The Securities and Exchange Commission (SEC) has proposed amendments to the Investment Company Act's cross-trading rule, which allows transactions in securities between registered funds and their affiliates. The changes aim to modernize the rule and enable cross trades that could reduce trading costs for funds and benefit shareholders, while also implementing enhanced investor protection measures. SEC Chairman Paul S. Atkins stated, "When executed appropriately, cross trades allow registered funds to avoid costs associated with open market trades and to then pass those savings on to investors."
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SEC Proposes Changes to Cross-Trading Rules for Registered Funds
This is the reported brief. The desk does not add a separate analysis that was not in the source check.
Original sourceU.S. Securities and Exchange Commissionsec.gov
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