On September 30, 2026, the Securities and Exchange Commission (the “SEC”) proposed amendments intended to provide additional flexibility for regulated funds and their investment advisers. The proposals address performance-based compensation, interval fund repurchase requirements and multiple share classes for registered
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SEC Staff Highlights Fair Value and Disclosure Considerations for Private Assets
The staff of the Securities and Exchange Commission, including the Office of the Chief Accountant and the Division of Investment Management (the “Staff”), recently issued a Statement on Fair Value Measurement and Disclosure Considerations for Private Assets (the “Statement”). The
SEC Division of Corporation Finance Issues FAQs on the Application of Federal Securities Laws to Crypto Assets
On September 25, 2026, the Staff of the Division of Corporation Finance (the “Division”) of the Securities and Exchange Commission (the “SEC”) published a set of responses to frequently asked questions (the “FAQs”) regarding the application of the federal securities
BDC Facts & Stats 2026
Revamping Abbreviated Disclosure Requirements for Equity-Linked Securities 30 Years Following Issuance of the Morgan Stanley No-Action Letter
This week, the Staff of the Division of Corporation Finance of the Securities and Exchange Commission granted our no-action letter modernizing and expanding the framework established with the issuance of the 1996 Morgan Stanley no-action letter (“MS Letter”). This no-action
Division of Corporation Finance Updates and Withdraws Dated CFIs
On September 26, the Securities and Exchange Commission’s Division of Corporation Finance continued its ongoing efforts to update and revise the Staff guidance in the form of Corporation Finance Interpretations, or CFIs. The updates address various topics, ranging from Securities
SEC Exam Staff Issues Risk Alert on Investment Adviser Annual Compliance Reviews
On September 14, 2026, the staff of the US Securities and Exchange Commission’s (“SEC” or “Commission”) Division of Examinations (the “Division”) issued a Risk Alert (the “Risk Alert”) setting out their examination observations of SEC-registered investment advisers’ (“RIAs”) annual compliance
CFTC Issues Staff Advisory Flagging Manipulation Concerns in “Mention Markets”
On September 22, 2026, the Commodity Futures Trading Commission (“CFTC”), through its Division of Market Oversight (“DMO”), issued a staff advisory (the “Staff Advisory”) addressing the listing and trading of event contracts that settle based on whether an individual will
SEC to Hold Open Meeting on September 30 Addressing Retailization Issues
The Securities and Exchange Commission (“SEC”) announced an open meeting to be held on September 30, 2026. The SEC will consider several matters relating to investment advisers, closed-end funds and business development companies and accredited investors.
The SEC will first
Section 871(m) Phase-In Extended Two More Years
On September 21, the Treasury Department and the IRS issued Notice 2026-61, further delaying the full implementation of the withholding rules on dividend equivalent payments. The Notice extends the phase-in of regulations under Section 871(m) of the Code and related