SEC Officials Highlight Regulatory Priorities For Asset Management

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.