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SEC Revises Regulations for Derivatives Usage by Registered Funds and Business Development Companies

On October 28th, the SEC adopted a new rule and rule revisions to the regulatory framework for derivatives usage under the Investment Company Act. The enhancements will provide an updated and thorough approach to the regulation of registered investment funds’ derivatives usage that reflects developments over the past decades and focuses on investor protection matters. The Investment Company Act generally limits registered funds and business development companies from engaging in transactions that involve potential future payment obligations. This may include obligations under derivatives such as forwards, futures, swaps and written options. The new rule allows funds to enter into these transactions if they comply with conditions designed to protect investors, such as adopting a derivatives risk management program and complying with a limit on the amount of leverage-related risk that the fund may obtain based on value-at-risk (VaR).

Posted: October 30, 2020 12:43 pm by The Novaworks Team in SEC News, Filer News

SEC, CFTC Approve Final Rule on Security Futures Margin and Request Comments on Portfolio Margining

October 27, 2020 11:40 am – The SEC and the CFTC convened for their first collaborative open meeting, which reflects the organizations’ long history of cooperation regarding the joint regulation of margin requirements for security futures and the agencies’ strong commitment to harmonizing efforts where appropriate. [...]

XBRL US to Present October 28 Webinar: Standards for Regulators – Defining and Readying the Data Model

October 23, 2020 9:45 am – XBRL US will host a free webinar on Wednesday, October 28 to discuss whether regulators can build an efficient, cost-effective data standards program that establishes a long-term infrastructure while allowing for rapid responses to changing reporting needs. [...]

SEC to Host Virtual Panel with Women Entrepreneurs of Color on October 28th

October 22, 2020 5:00 pm – The SEC has announced that it will host a free, virtual webinar entitled “Women of Color Entrepreneurs on Being Powerful Voices for Access to Capital” on October 28, 2020 at 7 p.m. ET. [...]