SEC and FINRA to Host Broker-Dealer Compliance Forums.

On March 18th, the SEC announced that along with the Financial Industry Regulatory Authority, it will host a series of regional compliance workshops for broker-dealers. The first will occur in Denver, Colorado on April 30, 2014. Other locations are Los Angeles, Chicago, Miami, Philadelphia, and New York. The programs will provide broker-dealers with the opportunity to discuss with regulators issues including risk management, regulatory matters, and compliance practices. SEC Press Release.


Division of Investment Management Director Addresses Mutual Funds and Investment Management Conference.

On March 17th, SEC Investment Management Division Director Norm Champ discussed the reorganization of his Division and its recent rulemakings. To improve its ability to identify and monitor risk, the staff is considering ways to improve the information it receives about mutual funds, closed-end funds, and exchange-traded funds. Staff is developing a recommendation that would modernize and streamline the information that funds report to the Commission to make it more timely and to provide more useful information about fund operations and portfolio holdings. As part of that process, the Division is considering amendments to Form N-SAR. Other areas of focus include variable annuity disclosure, target date funds, the migration of individual investors from brokerage accounts to advisory accounts, and cybersecurity. Champ Remarks.