Securities and Exchange Commission SEC Proposed Modernizing and Enhancing Information Disclosed and Reported by RICs and RIAs The Commissioners of the Securities and Exchange Commission (“SEC”) unanimously approved two (2) rules which would require enhanced disclosures and increased reporting by registered investment companies (“RICs”) and registered investment advisers (“RIAs”), as well as RIAs’ maintenance of additional performance-related records. RIAs are now required to report: Aggregate information related to the types of assets held in separately managed accounts (“SMAs”) and the SMAs’ use of borrowing and derivatives; and Additional information about an adviser’s advisory business, branch office operations and the use…