Topics include

New Rules, Proposed Rules and Guidance

• SEC Staff No-Action Letter Permits Index ETF to Exceed 1940 Act Limits on Investments in Insurance Companies and Securities-Related Issuers
• Division of Investment Management Issues Guidance on Fund Disclosure Reflecting Risks Related to Current Market Conditions

Public Statements, Press Releases and Testimony

• SEC Chair Mary Jo White Addresses Several Topics Regarding Mutual Fund Directors, Including Enforcement Actions and Oversight of Operational, Liquidity and Cybersecurity Risks

Litigation and Enforcement Actions

• SEC Settles Charges Against AIG Affiliates for Mutual Fund Sales Conflicts
• U.S. District Court Rules in Favor of Defendants on Remaining Claims in Schwab Case Relating to Violation of Fundamental Investment Policies

Other News and Developments

• ICI Issues Memo Regarding the Adequacy of Fund Policies, Procedures and Disclosures In Light of Unanticipated Events on Securities Trading Venues

To read the Regulatory Update, click the link below.