On August 31, the SEC issued an advance notice of proposed rulemaking on possible amendments to Rule 3a-7 of the Investment Company Act of 1940. Click here to read more.
advance notice of proposed rulemaking
SEC ANPR on Rule 3a-7 and Concept Release on 3(c)(5)(C)
On August 31, the SEC issued an advance notice of proposed rulemaking on possible amendments to Rule 3a-7 of the Investment Company Act relating to the treatment of ABS issuers. The SEC also issued a concept release seeking comment on interpretations of Section 3(c)(5)(C) of the Investment Company Act that is used by some companies (such as REITs) in connection with the acquisition of mortgages and mortgage-related instruments. Comments on both the ANPR and the concept release must be submitted within 60 days after publication in the Federal Register. SEC Release. 3a-7 ANPR. 3(c)(5)(C) Concept Release.
FHFA Rules and ANPR for GSEs
On December 22, the FHFA issued three final rules and one Advance Notice of Proposed Rulemaking for Fannie Mae, Freddie Mac and the Federal Home Loan Banks. The final rules pertain to Fannie Mae and Freddie Mac portfolio holdings, minority and women inclusion, and Federal Home Loan Bank housing goals. The ANPR pertains to membership in Federal Home Loan Banks. FHFA Release.
CFTC ANPR on Agricultural Swaps
On September 28, the CFTC issued an advance notice of proposed rulemaking and request for comment on the conditions, restrictions, or protections to be included in a regulation governing the trading of agricultural swaps. Under the Dodd-Frank Act, swaps in an “agricultural commodity” are prohibited unless they are entered into pursuant to a regulation to be adopted by the CFTC. Comments must be received on or before October 28. CFTC ANPR.