Search Results for keywords:"safe harbor"

Found 2 results

Search Results: keywords:"safe harbor"

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  • 2025-00377 — Policy Statement on Compliance Assistance Sandbox Approvals
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    Type:Notice
    Citation:90 FR 1974
    Reading Time:about 28 minutes

    The Consumer Financial Protection Bureau (CFPB) has issued a policy statement introducing the Compliance Assistance Sandbox (CAS) program. This initiative aims to facilitate innovation while ensuring ethical standards, transparency, and competition in consumer financial markets. The CAS program offers companies "Approvals" that provide a safe harbor under federal consumer financial laws if they comply with specified terms. To receive these Approvals, companies must demonstrate that their products solve unmet consumer needs and adhere to strict conditions to prevent market manipulation and maintain fairness.

    Simple Explanation

    The Consumer Financial Protection Bureau has made a new set of rules that let companies safely try out new ideas for helping people with their money, as long as they follow some important rules. But, it's pretty complicated, which might make it hard for some smaller companies to join in.

  • 2025-00248 — Submission for OMB Review; Comment Request; Extension: Rule 3a-4
    Type:Notice
    Citation:90 FR 2049
    Reading Time:about 5 minutes

    The Securities and Exchange Commission (SEC) is seeking an extension for the collection of information under Rule 3a-4, which offers a safe harbor for certain investment advisory programs from being classified as investment companies. These programs typically provide personalized investment management to clients with accounts that fall between minimum requirements for individual accounts and mutual funds. The rule mandates that each account must be managed based on the client's financial situation and investment goals, with annual check-ins to confirm or adjust these parameters. The SEC estimates the paperwork burden of these requirements to be over 57 million hours annually, as approximately 28 million clients are involved in these advisory programs each year.

    Simple Explanation

    The SEC is checking if there are too many rules for investment helpers who help people manage their money, and they spend a lot of time doing paperwork—like homework for grown-ups. They want to know if these rules are making it harder for smaller companies to help people with their money because they might have too much paperwork to do!