The deadline for advisors to tell the Securities and Exchange Commission that they intend to participate in the agency’s Share Class Selection Disclosure Initiative hits on Tuesday.
The SEC explained in its early May frequently asked questions guidance that it does not plan to extend the deadline.
As of Monday afternoon, the agency had yet to issue a deadline extension.
The June 12 deadline, the SEC stated in the FAQ, “is merely the date by which a self-reporting advisor must notify the Division of its intent to participate in the SCSD Initiative,” in which the advisor must include, at a minimum, their name and contact information.
Advisors then have 10 business days from the date of notification to confirm eligibility for the SCSD Initiative by submitting a completed questionnaire.
The SEC may grant an advisor an extension of time to submit the questionnaire.