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SEC Officials Highlight Regulatory Priorities for Asset Management
Friday, November 5, 2021

At the SEC Asset Management Advisory Committee ("AMAC") meeting, SEC officials reviewed asset management priorities under regulatory consideration.

SEC Chair Gary Gensler highlighted (i) improving fund disclosures, (ii) regulating digital engagement practices and (iii) improving the resiliency of money market and open-end funds. In addition, Mr. Gensler said he had asked staff to produce recommendations on (i) enhancing private fund transparency and (ii) imposing criteria for "green" fund naming.

SEC Commissioner Hester Peirce said she supported the AMAC's Small Advisers and Small Funds Subcommittee final recommendations to (i) amend the definition of "small entity" to be more reflective of the fact that "most investment advisers are small entities," (ii) address the regulatory burden faced by small advisers and (iii) enable investment advisers and funds to deliver all their communications electronically by default.

SEC Division of Investment Management Acting Director Sarah ten Siethoff stated that the staff is assessing (i) whether predictive data analytics algorithms improve investor returns, (ii) how to address any conflicts of interest arising from the use of such algorithms and (iii) how FinTech can improve the investor experience, while addressing any related risks and conflicts of interest.

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