On September 27th, the SEC advised that, in the event of a government shutdown, the Division of Corporation Finance’s activities will be significantly limited. Particularly, during a shutdown, the Division will be unable to accommodate requests for accelerating registration statements effectiveness, nor will it be able to qualify Form 1-A offering statements. Continue reading "SEC’s Division of Corporation Finance Provides..." »

On September 27th, the SEC advised that, in the event of a government shutdown, the Division of Corporation Finance’s activities will be significantly limited. The Division will be unable to accommodate requests for accelerating registration statements effectiveness, nor will it be able to qualify Form 1-A offering statements. On September 29th, SEC staff further advised registrants that, if they would like the Division of Corporation Finance to consider a request for acceleration of the effective date of a pending registration statement or qualification of a pending offering statement to be dated “September 29, 2023”, they may contact a staff member identified in the letter they received. Registrants also may contact the Disclosure Review Program at (202) 551-2076 or Christian Sandoe, Division of Investment Management, at (202) 551-6949. After 5:30 p.m. September 29th, the Division of Corporation Finance and the Division of Investment Management will not be able to consider requests until the SEC receives appropriations to fund its operations. Continue reading "SEC Guides Registrants Concerning Pending..." »

The SEC has voted to approve a rule that entirely revises and replaces its current regulations under the Privacy Act of 1974, the primary law that oversees how personal information is treated within the federal government. Proposed in February 2023, the rule was designed to clarify, modernize and simplify the language of a number of procedural provisions. The current rules include procedures for making Privacy Act requests, including those for the accessing and amending of records related to the individual making the request. Continue reading "SEC Adopts Revised Privacy Act Rule" »

On September 20th, the SEC adopted amendments to Rule 35d-1 under the Investment Company Names Rule of 2001 (Names Rule) to address certain broad categories of investment company names that may mislead investors about an investment company's investments and risks. For a business development company (BDC) or a registered investment company, the name of its firm is a key marketing tool for the fund, and it provides investors with decision-useful information about the fund. The amendments to the Names Rule, which were proposed in May 2022, are expected to help to ensure that the rule continues to meet its main objective of investor protection.

Continue reading "SEC Adopts Rule Improvements to Inhibit the Use..." »

On September 15th, the SEC announced that it has revised its list of unregistered entities that use inaccurate data to solicit mainly non-US investors. This update includes 29 soliciting entities, three impersonators of real firms, and one bogus regulator. Continue reading "SEC Revises PAUSE List of Firms Using..." »

On September 18, 2023, the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system was updated to Release 23.3. EDGAR now supports the Share Repurchase (SHR) taxonomy which provides the elements for tagging disclosures associated with the SEC’s final rule on Share Repurchase Disclosure Modernization. Continue reading "EDGAR Upgraded to Support 2023 Share Repurchase..." »

On September 18th, 2023, the SEC updated its EDGAR System to Release 23.3. This release includes the new SHR XBRL taxonomy, the new XML version of Form N-CR, and other important changes. Continue reading "EDGAR Release 23.3" »

The SEC’s Investor Advisory Committee will hold an open meeting via webcast on sec.gov that will take place on Thursday, September 21, 2023, at 10:00 a.m. ET. The meeting is free and open for the public to attend. It will cover committee matters, including topics pertaining to Regulation D and swing pricing. {expires: 2023-09-22} Continue reading "SEC Staff to Hold Investor Advisory Committee..." »

The Federal Energy Regulatory Commission’s (FERC) staff will hold its monthly open meeting via webcast on ferc.gov on Thursday, September 21, 2023, at 10:00 a.m. ET. The one-hour meeting is open for the public to attend.{expires: 2023-09-22} Continue reading "FERC to Hold Its Monthly Open Commission Meeting" »

The SEC’s EDGAR Business Office will host a webinar that will include an overview of the EDGAR Next proposing Beta and a presentation of the functionality contained in the potential technical updates to EDGAR. The webinar will take place on Tuesday, September 19, 2023, from 12:00 p.m. to 1:00 p.m. ET. The webinar is free and open for the public to attend. {expires: 2023-09-20} Continue reading "SEC’s EDGAR Business Office to Present Demo on..." »

On September 12th, the SEC released the Interactive Data Test Suite Update 67d-230901. Filers may view an overview of the updates by accessing the Change Log in the final section of the summary file. The SEC has made the public test suite available to assist filers who are using software to validate interactive data prior to its submission to the Electronic Data Gathering, Analysis, and Retrieval (EDGAR) system. Continue reading "SEC Announces Interactive Data Test Suite..." »

The SEC has announced that it is proposing rule and form amendments to improve filer access and account management on the SEC’s Electronic Data Gathering, Analysis, and Retrieval system (EDGAR) connected to potential technical updates to EDGAR (collectively referred to as “EDGAR Next”). Continue reading "SEC Publishes Rule Proposal to Enhance EDGAR..." »

The SEC’s Division of Investment Management will hold an open meeting via webcast on sec.gov that will take place on Wednesday, September 20, 2023, at 10:00 a.m. ET. The meeting is free, open for the public to attend, and will address issues relating to misleading investment disclosures, among other topics. {expires: 2023-09-21} Continue reading "SEC’s Division of Investment Management to Hold..." »