May 11, 2018

SEC Division of Investment Management Director Makes Remarks at the PLI 2018 Investment Management Institute Program

Dalia Blass, the SEC’s Director of Division of Investment Management (“IM”), made remarks at the Practicing Law Institute’s 2018 Investment Management Institute program in New York on April 30, 2018. She discussed the recent SEC rule proposals on the standards of conduct for investment professionals, which she said seek…

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May 11, 2018

SEC Staff Updates FAQs on Upcoming Fund Reporting Changes to Address Form N-SAR Filing Obligations

The staff of the SEC Division of Investment Management (the “IM staff”) recently updated its frequently asked questions and answers (“FAQs”) document related to the investment company reporting modernization reforms adopted in October 2016 and revised in December 2017. Form N-SAR is scheduled to be rescinded on June 1,…

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May 11, 2018

SEC Proposes Amendments to Auditor Independence Loan Rule

On May 2, 2018, the SEC proposed amendments to its rule regarding the analysis of auditor independence with respect to lending relationships between the auditor and certain shareholders of an audit client. The proposed amendments would (1) focus the analysis regarding auditor independence solely on beneficial ownership rather than…

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