American Century Investments, a global asset management firm, has announced it has filed for exemptive
relief for actively managed, semi-transparent exchange-traded funds (ETFs) using Precidian Investment's ActiveShare methodology, the company said.
SMC seeks exemptive
relief on Holcim bid !-- -- Iris Gonzales (The Philippine Star) - May 20, 2019 - 12:00am MANILA, Philippines San Miguel Corp., the diversified conglomerate that won the bid for Holcim Philippines, has asked the Securities and Exchange Commission (SEC) for exemptive
In a disclosure to the Philippine Stock Exchange on Friday, SMC said it had filed an application for exemptive
relief with the SEC relating to the conduct of the mandatory tender offer on Holcim Philippines shares by First Stronghold Cement Industries Inc.
In a disclosure to the Philippine Stock Exchange, SMC Chief Finance Officer Ferdinand Constantino said the firm has filed an application for exemptive
relief with the SEC relating to the conduct of the mandatory tender offer.
Apollo Investment's shift into first lien positions is expected to be supported by its exemptive
order relief with affiliate MidCap Financial (MidCap), a platform Apollo Management acquired in 2013 and that has been in operation since 2008.
Given the lack of exemptive
relief, fiduciary advisers may find it challenging to comply with the prohibited transaction provisions when engaging in principal transactions.
In January this year, state-owned LandBank said it has started its own due diligence audit of the PDSHC, after meeting with the Securities and Exchange Commission to discuss the procedure for applying for a petition for exemptive
relief with the regulatory body.
On March 23, 2018, the Ontario Securities Commission issued an order granting Xenon exemptive
relief from the requirements related to issuer bids under applicable Canadian securities laws in connection with the transfer and assignment to Xenon by Teva Canada Limited of the common shares that have been cancelled by Xenon.
The Treasury also recommends that the SEC move forward with a "plain vanilla" ETF rule "that allows entrants to access the market without the cost and delay of obtaining exemptive
relief orders, subject to conditions the SEC determines appropriate and in the public interest."
In the FAQ, the DOL states that, during that period, the only requirement for exemptive
relief under the BIC is compliance with the impartial conduct standards.
By shifting its regulatory focus toward other areas under the Trump administration, the SEC may not issue an ETF rule in the near or intermediate term, which would continue an environment where different ETF sponsors maintain different capabilities according to the type of exemptive
relief that they possess.