May 26, 2021

NYSE Arca Receives Approval for Proposed Rule Change to Exempt Funds from Shareholder Approval Requirements in Connection with Certain Acquisitions

On May 14, 2021, the NYSE Arca, Inc. (NYSE Arca) received approval from the SEC to implement a proposed rule change to exclude certain listed funds, including ETFs, from a requirement in NYSE Arca’s corporate governance rules (Rule 5.3-E(d)(9)) to obtain shareholder approvals for the issuance of securities…

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May 20, 2021

SEC Issues Statement on Funds Investing in Bitcoin Futures

In a statement issued on May 11, 2021 (Statement), the staff of the SEC’s Division of Investment Management (IM) addressed their concerns arising under the 1940 Act and the rules thereunder with funds investing in Bitcoin futures.  The IM staff noted its understanding that certain mutual funds are…

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