TREE NEWS update: The U.S. Securities and Exchange Commission proposed amendments to the Investment Company Act’s cross-trading rule, which allows transactions in securities between a registered fund and its affiliates under certain conditions. The proposal would expand the categories of securities eligible for such cross trades. The SEC announced the amendments on its website.
SEC Proposes Expanding Cross-Trading Securities for Registered Funds
AI take
The significance lies less in cross-trading mechanics than in the direction of travel: an SEC under current leadership revisiting a long-standing affiliate-transaction rule to widen eligible securities. Registered funds and their advisers gain more flexibility in internal trades, but the same conditions that guard against self-dealing remain the battleground. Whether the expanded categories survive public comment, and how tightly the conditions are drawn, is the open question.
Generated by AI for reference only.
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