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Rating:Alt Fundsters, the SEC Frowns on Laundry Lists Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, October 31, 2014

Alt Fundsters, the SEC Frowns on Laundry Lists

News summary by MFWire's editors

Fundsters with alternative products, beware. Norm Champ doesn't like your laundry lists... of investment strategies, that is.

Champ, director of the SEC's division of investment management, spoke Wednesday in New York at the SIFMA Complex Products Forum [see the text of the speech]. He urged fundsters to take a closer look at how they disclose their investment strategies. Mark Schoeff Jr. of InvestmentNews reported on Champ's speech.

Champ, the trade publication says, worries about funds "providing a laundry list of strategies in their disclosure forms," despite perhaps using actually using a handful of those strategies.

"If we find gaps between what you told us you're going to do and what you're doing, that could become an issue," Champ reportedly said. "You've got to make sure you match your disclosure to what you're actually doing."

INews notes that Champ's SIFMA speech follows two speeches he gave earlier this year, when he talked about "value, liquidity and leverage risks" around alts (in June) and "potential compliance problems" (in September). 

Edited by: Neil Anderson, Managing Editor

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