On November 27th, the SEC released the latest additions to the list of unregistered entities that use inaccurate information about their affiliation, location, or registration to solicit mainly non-US investors. This list is known as the Public Alert: Unregistered Soliciting Entities (PAUSE) list. The update adds 14 soliciting entities, two impersonators of real firms, and four bogus regulators. The SEC’s Office of Market Intelligence, in conjunction with the Office of Investor Education and Advocacy and the Office of International Affairs, periodically revises the PAUSE list. Continue reading "SEC Updates PAUSE List of Firms Using..." »

The Financial Accounting Standards Board (FASB) has released the proposed Accounting Standards Update (ASU), Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities, which was initially issued in 2017 in ASU No. 2017-12. Continue reading "FASB Issues Proposed Improvements to Hedge..." »

The SEC’s Investor Advisory Committee will hold a meeting via webcast on sec.gov that will take place on Thursday, September 19, 2024 at 10:00 a.m. ET. Free and open for the public to attend, the meeting will cover committee matters, including subcommittee reports and approval of previous meeting minutes. {expires: 2024-09-20} Continue reading "SEC Staff to Hold Investor Advisory Committee..." »

On July 19th, the SEC’s Division of Enforcement announced that it has launched the Interagency Securities Council (ISC). The ISC is a governing body that invites federal, state, and local regulatory and law enforcement professionals to convene quarterly to review and discuss current scams, trends, frauds, and mitigation strategies. The ISC launched with representatives from more than 100 departments and agencies. Continue reading "SEC Establishes Interagency Securities Council..." »

On June 24th, the SEC announced that it has revised its list of unregistered entities that use inaccurate data to solicit mainly non-US investors. This list is known as the Public Alert: Unregistered Soliciting Entities (PAUSE) list. The update adds 24 soliciting entities, six impersonators of real firms, and four bogus regulators. Revising the list of soliciting entities that have been the subject of investor complaints allows the SEC to provide information learned through reviewing tips, referrals, complaints, and other sources, helping retail investors avoid potential fraud before they invest. Continue reading "SEC Updates PAUSE List of Firms Using..." »

The SEC’s Investor Advisory Committee will hold an open meeting via webcast on sec.gov that will take place on Thursday, June 6, 2024 at 10:00 a.m. ET. The meeting is free and open for the public to attend. The meeting will cover committee matters, including subcommittee reports and approval of previous meeting minutes. {expires: 2024-06-07} Continue reading "SEC Staff to Hold Investor Advisory Committee..." »

The SEC has announced that it has adopted enhancements to Regulation S-P, the regulation protecting the privacy of consumer financial information. Accepted on May 16th, the changes will require covered institutions (broker-dealers, investment companies, registered investment advisers, and transfer agents) to keep affected individuals apprised of certain types of data breaches that may put them at risk. Continue reading "SEC Approves Revisions to Regulation S-P to..." »

On March 6th, the SEC announced that it is adopting amendments to its rules under the Securities Act and Securities Exchange Act that will make it mandatory for domestic and foreign registrants to include specific climate-related data in their annual reports and registration statements. The SEC initially proposed the rules in March 2022. The final rules will require information about a registrant’s climate-related risks that have materially impacted, or are reasonably likely to have a material impact on, its business strategy, results of operations, or financial condition. Continue reading "SEC Approves Amendments to Enhance and..." »

On January 24th, the SEC adopted rules designed to strengthen investor protections in initial public offerings by special purpose acquisition companies (SPACs) and in subsequent business combination transactions among SPACs and private operating companies (de-SPAC transactions). These new rules include structured data reporting requirements. Continue reading "SEC Approves Rules to Improve Investor..." »

On November 14th, the SEC’s Division of Enforcement announced that in fiscal year 2023 it saw a number of significant enforcement actions that furthered its attempt both to protect investors and promote market integrity. Continue reading "SEC Releases Enforcement Results for Fiscal..." »

On October 16th, SEC’s Division of Examinations published its 2024 examination priorities, the publication that details the Division’s risk-based approach, including the areas it believes may present possible risks to the integrity of the US capital markets and investors. When compiling the examination priorities, the Division is guided by its objectives to promote and improve compliance, prevent fraud, monitor risks, and inform policy. Continue reading "SEC’s Division of Examinations Publishes Fiscal..." »

On October 13th, the SEC announced that it voted to adopt Rule 10c-1a under the Securities Exchange Act of 1934 to increase transparency requirements and improve the efficacy of the securities lending market. The rule requires certain persons to report information about securities loans to a registered national securities association (RNSA). Currently, the Financial Industry Regulatory Authority (FINRA) is the only RNSA. Continue reading "SEC Approves Rule to Enhance Disclosures in the..." »

On September 29th, the SEC announced that it is proposing rule and form amendments that would update the offering process and create customized disclosure requirements for registered index-linked annuities (RILAs). A RILA is one of a number of types of annuity contracts that provides investors a return based on the performance of a market index over a set period of time. These annuities also have a “bounded return” structure that usually limits an investor’s losses when the index goes down, but may also limit that investor’s gains when the index goes up. Continue reading "SEC Proposes Tailored Registration Form for..." »

The SEC has announced that World Investor Week (WIW) 2023 will focus on the significance of investors taking time to do due diligence, and how doing so may help them avoid fraud and to make better informed investment decisions. The event, which also emphasizes investor education and protection, takes place online and in person October 2 through October 8, 2023. {expires: 2023-10-09} Continue reading "SEC Hosts World Investor Week 2023 Centered on..." »

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..." »