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In a recent report, Asset Management Regulatory Year in Review 2024, global law firm K&L Gates reviewed last year's regulatory changes for asset managers. "The regulatory activity was
wide ranging and without a particular unifying theme.
In fact, the wide, and in cases diverging focuses of
key global regulators requires asset managers to
closely review what has happened, and potentially
more importantly, keep tabs on what is likely to
happen going forward," the report says.
Here are some of the themes:
United States
- The SEC finalized several rules, including amendments to mutual fund liquidity regulations, Regulation S-P, and Form PF
- Several major SEC rulemakings were halted or invalidated, including:
- Climate-related risk disclosure rules (stayed voluntarily)
- Private fund adviser rules (vacated by Fifth Circuit)
- Expanded "dealer" definition (vacated)
- Supreme Court limited SEC's enforcement flexibility in SEC vs. Jarkesy
- Department of Labor amended QPAM requirements and saw continued litigation around the fiduciary rule
- FDIC proposed regulations addressing bank ownership concentration by asset managers
- US Treasury adopted new regulations regarding investments in Chinese issuers
- "Anti-ESG" movement continued but faced setbacks in court
- SEC approved Bitcoin and ......................To view our full article Click here
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