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More Summer Reading

Jun 20, 2019 9:28:20 AM / by Bo J. Howell posted in SEC Updates, ETFs, Security

Last week we published an article about the SEC’s most recent cyber examinations and risk alerts. The week before we noted in our curated articles that the SEC is focused on oversight of technology vendors (like us).  If you still doubt the SEC’s focus on cybersecurity, it’s time for a reality check.

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Curated Articles for June, 2019 (Your Summer Reading)

Jun 6, 2019 9:10:00 AM / by Bo J. Howell posted in SEC, SEC Updates, ETFs

Ah, welcome to the hot days of summer, which technically doesn’t start until June 20. But that didn’t stop temperatures around the U.S. from topping 95 degrees last week. Whew! And with that warm, beach weather comes the start of vacation season. So in case you forgot to pack that massive stack of reading material that you’ve been collecting since January, below are some articles for your reading pleasure.  (Please note that subscriptions may be required for certain articles, sorry.)

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An Analysis of the SEC's Proposed Fund of Funds Rule

Apr 19, 2019 11:00:00 AM / by John Yoder posted in SEC Rule, ETFs, Guest Author

SEC’s Proposed Fund of Funds Rule Simplifies Fund of Funds Compliance, But Creates Liquidity Concerns

By John Yoder and Bo Howell

For over a decade now exchange-traded Funds (“ETFs”) have become a primary investment for asset managers to gain low-cost access to broad segments of the markets. More recently, ETFs have grown to focus on more niche parts of the investment universe (e.g., sector ETFs, thematic ETFs, etc.). The growth in the number and size of these products reflects an asset management trend away from concentrated portfolios to asset allocation strategies. Often, these strategies are packaged in mutual funds or other investment companies that simply acquire shares of ETFs and other funds, as opposed to individual securities like stocks or bonds.

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Liquidity is Out, ETFs are In

Apr 7, 2018 4:43:26 PM / by Bo J. Howell posted in Investment Advisers, Liquidity, SEC, SEC Updates, Directors/Trustees, ETFs

The SEC’s stance on its not-yet-effective liquidity rule appears fluid, as commissioners push to abandon part of the rule and certain division heads move on to other topics. At the 2018 ICI Mutual Funds and Investment Management conference, Commissioner Hester Peirce and division director Dalia Blass signaled the possible end of the liquidity rule as an emphasis of the SEC.

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