SEC Proposes Expanded Fund Cross Trading Under Rule 17a-7
Monday, October 12, 2026 · first reported by Proskauer Rose LLP via JD Supra and 9 others
Cross trading under Rule 17a-7 of the Investment Company Act of 1940 would cover far more securities if changes put forward by the SEC on October 9, 2026 are adopted. Registered investment companies and business development companies could trade many fixed-income securities, including Level 2 assets, between funds.
The package also reworks pricing and transaction conditions. It adds compliance review, board reporting and recordkeeping duties, imposes new obligations on advisers, and gives chief compliance officers a larger share of oversight.
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Coverage
10 sources- Proskauer Rose LLP via JD SupraSEC Proposes Expanded Fund Cross Trading Under Rule 17a-7
- A&O Shearman via JD SupraSEC Proposes Crypto Asset Custody Framework For Investment Advisers And Regulated Funds
- Skadden, Arps, Slate, Meagher & Flom LLP via JD SupraSEC Proposes Expansion of Permitted Fund Cross Trading Under Rule 17a-7
- Ropes & Gray LLP via JD SupraSEC Proposes New Crypto Asset Custody Rules and Overhaul of Adviser, Registered Fund, and BDC Custody Rules
- Seward & Kissel LLP via JD SupraSEC Proposes Expanding Securities Eligible for Cross Trading by Registered Funds
- WilmerHale via JD SupraLong Awaited SEC Proposal Would Restore Fixed-Income Cross Trading for Registered Funds
- Alston & Bird via JD SupraSEC Proposes Overhaul of Cross-Trading Rule for Registered Funds
- Eversheds Sutherland (US) LLP via JD SupraSEC Proposes Crypto Custody Rules And A Broad Overhaul Of The Adviser And Fund Custody Framework
- Latham & Watkins LLP via JD SupraSEC Proposes Changes to Adviser Custody Rules, Including New Cryptoasset Custody Framework
- Orrick, Herrington & Sutcliffe LLP via JD SupraSEC proposes crypto custody framework for advisers and funds that would permit self-custody and state trust company custodians
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