Partner John McGuire spoke with Ignites about the US Securities and Exchange Commission’s final amendment to its Names Rule, noting that the approved reforms improve upon the agency’s initial proposal. Under the new requirements, if a fund does not meet a policy for 80% of the fund’s assets to align with descriptors in its investment strategies or categories in its name, that fund has 90 days to revert.
“That was a very big positive, that they got rid of some of the bad things that they had in the proposal,” John said in reference to the initial proposal’s 30-day timeframe.
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