January 24, 2020

Blackstone Receives Notice on Novel Exemptive Application under the 1940 Act

On January 21, 2020, the SEC issued a “notice” relating to an exemptive application filed by Blackstone Alternative Investment Funds (Blackstone Trust) and Blackstone Alternative Investment Advisors LLC (Blackstone). The application requests relief that would permit the Blackstone Trust’s board of trustees to approve new sub-advisory agreements and material amendments…

Continue reading...

January 16, 2020

Major Exchanges for ETFs Have Filed Proposed Rule Changes to Establish Generic Listing Standards for ETF Shares Permitted to Rely on Rule 6c-11

NYSE Arca, Inc., the Nasdaq Stock Market LLC (NASDAQ), and Cboe BZX Exchange have filed proposed rule changes with the SEC to establish generic listing standards for exchange-traded funds (ETFs) that are permitted to operate in reliance on Rule 6c-11 under the 1940 Act. The proposed changes would largely simplify…

Continue reading...

January 16, 2020

SEC Proposes to Modernize Auditor Independence Rules

On December 30, 2019, the SEC proposed amendments to codify certain staff consultations and modernize certain aspects of its auditor independence regulatory framework (Proposed Amendments). The Proposed Amendments are intended to eliminate non-substantive rule breaches and unnecessary reviews by audit committees of non-substantive matters (i.e., relationships and services that would…

Continue reading...

January 8, 2020

Non-Transparent ETF Sponsors Request Additional Relief

Since the SEC issued orders to grant exemptive relief requested in applications filed by Blue Tractor Group, LLC, Fidelity Management & Research Company, Natixis Advisors, L.P., and T. Rowe Price Associates, Inc. to launch a type of non-transparent exchange-traded fund (NT ETF) that follows a proxy portfolio model on December…

Continue reading...

Menu