On September 20, 2023, the SEC voted four to one to issue a final rule updating the 20-year-old “Names Rule” to ensure that a fund’s name accurately reflects the fund’s investments and risks. Highlights of the rule include broadening the scope of the 80% investment policy requirement to cover an additional 2,200 funds, as well as new quarterly reviews of investments for consistency with the 80% requirement. This article provides more details on the final rule.
If you have questions or need assistance, please reach out to a professional at FORVIS.