SEC Chair White Describes the SEC’s Game Plan with Respect to the Asset Management Industry

In a speech at a December 11, 2014 event sponsored by The New York Times DealBook, SEC Chair Mary Jo White laid out her agency’s agenda concerning the asset management industry.  First, White summarized the recent growth of the asset management industry and the SEC’s current tools to address conflicts of interest, registration, reporting and disclosure.  Second, White focused on the SEC’s plan to improve its grasp of portfolio composition risks and operational risks by: requiring better data reporting and risk controls, particularly with respect to derivatives; mandating that investment advisers create transition plans to prepare for major business disruptions; and requiring large investment advisers and funds to submit to annual stress testing.  For additional recent insight on SEC regulatory and enforcement priorities, see “SEC Investment Management Division Director Norm Champ Details Disclosure Challenges Facing Hedge and Alternative Mutual Fund Managers,” Hedge Fund Law Report, Vol. 7, No. 46 (Dec. 11, 2014).

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