Federal Register #2026-21037

SEC proposal to amend investment-company cross-trading rules and reporting

The Securities and Exchange Commission (SEC) is proposing changes to investment-company cross-trading rules and related reporting requirements. - Government agency: Securities and Exchange Commission (SEC); no sub-agency or office is specified. - Proposed changes: Amend Rule 17a-7 under the Investment Company Act of 1940 and make related changes to Forms N-PORT and N-MFP. - Key requirements: Expand the securities eligible for cross trades between registered investment companies and certain affiliates; modernize pricing and other rule conditions; strengthen investor protections and oversight; and require aggregated reporting of trading activity and cross trades. - Procurement relevance: This is a proposed regulatory rule, not a procurement opportunity. No products, services, quantities, part numbers, OEMs, or vendors are identified.

Description

The Securities and Exchange Commission proposes amendments to the Investment Company Act rule that permits securities transactions between registered investment companies and certain affiliates, known as cross trades. The amendments would expand the securities eligible for cross trading, modernize the rule’s conditions, and enhance investor protection. The proposal also would require aggregated reporting of trading activity and cross trades in Forms N-PORT and N-MFP. Comments are due December 14, 2026.

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