Industry Pushes Back on SEC Swing Pricing Proposal In November, the Securities and Exchange Commission (SEC) proposed significant revisions that would require, among other reforms, the adoption of swing pricing and a “hard close” for transacting in fund shares. The proposals apply to all open-end funds, excluding money market funds and exchange-traded funds (ETFs). According...
New Proposed SEC Rule to Impact Third-Party Providers Engaging service providers and outsourcing various functions is a routine part of running an effective business. Fund companies regularly rely on service provider relationships to fulfill various functions, including valuation, investor reporting, regulatory compliance, and trade implementation. No firm can do it all in-house, nor would it...
Open Letter to the SEC: Please Stop the Swing Pricing Proposal By Burton Keller, Advisor Emeritus, Delta Data Oh, how we “strain after gnats, and swallow the camel.” Swing pricing…again. Let us just take a moment and go back in time. Remember in 2016, when the SEC amended Rule 22c-1 (effective November 2018) to allow...
Delta Data BlogCongressional Proposal to Tax “In-Kind” Exchanges Inside ETFs – A Bad Idea
September 28, 20210
If the word out of Washington is any indication of the weather, we’re in for a stormy time, with a one-eyed skipper looking for the horizon. Recently Congress proposed taxing of in-kind exchanges inside of ETFs to help fund their 3.5T budget package. Online publication Ignites recently ran an article on the proposal and cited...
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