New York partner Kay Gordon was quoted in a Compliance Reporter article titled, “SEC’s IM Reporting Plans Raise Industry Concern.”

The article discussed the SEC’s proposed overhaul of reporting in the asset management industry and the concerns raised by firms during the feedback period. The proposals were designed to enhance the quality of information delivered by investment companies and advisers.

Kay said that one of the trickiest aspects of the proposal for advisors will be sorting out how its effects will differ depending on the size and scope of each registrant. For instance, she said, reporting for separately managed accounts (SMAs) would have a much different impact on smaller firms than larger ones, since if a firm has only one or two SMAs “all of a sudden that account will now be very transparent.”