ITEM 1: Private Fund Advisers; Documentation of Registered Investment Adviser Compliance Reviews

OFFICE: Division of Investment Management

STAFF: William A. Birdthistle, Sarah G. ten Siethoff, Melissa S. Gainor, Melissa Harke, Marc Mehrespand, Michael C. Neus, Christine Schleppegrell, Thomas Strumpf

The Commission will consider whether to propose rules and amendments under the Investment Advisers Act of 1940 (“Advisers Act”) for private fund advisers and whether to propose amendments to the compliance rule under the Advisers Act.

For further information, please contact Melissa Harke in the Division of Investment Management at (202) 551-6722.

ITEM 2: Adviser and Fund Cybersecurity Risk Management

OFFICE: Division of Investment Management

STAFF: William A. Birdthistle, Sarah ten Siethoff, Melissa Gainor, Brian M. Johnson, David Joire, Christopher Staley, Amanda Wagner, Juliet Han, Rachel Kuo, and Thomas Strumpf

The Commission will consider whether to propose new rules to address cybersecurity risk management for registered investment advisers and investment companies as well as related amendments to certain rules regarding adviser and fund disclosures under the Investment Advisers Act of 1940 and the Investment Company Act of 1940.

For further information, please contact Melissa Gainor or Brian M. Johnson, Division of Investment Management, at (202) 551-6720.

ITEM 3: Shortening the Securities Transaction Settlement Cycle

OFFICE: Division of Trading and Markets, Division of Investment Management

STAFF: Haoxiang Zhu, David Saltiel, Jeffrey Mooney, Matthew Lee, Susan Petersen, Andrew Shanbrom, Jesse Capelle, Mary Ann Callahan, from the Division of Trading and Markets; Holly Miller, Amy Miller, Emily Rowland, from the Division of Investment Management

The Commission will consider whether to propose rules and rule amendments under the Securities Exchange Act of 1934 to shorten the standard settlement cycle for most securities transactions.  The proposed rules and rule amendments would be applicable to broker-dealers and certain clearing agencies.  The Commission also will consider whether to propose rule amendments under the Investment Advisers Act of 1940 to require investment advisers to maintain certain related records.

For further information, please contact Matthew Lee in the Division of Trading and Markets at (202) 551-5794.