Signage is seen at the headquarters of the U.S. Securities and Exchange Commission (SEC) in Washington, D.C., U.S., May 12, 2021.
REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsAug 17 (Reuters) - Wall Street's top regulator is set next week to adopt new transparency rules for the $20-trillion private investment fund industry, according to an official notice, acting on a proposal that has drawn sharp industry objections.
In early 2022, the SEC proposed a set of changes for private fund advisers that would, among other things, require them to produce quarterly statements on performance and fees and submit to annual audits.
Under current rules, some broker-dealers who perform proprietary trades on exchanges of which they aren't members need not join FINRA.
The proposal would now require FINRA membership for such broker-dealers unless they are members of national securities exchanges and carry no customer accounts.
Persons:
Andrew Kelly, Mary Jo White, Douglas Gillison, Andy Sullivan, Alistair Bell
Organizations:
U.S . Securities, Exchange Commission, SEC, Washington , D.C, REUTERS, Financial Industry Regulatory Authority, Democratic, Industry, Securities Industry, Financial Markets Association, Thomson
Locations:
Washington ,