July 1, 2022
The SEC recently published a request seeking public comment (Request) on whether index providers, model portfolio providers and pricing services (together, “information providers”) should be regulated as investment advisers under the Investment Advisers Act of 1940 (Advisers Act) due to the nature of their activities. The Request notes the significant growth of information providers in recent years and their impact on the asset management industry, including with respect to investor protection and market risk. The Request seeks comments on a wide variety of topics, including the following:
The Request also specifically seeks comment on certain aspects of the Investment Company Act of 1940 (1940 Act) regulatory regime with respect to information providers, including the following:
Comments are due on or before August 16, 2022.
The SEC’s press release can be found here.
The SEC’s Request can be found here.
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