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2018-06-08
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Covered Investment Fund Research Reports
Part III
Proposed Rules
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United States
Securities and Exchange Commission
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United States Government Agency or Subagency
As directed by Congress pursuant to the Fair Access to Investment Research Act of 2017, the Commission is proposing a new rule under the Securities Act of 1933. If adopted, the proposal would establish a safe harbor for an unaffiliated broker or dealer participating in a securities offering of a ``covered investment fund'' to publish or distribute a ``covered investment fund research report.'' If the conditions for the safe harbor are satisfied, this publication or distribution would be deemed not to be an offer for sale or offer to sell the covered investment fund's securities for purposes of sections 2(a)(10) and 5(c) of the Securities Act of 1933. The Commission is also proposing a new rule under the Investment Company Act of 1940. This proposal would exclude a covered investment fund research report from the coverage of section 24(b) of the Investment Company Act (or the rules and regulations thereunder), except to the extent the research report is otherwise not subject to the content standards in self- regulatory organization rules related to research reports, including those contained in the rules governing communications with the public regarding investment companies or substantially similar standards. We are also proposing a conforming amendment.
83 FR 26788
https://www.govinfo.gov/app/details/FR-2018-06-08/2018-11497
2018-11497
fr08jn18-26
RIN 3235-AM24
8011-01-P
Release Nos. 33-10498
34-83307
IC-33106
File No. S7-11-18
https://www.govinfo.gov/app/details/FR-2018-06-08/2018-11497
https://www.govinfo.gov/content/pkg/FR-2018-06-08/html/2018-11497.htm
https://www.govinfo.gov/content/pkg/FR-2018-06-08/pdf/2018-11497.pdf
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44 p.
26788
26831
83 FR 26788
Code of Federal Regulations
Title 17 Part 230
17 CFR Part 230
Code of Federal Regulations
Title 17 Part 242
17 CFR Part 242
Code of Federal Regulations
Title 17 Part 270
17 CFR Part 270
Regulation Identification Number 3235-AM24
RIN 3235-AM24
Covered Investment Fund Research Reports; Federal Register Vol. 83, Issue
PRORULE
2018-11497
III
SECURITIES AND EXCHANGE COMMISSION
2018-07-09
Release Nos. 33-10498
34-83307
IC-33106
File No. S7-11-18
8011-01-P
2018-11497
Proposed rules.
As directed by Congress pursuant to the Fair Access to Investment Research Act of 2017, the Commission is proposing a new rule under the Securities Act of 1933. If adopted, the proposal would establish a safe harbor for an unaffiliated broker or dealer participating in a securities offering of a ``covered investment fund'' to publish or distribute a ``covered investment fund research report.'' If the conditions for the safe harbor are satisfied, this publication or distribution would be deemed not to be an offer for sale or offer to sell the covered investment fund's securities for purposes of sections 2(a)(10) and 5(c) of the Securities Act of 1933. The Commission is also proposing a new rule under the Investment Company Act of 1940. This proposal would exclude a covered investment fund research report from the coverage of section 24(b) of the Investment Company Act (or the rules and regulations thereunder), except to the extent the research report is otherwise not subject to the content standards in self- regulatory organization rules related to research reports, including those contained in the rules governing communications with the public regarding investment companies or substantially similar standards. We are also proposing a conforming amendment.
Comments should be received by July 9, 2018.
Asaf Barouk, Attorney-Adviser, John Lee, Senior Counsel; Amanda Hollander Wagner, Branch Chief; or Brian McLaughlin Johnson, Assistant Director, at (202) 551-6792, Investment Company Regulation Office, Division of Investment Management; Steven G. Hearne, Senior Special Counsel, at (202) 551-3430, Division of Corporation Finance; Laura Gold or Samuel Litz, Attorney-Advisers; or John Guidroz, Branch Chief, at (202) 551-5777, Office of Trading Practices, Division of Trading and Markets, Securities and Exchange Commission, 100 F Street NE, Washington, DC 20549-8549.
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http://corporate1.morningstar.com/Documents/UK/Landing/Morningstars-Two-Ratings-For-Assessing-A-Fund/
http://www.finra.org/newsroom/2002/nasd-fines-us-bancorp-piper-jaffray-and-managing-director-300000
http://www.icifactbook.org/
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https://marketintelligence.spglobal.com/documents/products/Mutual_Fund_Methodology_v2.pdf
https://papers.ssrn.com/abstract=2809128
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https://www.ici.org/pdf/per23-07.pdf
https://www.sec.gov/open/datasets-bdc.html
https://www.zacks.com/stock/news/94561/zacks-etf-rank-guide
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Table of Contents:
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https://www.govinfo.gov/app/details/FR-2018-06-08
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https://www.govinfo.gov/content/pkg/FR-2018-06-08/pdf/FR-2018-06-08.pdf
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