SEC Officials Highlight Regulatory Priorities for Asset Management



United States: SEC officials highlight regulatory priorities for asset management

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At the meeting of the SEC Asset Management Advisory Committee (“AMAC”), SEC officials examined asset management priorities under regulatory review.

SEC Chairman Gary Gensler Underline (i) improve fund information, (ii) regulate digital engagement practices, and (iii) improve the resilience of the money market and open funds. In addition, Mr. Gensler said he had asked staff to produce recommendations on (i) improving the transparency of private funds and (ii) imposing criteria for naming “green” funds.

SEC Commissioner Hester Peirce said she supported the final recommendations of the AMAC Small Advisors and Funds Sub-Committee to (i) modify the definition of “small entity” to more reflect the fact that “most investment advisers are small entities”, (ii) address the regulatory burden faced by small advisers and (iii) allow investment advisers and funds to transmit all their communications electronically by default.

SEC Division of Investment Management Acting Director Sarah ten Siethoff declared that staff assess (i) whether predictive data analytics algorithms improve investor returns, (ii) how to resolve conflicts of interest resulting from the use of these algorithms, and (iii) how FinTech can improve investor experience, while dealing with risks and conflicts of interest.

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