IRS Priority Guidance Plan Includes Retirement Items
The IRS has issued its 2022-2023 Priority Guidance Plan, in which it describes guidance projects in the current fiscal year.
PBGC Proposes Modifications to Form 5500 Schedule R and SB Reporting
The PBGC has submitted to the Office of Management and Budget an information collection request and extension related to Form 5500 series annual reporting requirements.
SEC Re-Proposes Mutual Fund “Hard Close”
The SEC has released a proposed rule titled “Open-End Fund Liquidity Risk Management Programs and Swing Pricing; Form N-PORT Reporting.”
SEC Adopts Rules to Enhance Proxy Voting Disclosures
The SEC has finalized rules to amend Form N-PX, Annual Report Of Proxy Voting Record of Registered Management Investment Company.
Federal Prime Interest Rate Increased to 7 Percent
Effective November 2, 2022, the federal prime interest rate increased from 6.25 percent to 7 percent.
SEC Final Rule on Broker-Dealer Electronic Recordkeeping Requirements Set for Publication in Federal Register
The Securities and Exchange Commission (SEC) is adopting amendments to the recordkeeping rules applicable to broker-dealers, security-based swap dealers (SBSDs), and major security-based swap participants (MSBSPs).
Proposed Restated Voluntary Fiduciary Correction Program Has Left OMB
A Department of Labor proposed rule restating the Voluntary Fiduciary Correction Program (VFCP) has left the Federal Office of Management and Budget.
SEC Finalizes Rule to Modernize Shareholder Reports and Disclosures
The SEC has released a final rule to amend requirements for shareholder reports for mutual funds and exchange-traded funds (ETFs) and rules for investment company advertisements.
SEC Proposes Requirements for Investment Advisor Outsourcing
The SEC has released a proposed rule to prohibit investment advisers from outsourcing certain services or functions without first meeting due diligence and ongoing monitoring requirements related to the “covered function”.
Hardship Distributions May Be Permitted for Illinois Severe Storms
The Federal Emergency Management Agency (FEMA) has issued a disaster declaration for severe storm and flooding in Illinois, beginning October 14, 2022.
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