Regulatory Alerts2024-09-21
SEC MC No. 14, Series of 2024: Guidelines on Accreditation of PERA Market Participants
The Securities and Exchange Commission issued Memorandum Circular No. 14, Series of 2024, to establish accreditation requirements for entities seeking registration as Personal Equity and Retirement Account (PERA) Administrators or Investment Managers. The guidelines mandate specific net worth thresholds, corporate governance standards, technological capabilities, and personnel training for Administrators, while requiring proof of investment experience and supervision procedures for Investment Managers. Additionally, the circular outlines security deposit obligations, grounds for suspension or revocation of accreditation, and associated reporting and fee requirements.
Share