September 14, 2017 | Permalink
Fund Name: IBAA Fund
Adviser: IBAA
Sub-Adviser(s): None
Fees: 1.5% Management Fee
Open- or Closed-End: Closed-End (Exchange traded)
Investor Restrictions: Qualified clients; $50,000 minimum initial investment, $10,000 minimum subsequent investment
Filing Date: Sept. 5, 2017
Effective Date: Pending
   
Fund Name: Harvest Volatility Absolute Fund
Adviser: Harvest Volatility Management LLC
Sub-Adviser(s): None
Fees: Not specified
Open- or Closed-End: Open-End (Exchange traded)
Investor Restrictions: $2,500 minimum initial investment for investor class shares, $1,000 for retirement and education savings accounts and $1,500 for automatic investment plan accounts; $25,000 minimum initial investment for institutional class shares; $100 minimum subsequent investment (all accounts).
Filing Date: Sept. 1, 2017
Effective Date: Pending
   
Fund Name: Harvest Edge Equity Fund
Adviser: Harvest Volatility Management LLC
Sub-Adviser(s): None
Fees: Not specified
Open- or Closed-End: Open-End (Exchange traded)
Investor Restrictions: $2,500 minimum initial investment for investor class shares, $1,000 for retirement and education savings accounts and $1,500 for automatic investment plan accounts; $25,000 minimum initial investment for institutional class shares; $100 minimum subsequent investment (all accounts).
Filing Date: Sept. 1, 2017
Effective Date: Pending
   
Fund Name: Harvest Edge Bond Fund
Adviser: Harvest Volatility Management LLC
Sub-Adviser(s): None
Fees: Not specified
Open- or Closed-End: Open-End (Exchange traded)
Investor Restrictions: $2,500 minimum initial investment for investor class shares, $1,000 for retirement and education savings accounts and $1,500 for automatic investment plan accounts; $25,000 minimum initial investment for institutional class shares; $100 minimum subsequent investment (all accounts).
Filing Date: Sept.1, 2017
Effective Date: Pending
   
Fund Name: BlackRock Multi-Sector Opportunities Trust Series I
Adviser: BlackRock Advisors LLC
Sub-Adviser(s): BlackRock International Limited and BlackRock (Singapore) Limited
Fees: Not specified
Open- or Closed-End: Closed-End (Quarterly repurchase; Feeder fund)
Investor Restrictions: Minimum investment levels not specified
Filing Date: Aug. 31, 2017
Effective Date: Pending
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September 7, 2017 | Permalink
Catalyst Funds completed its acquisition of the Exceed Defined Shield Fund, which it will rebrand as the Catalyst/Exceed Defined Shield Fund. Liquid alternative mutual fund specialist Catalyst will preserve the fund's same investment strategy of tracking the performance of the NASDAQ Exceed Defined Protection Index, before fees and expenses, through long and short option positions with exposure to the S&P 500 Index. The fund's strategy tracks a basket of four rolling "defined outcome" investments, which seeks to both limit losses to approximately the first 12.5% of S&P 500 Index losses on an annualized basis while also finding annual upside participation in the index to a maximum gain of 15%, even if the index's annual performance exceeds that amount.
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September 5, 2017 | Permalink
Kevin Webb, who most recently served as special counsel to CFTC chairman J. Christopher Giancarlo, was selected by CFTC commissioner Brian Quintenz to serve as his chief of staff. Previously, Webb was a senior trial attorney in the CFTC's Division of Enforcement, where he served as lead counsel responsible for the investigation and prosecution of individuals alleged to have violated the Commodity Exchange Act and CFTC regulations.
Related News:
Rostin Behnam sworn in as a Commissioner of the CFTC - CFTC
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September 1, 2017 | Permalink
Dalia Blass, who previously served as assistant chief counsel for the division, is rejoining the SEC as director of the investment management division, replacing David Grim. The SEC also named former CFTC chief economist Jeffrey Harris as director of the division of economic and risk analysis. Harris, a professor and the Gary D. Cohn Goldman Sachs chair in finance at Kogod School of Business at American University, replaces Mark Flannery, who left the agency to return to teaching.
Related News:
Bridget Fitzpatrick named chief litigation counsel - SEC
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August 31, 2017 | Permalink
Fund Name: Orinda Preferred Yield Plus Fund
Adviser: Orinda Asset Management LLC
Sub-Adviser(s): Not specified
Fees: 1.25% Management Fee
Open- or Closed-End: Closed-End (Quarterly repurchase)
Investor Restrictions: $10,000 minimum initial investment (Class A); $50,000 minimum initial investment (Class I); No minimum subsequent investment (Class A or I)
Filing Date: Aug. 18, 2017
Effective Date: Pending
   
Fund Name: WCM Alternatives: Credit Event Fund
Adviser: Westchester Capital Management LLC
Sub-Adviser(s): None
Fees: 1.25% Management Fee
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: $2,000 minimum initial investment, no minimum subsequent investment (Investor Class Shares); $1 million minimum initial investment, $500 minimum subsequent investment (Institutional Class Shares)
Filing Date: Aug. 8, 2017
Effective Date: Pending
   
Fund Name: Oppenheimer SteelPath MLP & Energy Infrastructure Fund
Adviser: OFI SteelPath Inc.
Sub-Adviser(s): Not specified
Fees: Not specified
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: $1,000 minimum initial investment; $500 minimum initial investment for Traditional and Roth IRA, Asset Builder Plan, Automatic Exchange Plan and government allotment plan accounts; $1 million minimum initial investment for Class I shares; No minimum subsequent investment
Filing Date: Aug. 1, 2017
Effective Date: Pending
   
