[US SEC Proposes Amendments to Cross-Trading Rules for Registered Funds, Restoring Fixed-Income Securities Cross-Trading] The U.S. SEC announced a proposal to amend Rule 17a-7 of the Investment Company Act, the "Cross-Trading Rule," to restore the ability of registered funds to engage in cross-trading of most fixed-income securities with their affiliates, a practice previously restricted by the 2020 fund valuation rules. The proposal will update conditions related to pricing and oversight and require funds engaging in cross-trading to submit summary reports. SEC Chairman Paul Atkins stated that cross-trading can help funds avoid public market transaction costs. The public comment period will last for 60 days.