08.04.20
‘Next Steps’ for Advertising Rule Coming: SEC Official
by: Melanie Waddell
The SEC's Division of Investment Management plans to recommend “next steps” on various outstanding proposals such as changes to the investment advisor advertising and solicitation rule sometime this year, according to the agency’s investment management director, Dalia Blass. The agency is still digesting the comments that have come in regarding the definition of advertising—the scope—and “the compliance review aspect of the proposal” as well as “where those two areas can present potential problems.” Blass also reports that target date funds and closed-end funds of private funds could provide “enhanced access to private investments." "Target date funds could, for example, invest in private markets as a way to diversify risk and potentially enhance portfolio returns," she says. "At the same time, private investments would be capped to 15 percent of the fund’s portfolio."
Read the full article on Think Advisor.