Is the SEC Quietly Slipping Behind the Scenes, Delaying Compliance to Rig the Game?
Recently, the Securities and Exchange Commission delayed the compliance date for a handful of regulations. It’s happened often enough lately that it could appear to some that the agency is engaging in “deregulation by delay.”
For example, the SEC last month announced a two-year extension of the effective and compliance dates for amendments adopted in August 2024 that require certain registered funds to report portfolio-related data more frequently to the SEC on Form N-PORT. In March, the commission granted a six-month extension for companies to comply with the Investment Company Act “Names Rule,” which deals with investment funds’ names that could be considered misleading when it comes to their holdings and risks. The agency also delayed implementation of a rule related to the covered clearing of U.S. Treasury securities. In January, the SEC extended the compliance date for amendments to Form PF, which covers confidential reporting for certain SEC-registered investment advisors to private funds, including those also registered with the CFTC as commodity pool operators or commodity trading advisors.
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