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Asset Management Counsel Nathan Somogie Discusses SEC COVID-19 Actions in ACA Insight

Practices: Asset Management, Investment Management, Investment Management Compliance

The SEC has extended its public comment deadline for a number of proposed rules to May 1, ACA Insight reported in its April 13 issue.  The extension was made in response to the changes following the advent of the coronavirus, which has led to firm disruptions. “The SEC has been really pro-active during this crisis in identifying pressure points for the industry,” said asset management counsel Nathan Somogie in a piece titled “COVID-19: SEC Further Extends Public Comment Deadline, Commissioner Calls for Still More Time.” “You see that in steps like providing exemptions for in-person board meetings and additional liquidity options for registered funds. Extending the comment period on long-term rulemaking seems like another way to help the industry focus on getting through the current crisis. It may also provide a bit more time for perspectives on this experi­ence to be reflected in the rulemaking process.”

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