On May 25, 2022, the Securities and Exchange Commission (SEC) proposed amending its fund “Name Rule” to limit misleading names for investment funds, including funds focusing on environmentally-sustainable investments. In addition to amending notice and recordkeeping requirements, the proposal would require certain funds to adopt a policy to invest at least 80% of their assets in accordance with the investment focus that the fund’s name suggests.
SEC is accepting comments for 60 days after publication in the Federal Register.