Fund Name: T. Rowe Price Capital Appreciation & Income Fund, Inc.
Adviser: T. Rowe Price Associates, Inc.
Sub-Adviser(s): None
Fees: Not specified
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: $2,500 minimum initial investment ($1,000 for retirement accounts), $100 minimum subsequent investment (Investor Class); $1 million minimum initial investment, no minimum subsequent investment (I Class); Advisor Class shares may generally only be purchased through a financial intermediary or retirement plan.
Filing Date: July 6, 2017
Effective Date: Pending
   
Fund Name: Highland Global Allocation Fund II
Adviser: Highland Capital Management Fund Advisors, L.P.
Sub-Adviser(s): Not specified
Fees: 0.4% Management Fee
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: $500 minimum initial investment by mail ($1,000 by wire), $100 minimum subsequent investment by mail ($1,000 by wire) for Class A and C Shares; No minimum initial or subsequent investment amounts for Class Y Shares.
Filing Date: June 30, 2017
Effective Date: Pending
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August 29, 2017 | Permalink
The Office of Management and Budget approved a proposal to delay implementation of the remaining provisions in the Labor Department's fiduciary rule for 18 months. The proposal will now return to the DOL, which will likely seek public comment before issuing a final rule for approval. Although OMB had 90 days to review the proposal, its approval of the delay took less than three weeks. Originally scheduled to take effect on Jan. 1, 2018, the proposal would delay implementation of the enforcement mechanisms of the fiduciary rule until July 1, 2019, pending the ongoing review of federal regulations and possible changes that may come as a result.
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August 28, 2017 | Permalink
The New York Department of Financial Services issued a reminder to all covered entities that its cybersecurity regulation took effect on Aug. 28, 2017. Banks, insurance companies and other financial services institutions regulated by DFS are now required to have a cybersecurity program designed to protect consumers' private data; a written policy or policies that are approved by the board or a senior officer; a Chief Information Security Officer to help protect data and systems; and controls and plans in place to help ensure the safety and soundness of New York's financial services industry. Covered entities are also required to begin reporting cybersecurity events through the NYDFS online cybersecurity portal, among other requirements.
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August 28, 2017 | Permalink
The SEC issued a warning about investing in companies promising to raise capital by selling cryptocurrencies such as Bitcoin and Ethereum. The agency told investors to be wary of buying stock in companies that tout "initial coin offerings," sales of units of valuable currencies run through electronic ledger systems. The warning reflects the agency's increasing attention to cryptocurrency trading. A series of ICO scams and cybersecurity vulnerabilities prompted the SEC to take a closer look at cryptocurrency trading. In a July report, the agency told investors that ICOs could be considered securities trades under federal law, meaning companies would have to register most sales with the SEC.
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August 17, 2017 | Permalink
Fund Name: WCM Alternatives: Credit Event Fund
Adviser: Westchester Capital Management LLC
Sub-Adviser(s): None
Fees: 1.25% Management Fee
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: $2,000 minimum initial investment, no minimum subsequent investment (Investor Class Shares); $1 million minimum initial investment, $500 minimum subsequent investment (Institutional Class Shares)
Filing Date: Aug. 8, 2017
Effective Date: Pending
   
Fund Name: Oppenheimer SteelPath MLP & Energy Infrastructure Fund
Adviser: OFI SteelPath Inc.
Sub-Adviser(s): Not specified
Fees: Not specified
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: $1,000 minimum initial investment; $500 minimum initial investment for Traditional and Roth IRA, Asset Builder Plan, Automatic Exchange Plan and government allotment plan accounts; $1 million minimum initial investment for Class I shares; No minimum subsequent investment
Filing Date: Aug. 1, 2017
Effective Date: Pending
   
Fund Name: T. Rowe Price Capital Appreciation & Income Fund, Inc.
Adviser: T. Rowe Price Associates, Inc.
Sub-Adviser(s): None
Fees: Not specified
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: $2,500 minimum initial investment ($1,000 for retirement accounts), $100 minimum subsequent investment (Investor Class); $1 million minimum initial investment, no minimum subsequent investment (I Class); Advisor Class shares may generally only be purchased through a financial intermediary or retirement plan.
Filing Date: July 6, 2017
Effective Date: Pending
   
Fund Name: Highland Global Allocation Fund II
Adviser: Highland Capital Management Fund Advisors, L.P.
Sub-Adviser(s): Not specified
Fees: 0.4% Management Fee
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: $500 minimum initial investment by mail ($1,000 by wire), $100 minimum subsequent investment by mail ($1,000 by wire) for Class A and C Shares; No minimum initial or subsequent investment amounts for Class Y Shares.
Filing Date: June 30, 2017
Effective Date: Pending
   
Fund Name: Highland Floating Rate Opportunities Fund II
Adviser: Highland Capital Management Fund Advisors, L.P.
Sub-Adviser(s): Not specified
Fees: 0.65% Management Fee
Open- or Closed-End: Open-End (Mutual fund)
Investor Restrictions: $2,500 minimum initial investment; $50 minimum subsequent investment
Filing Date: June 30, 2017
Effective Date: Pending
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August 16, 2017 | Permalink
The SEC brought insider trading charges against seven individuals who allegedly created millions of dollars in profits by trading on confidential information about impending mergers and acquisitions. The SEC's enforcement staff uncovered the illicit trading using data analysis, despite the traders' alleged use of shell companies, code words and an encrypted, self-destructing messaging application to evade detection. The U.S. Attorney's Office for the Southern District of New York also unsealed criminal charges against the individuals in a parallel action.
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