The SEC’s Division of Corporation Finance will hold a meeting via webcast on sec.gov to discuss and consider whether to adopt amendments to the proxy rules governing proxy voting advice. The Division will also consider whether to propose amendments to revise certain substantive bases for exclusion of shareholder proposals under the SEC’s shareholder proposal rule (Rule 14a-8). {expires: 2022-07-14} Continue reading "SEC Staff to Hold Open Meeting to Discuss Proxy..." »

On June 23rd, the SEC announced that it has approved rules and amendments to Form 13F to increase efficiency and make data more accessible to the public. The amendments will require the filing of certain applications, confidential treatment requests, and forms to be converted from paper to electronic submission. Subject to the rule and form amendments are registered investment advisers, institutional investment managers, and others that file or submit reports to the SEC via the EDGAR system or the Investment Adviser Registration Depository (IARD) system. Continue reading "SEC Approves Amendments to Electronic Filing..." »

On June 22nd, the SEC’s Office of Information and Regulatory Affairs released the Spring 2022 Unified Agenda of Regulatory and Deregulatory Actions (Agenda). The publication lists short- and long-term regulatory actions that administrative agencies plan to take and includes contributions pertaining to the SEC. The Agenda reflects the SEC’s endeavor to both promote efficiency in capital markets and update rules for today’s economy and technologies. The rulemakings disclosed in the Agenda further the agency’s charge to protect investors, maintain fair and orderly markets, and facilitate capital formation. Continue reading "SEC Issues Spring 2022 Regulatory Agenda" »

On June 21th, the SEC updated the EDGAR system to Release 22.2. The system now supports the 2022 version of the International Financial Reporting Standards (IFRS) taxonomy and the 2022Q2 version of the Variable Insurance Product (VIP) taxonomy. The 2022 version of the IFRS taxonomy reflects the same taxonomy that the International Accounting Standards Board published on its website on March 24, 2022. The final 2022Q2 taxonomies’ Release Notes go into further detail on the changes between the 2022Q2 version and the 2022 version of the VIP taxonomy. Continue reading "SEC Releases June 2022 XBRL Taxonomies Update" »

On June 15th, the SEC announced that it has issued a request for comment concerning the actions of some “information providers”. The SEC is requesting information and feedback from the public and anticipates that the details gathered will help determine whether these information providers are acting as “investment advisers” under the Advisers Act. The SEC is specifically focusing the request on index providers, model portfolio providers, and pricing services. Continue reading "SEC Issues Request for Information and Comment..." »

In observance of the Juneteenth National Independence Day, and in treating that day as a federal holiday for filing purposes, the SEC will be closed on Monday, June 20, 2022. The EDGAR system will not receive, process or accept filings. EDGAR will resume normal operations on Tuesday, June 21, 2022. {expires: 2022-06-21} Continue reading "SEC Announces Adjusted Filing Dates in..." »

On June 8th, the SEC announced that is reopening the comment period for the July 2015 proposed amendments and new rules to implement Section 954 of Dodd-Frank concerning listing standards for recovering erroneously awarded compensation. In response to the original proposal, the SEC received numerous comments, and considering the regulatory and market developments since 2015, the SEC is providing an opportunity for the public to offer additional feedback on the 2015 proposal. The reopening also allows for questions newly raised to be addressed. Continue reading "SEC Reopens Comment Period for Recovery of..." »

The SEC’s Office of Investor Education and Advocacy has announced the launch of a game show-themed public service campaign entitled “Investomania” that is designed to help investors make informed investment decisions and protect themselves from fraud. Drawing on the idea that investing may sometimes seem like playing a game, the campaign reaffirms the need for investors to take proper precautions when making investment decisions. Continue reading "SEC Introduces Game Show-Themed Public Service..." »

The SEC has announced that it is proposing amendments to rules and disclosure forms under both the Advisers Act and the Investment Company Act that would both provide investors with information that is consistent, comparable and reliable and help funds and advisers incorporate environmental, social, and governance (ESG) components. The proposed amendments would apply to registered investment companies (funds), business development companies (together with funds), registered investment advisers (advisers), and certain unregistered advisers (together with registered investment advisers) and would require these entities to submit supplemental information regarding their ESG investment practices. Continue reading "SEC Announces Rule Proposals to Enhance..." »

The SEC has adopted rules and form amendments to require the electronic filing or submission of certain documents that currently are permitted to be filed or submitted in paper as well as the use of Inline XBRL for the filing of the financial statements and associated schedules to the financial statements required by Form 11-K. Continue reading "SEC Announces Approved Updates to Electronic..." »

On June 3rd, the FASB announced that it has released a proposed Taxonomy Implementation Guide based on the 2022 US GAAP Financial Reporting Taxonomy related to disclosures about offsetting assets and liabilities. Continue reading "FASB Releases Proposed Taxonomy Implementation..." »

On May 25th, the SEC announced that it is proposing amendments to Rule 35d-1 under the Investment Company Act of 1940, the Investment Company Names Rule of 2001 (Names Rule). For a business development company (BDC) or a registered investment company, the name of its firm is an important marketing tool for the fund, and it conveys to investors useful information about the fund. Continue reading "SEC Proposes Rule Updates to Prohibit..." »