SEC Staff Guidance: Can State-Chartered Trust Companies Custody Digital Assets?

SEC Staff Guidance: Can State-Chartered Trust Companies Custody Digital Assets?

Are state-chartered trust companies "banks" that can custody digital assets for investment advisers and funds? In this episode of Mutual Fund Minute, Sidley Investment Funds partner Chuck Daly and host Jay Baris examine SEC staff guidance interpreting the definition of a "bank" in the Investment Advisers Act and the Investment Company Act. Tune in to find out what the guidance means for registered advisers and investment companies that hold digital assets, and why it matters.

What You Need to Know About ETF Share Classes

In this episode of Mutual Fund Minute, Sidley Investment Funds partner Matthew Kutner joins host Jay Baris to tell you what you need to know about regulatory developments that will allow mutual funds to issue ETF share classes. Matt and Jay explore what ETF share classes are, how they work, potential risks for investment advisers and fund directors, how ETF share classes could transform fund investing, and more.

Discussing Developments in the UK and EU’s Asset Management With Sidley’s Leonard Ng

In this episode of Mutual Fund Minute, Leonard Ng, head of the firm’s UK/EU Financial Services Regulatory group, joins host Jay Baris to discuss developments in asset management in the UK and EU. Jay and Leonard discuss how the UK’s Financial Conduct Authority hopes to make the UK more competitive with the EU in the post-Brexit environment.

BDC and Interval Fund Co-Investment Relief: A Conversation With Sidley’s Nathan Greene

In this episode of Mutual Fund Minute, Nathan Greene, Sidley partner and leading regulatory lawyer , joins host Jay Baris to discuss how the Securities and Exchange Commission eased restrictions on co-investments involving closed-end funds and business development companies (BDCs). Jay and Nathan discuss how the SEC’s action changes the regulatory landscape for these funds by providing more flexibility and less burdensome oversight by fund directors.

Reimagining the Investment Company Act of 1940, Part II

In this episode of Mutual Fund Minute, Paul Cellupica, the General Counsel of the Investment Company Institute, and host Jay Baris continue to analyze the ICI’s proposals to revisit the Investment Company Act of 1940.  They discuss the “retailization” phenomenon, revising the annual shareholder meeting requirement for closed-end funds, easing restrictions on co-investments among affiliated funds, and ways to address the growing popularity of interval funds.