SEC proposes expanding the range of securities eligible for cross trading by registered funds
SEC Proposes Expanding Securities Eligible for Cross Trading by Registered Funds
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SEC has proposed amendments to Rule 17a-7 under the Investment Company Act to expand the range of securities that registered funds may cross trade with affiliated persons. The proposal would restore cross trading for most fixed-income securities and update pricing, oversight, and summary reporting requirements to reduce the costs of transactions in public markets and increase transparency. The proposal will be published in the Federal Register, with a 60-day comment period following publication.
The proposal adjusts requirements for cross trading in fixed-income securities, pricing oversight, and summary disclosures at the same time, illustrating how rules governing affiliated transactions by funds balance costs and investor protection.
Source:SEC — Press releases · sec.gov