Division of Investment Management: Frequently Asked Questions
Nov. 8, 2024
This is a non-exhaustive listing of responses to frequently asked questions on various topics that have been prepared by staff in the Division of Investment Management. Staff may update this information from time to time to include responses to additional questions. These responses represent the views of the staff and are not rules, regulations, or statements of the Commission. The Commission has neither approved nor disapproved the answers to these FAQs, which like all staff statements have no legal force or effect, do not alter or amend applicable law, and create no new or additional obligations.
| Title | Date (Last Updated) | Topic |
|---|---|---|
| Auditor Independence | June 27, 2019 | Accounting and Auditing |
| Business Development Companies and Section 61(a) of the Investment Company Act of 1940 | Oct. 18, 2019 | |
| Coronavirus (COVID-19) Response | July 21, 2022 | Emergencies |
| Custody Rule | Oct. 10, 2017 | Accounting and Auditing |
| Family Office Rule | March 23, 2018 | Accounting and Auditing |
| Financial Conflicts Related to Investment Adviser Compensation (Disclosure) | Oct. 18, 2019 | Registration and Disclosure |
| Form 13F | May 25, 2023 | Investment Advisers |
| Form ADV and IARD | Oct. 26, 2023 | Investment Advisers |
| Form CRS | Dec. 8, 2023 | Registration and Disclosure |
| Form N-MFP | Jan. 25, 2011 | Money Market Funds |
| Form N-MFP and Rule 30b1-7 | July 29, 2011 | Money Market Funds |
| Form PF | Apr. 4, 2025 | Accounting and Auditing |
| Fund of Funds Arrangements | April 14, 2021 | Filing Fees |
| Fund of Funds Expenses (Disclosure) | May 23, 2007 | Accounting and Auditing |
| Investment Company Liquidity Risk Management Programs | April 10, 2019 | Portfolio Management |
| Investment Company Names (Rule 35d-1) | Dec. 4, 2001 | Portfolio Management |
| Investment Company Reporting Modernization | April 21, 2021 | Accounting and Auditing |
| Marketing Compliance | March 19, 2025 | Advertising/Performance/Social Media |
| Mid-Sized Advisers | June 30, 2017 | Investment Advisers |
| Money Market Fund Reforms (2014 rulemaking) | Feb. 17, 2021 | Money Market Funds |
| Money Market Fund Reforms (2010 - Rule 2a-7) | Aug. 7, 2012 | Money Market Funds |
| Mutual Fund After-Tax Return Requirements | Jan. 14, 2002 | Accounting and Auditing |
| Mutual Fund Customer Identification Program Rule | Aug. 11, 2003 | Anti-Money Laundering |
| Mutual Fund Fee Structures (IM Guidance Update 2016-06) | Feb. 15, 2017 | Distribution Arrangements |
| Names Rule (2025 FAQs) | Jan. 8, 2025 | Investment Companies |
| Names Rule (Withdrawn 2001 FAQs) | Jan. 8, 2025 | Investment Companies |
| Pay-to-Play Rule | Aug. 18, 2017 | Investment Advisers |
| Proxy Disclosure Enhancements Transition for Registered Investment Companies | Jan. 19, 2010 | Compliance - Investment Companies |
| Proxy Voting Responsibilities of Investment Advisers | June 30, 2014 | Investment Advisers |
| Regulation S-P | Jan. 23, 2003 | Privacy/Identity Theft |
| Reserve Fund | Oct. 1, 2008 | Money Market Funds |
| Rule 35d-1 (Investment Company Names) | Sept. 29, 2011 | Transaction Fees |
| Standards of Conduct for Broker-Dealers and Investment Advisers (Account Recommendations for Retail Investors) | March 30, 2022 | Regulation Best Interest |
| Standards of Conduct for Broker-Dealers and Investment Advisers (Care Obligations) | April 30. 2023 | Regulation Best Interest |
| Standards of Conduct for Broker-Dealers and Investment Advisers (Conflicts of Interest) | Aug. 3, 2022 | Regulation Best Interest |
| Tailored Shareholder Reports | Jan. 26, 2024 | |
| Valuation | March 18, 2021 | Accounting and Auditing |
| Valuation Guidance | Oct. 5, 2022 | Accounting and Auditing |
| Volcker Rule | March 4, 2016 |
Last Reviewed or Updated: April 21, 2025