The SEC is seeking public comments regarding information providers acting as investment advisers.

The US Securities and Exchange Commission (SEC) has launched a consultation on matters related to the activities of certain information providers, including whether, under particular facts and circumstances, information providers are acting as ‘investment advisers’ under the Investment Advisers Act of 1940. The request specifically focuses on index providers, model portfolio providers, and pricing services. Although there are no US regulations governing indices, the NYSE Arca, Nasdaq and Cboe B

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