More On Legal & Compliancefrom The Advisor's Professional Library
- Recent Changes in the Regulatory Landscape 2011 marked a major shift in the regulatory environment, as the SEC adopted rules for implementing the Dodd-Frank Act. Many changes to Investment Advisers Act were authorized by Title IV of the Dodd-Frank Act.
- Dealings With Qualified Clients and Accredited Investors Depending upon an RIAs business model and investment strategies, it may be important to identify “qualified clients” and “accredited investors.” The Dodd-Frank Act authorized the SEC to change which clients are defined by those terms.
Title VII, the two agencies say, provides for the comprehensive regulation of swaps and security-based swaps and includes definitions of key terms relating to such regulation. The title of the Dodd-Frank Act "requires the CFTC and the SEC, in consultation with the Board of Governors of the Federal Reserve System, to jointly further define the terms 'swap,' 'security-based swap,' 'swap dealer,' 'security-based swap dealer,' 'major swap participant,' 'major security-based swap participant,' 'eligible contract participant' and 'security-based swap agreement,' " the two agencies say in their release requesting public comments.
Title VII also requires the CFTC and SEC to jointly prescribe regulations regarding "mixed swaps" as necessary to carry out the purposes of Title VII.
The SEC and CFTC also have a series of email links on the two agencies' Web sites to facilitate public comment regarding regulatory reform rulemaking under the Dodd-Frank Act.
Read a story about the SEC and CFTC's meeting on May 6 "Flash Crash" from the archives of InvestmentAdvisor.com.