securities and exchange commission
SEC ups qualified investor thresholdPosted by RJ and Makay on Feb 16, 2012 |
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The Securities and Exchange Commission (SEC) announced yesterday that it is tightening its rule governing investment advisory performance fees by raising the net worth requirements for qualified investors by excluding the value of the investor’s home from the net worth calculation. Under the current rule, registered investment advisors may charge clients performance fees if the client’s assets under management or net worth meet certain dollar thresholds.
The Securities and Exchange Commission (SEC) announced Wednesday that it had filed 146 enforcement actions against investment advisors and investment companies during the 2011 fiscal year, which ended September 30. The record number of actions represents a 30% increase from the previous fiscal year, and a jump of nearly 200% since 2002.
Standard & Poor’s announced Monday that its president, Deven Sharma, will be leaving the credit rating agency at the end of the year. He will step down on September 12 but remain with parent company McGraw-Hill in an advisory capacity through the end of the year as the company explores a separation of its education publishing business. Douglas Peterson, chief operating officer of Citigroup Inc.’s Citibank unit, will succeed Mr. Sharma, S&P announced.
