Publications

This edition of the Simpson Thacher Registered Funds Alert discusses recent developments in the registered funds industry, including recent academic speculation regarding potential antitrust implications of horizontal shareholdings by mutual funds, the SEC’s liquidity management proposals for open-end funds and ETFs, and the possibility of the SEC utilizing a third-party inspection program to examine the growing number of registered investment advisers. In addition, this Alert discusses the continued focus by the SEC on cybersecurity, including additional examinations and a recent enforcement action, as well as the publication by the NYSE of a cybersecurity guide aimed at directors and officers of listed companies. Finally, we report on notable transactions that occurred in the third quarter of 2015, including M&A transactions and closed-end fund initial public offerings.