In remarks delivered on March 8th, Norm Champ, Director, Division of Investment Management highlighted three regulatory initiatives that are short-term priorities of the Division: potential money market mutual fund reform, identity theft red flag rules and valuation guidance. He also mentioned five longer term regulatory initiatives, that the Division is “scoping” and seeking to develop: the review of rules that apply to private fund advisers, a derivatives concept release, an ETF rule, a variable annuity summary prospectus and enhancements to fund disclosures about operations and portfolio holdings. Mr. Champ’s remarks are available here.