Securities and Exchange Commission – Federal Register Recent Federal Regulation Documents
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Safeguarding Advisory Client Assets
The Securities and Exchange Commission (``Commission'' or ``SEC'') is proposing a new rule under the Investment Advisers Act of 1940 (``Advisers Act'' or ``Act'') to address how investment advisers safeguard client assets. To effect our redesignation of the current custody rule for the proposed new safeguarding rule, we are proposing to renumber the current rule. In addition we are proposing to amend certain provisions of the current custody rule for enhanced investor protections. We also are proposing corresponding amendments to the recordkeeping rule under the Advisers Act and to Form ADV for investment adviser registration under the Advisers Act.
Shortening the Securities Transaction Settlement Cycle
The Securities and Exchange Commission (``Commission'') is adopting rule amendments to shorten the standard settlement cycle for most broker-dealer transactions from two business days after the trade date (``T+2'') to one business day after the trade date (``T+1''). In addition, the Commission is adopting new rules related to the processing of institutional trades by broker-dealers and certain clearing agencies. The Commission is also amending certain recordkeeping requirements applicable to registered investment advisers.
Applications for Deregistration Under Section 8(f) of the Investment Company Act of 1940
Applicant, a closed-end investment company, seeks an order declaring that it has ceased to be an investment company. On September 25, 2018, applicant made liquidating distributions to its shareholders based on net asset value. Expenses of $8,362 incurred in connection with the liquidation were paid by the applicant. Filing Date: The application was filed on February 2, 2023. Applicant's Address: Brookfield Public Securities Group LLC, Brookfield Place, 250 Vesey Street, 15th Floor, New York, New York 10281-1023.
Extending Form 144 EDGAR Filing Hours
We are adopting an amendment to Regulation S-T to extend the filing deadline for Form 144 from 5:30 p.m. to 10 p.m., Eastern Standard Time or Eastern Daylight Saving Time, whichever is currently in effect, on Commission business days. We are also adopting technical amendments to enhance the consistency of recently revised provisions related to the filing format of Form 144.
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