Funds & Advisers
Nov. 13, 2009 -- The SEC has extended the compliance date for Regulation S-AM to June 1, 2010. Regulation S-AM, which applies to all SEC-registered investment companies and advisers, transfer agents, broker-dealers and municipal securities dealers, became effective on September 10, 2009.
The regulation allows a consumer, in certain limited situations, to block affiliates of such registrants from using certain consumer information to market the affiliateís products or services to a consumer unless the consumer is first provided the ability to opt out of such marketing. Unlike Regulation S-P, Regulation S-AM does not limit the registrantís ability to share information. Instead, it limits a registrantís ability to use the eligible information received from an affiliate to solicit the consumer for marketing purposes.