The US Securities and Exchange Commission (SEC) has withdrawn 14 pending rulemakings, including ones focused on predictive data analytics, safeguarding of client assets (i.e., custody), cyber security for advisers and funds, outsourcing by investment advisers and security-based swaps position reporting.
Jack Inglis, CEO of the Alternative Investment Management Association (AIMA), said in a statement: “The removal of these 14 pending rules will create greater certainty for our members that their market ecosystem isn’t about to be radically disrupted by proposals written by the previous administration on unstable legal foundations.”