and records documentation, and (4) disclosure. ...

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SEC Modernizes Records Preservation By Registered Broker-dealers

SEC ELECTRONIC RECORDS PRESERVATION RULE – RULE 17a-4(f) Amendments to the preservation of records storage prescribed by Rule 17a-4(f) and related undertakings under the Securities Exchange Act of 1934 (“Exchange Act”) become effective January 3, 2023, with a compliance date of May 3, 2023....

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SEC’S Marketing Rule Compliance Date – November 4, 2022

In December 2020, the SEC materially reformed rules governing the marketing practices of investment advisers, including rules governing an adviser’s fund-raising efforts for private investment funds – funds excluded from regulation under the Investment Company Act of 1940 (“1940 Act”)....

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