FiSolve Weekly News Digest (May 5, 2023)

Here is what we are reading in the news this week.

The American Bankers Association ("ABA") is calling on the U.S. Securities and Exchange Commission to investigate manipulative short selling of bank stocks.?The ABA notes “short sales have followed relatively favorable earnings reports from some of the banks in question and from peer institutions.” ?While acknowledging a role for short sales in generating liquidity and price discovery, the ABA believes the harm caused by short selling runs counter to fundamentals falls on small investors.? Read more at https://bankingjournal.aba.com/2023/05/aba-calls-on-sec-to-investigate-manipulative-short-selling-of-bank-stocks/

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The?U.S. Securities and Exchange Commission?adopted amendments to Form PF, the confidential reporting form for SEC-registered investment advisers to private funds, including hedge funds and private equity funds.?Under the amendments, large hedge fund advisers and all private equity fund advisers will be required to file current reports upon the occurrence of certain reporting events the SEC believes may indicate significant stress at a fund or may indicate investor harm.?Read more at: https://www.dhirubhai.net/posts/fisolve_final-rule-amendments-to-form-pf-to-require-activity-7059621169053777921-v1f6?utm_source=share&utm_medium=member_desktop and a Fact Sheet is available at https://www.sec.gov/files/ia-6297-fact-sheet.pdf

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Reuters is reporting regulatory overreach is causing the flow of new money into European funds marketed as very sustainable to slow to a record low in the first three months of 2023.? Citing 晨星 the article states regulatory confusion is prompting asset managers to be more cautious about their claims.? Specifically, uncertainty around the Sustainable Finance Disclosure Regime (“SFDR”) is creating difficulty for investors to pick genuinely environmentally friendly funds.?Read more at https://www.reuters.com/article/europe-funds-esg/eu-rule-confusion-sends-sustainable-fund-flows-to-record-low-report-idUSL8N3713IN. ???????

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The U.S. Securities and Exchange Commission issued its largest ever whistleblower award at nearly $279 million.? The award was made to a whistleblower whose information and assistance the SEC credited with leading to the successful enforcement and related actions. This is the highest award in the SEC’s whistleblower program’s history.?Read more at https://www.sec.gov/news/press-release/2023-89.

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