SEC News: Regulator Approves In-House Enforcement Reforms, Adopts Guidance For Security-Based Swap Transaction Reporting, and Will Audit Financial Advisers Over Mutual Fund Shares

bob200体育证券交易委员会to Audit RIAs Over Mutual Fund Share Classes
The SEC has announced that it will audit registered investment advisers so that it can examine the kinds of mutual fund share classes that they sell to clients. Share class recommendations and compliance are of particular interest to the regulator.

由于RIA是受托人，因此他们有责任维护客户的最大利益。这包括根据后者的投资目标选择最低的股份股票和529个计划投资。委员会希望查看是否存在利益冲突，例如顾问也是经纪公司或与一家从​​出售某些共同基金股份类别获得费用的公司。

The SEC also wants to look at whether RIAs are disclosing if there is anyone getting paid compensation for the sale of either mutual fund share classes or other investment products. The fee might be a charge for the actual sale or a fee incurred according to the assets sold.

SEC通过法规SBSR采用修正案
The U.S. Securities and Exchange Commission has adopted guidance and amendments for Regulation SBSR, which includes rules for the public dissemination and regulatory reporting of security-based swap transactions. The rules and guidance were created to enhance transparency in the market for security-based swaps. They were mandated under the Dodd-Frank Wall Street Reform and Consumer Protection Act.

最新更改包括：

· Additional requirements for issuing information and making it available to the public.

· Requiring clearing agencies, swap-execution facilities, and exchanges to report swaps.

· Prohibiting information repositories from limiting data access or charging fees.

SEC对其内部行政程序进行修改
The U.S. Securities and Exchange Commission has approved reforms to its in-house enforcement system’s administrative proceedings. The modifications were approved by all three members of the regulatory agency. They are an effort by the Commission to address critics who contend that defendants in cases filed by the regulator are at a disadvantage because an SEC judge presides over the lawsuits.

At present, in-house hearings against a defendant have to start within four months of the service order. The changes that have been approved would let defendants depose witnesses and permit their lawyers to postpone the start of the trial if they need more time to examine the evidence.

行政程序实践规则已采用的最终修正案包括：

· Lengthening the prehearing period from four months to up to 10 months if needed.

·如果有一个受访者有一个受访者，则在有多个受访者时，如果有多个受访者授予案件，则赋予每一侧三个沉积权的权利。当事方可能可以要求另外两个职位。

·阐明在诉讼的不同阶段以及适用于动议的法律标准和程序中可以提出的两种既定动议。

不管经纪交易商，投资咨询公司，经纪人还是其他财务代表是由SEC或法院指控的，重要的是，曾经是这些当事方的投资者必须由经验丰富的一家人代表securities lawyer谁可以代表他们倡导并保护他们的康复权。

接触The SSEK Partners Group和ask for your free case consultation.

The SEC’s Final Rule on Security-Based Swaps（PDF）

The SEC’s Final Rule on Administrative Proceedings（PDF）

SEC to audit RIAs over the types of mutual fund share classes they sell to clients，InvestmentNews，2016年7月13日