In a speech on December 11, 2014, SEC Chair Mary Jo White announced three broad “proactive initiatives” to address the risks of “increasingly complex portfolio composition and operations” in the asset management industry.
Recently the SEC announced enforcement actions which highlight the importance of complying with the beneficial ownership reporting requirements under Sections 13(d), 13(g) and 16(a) of the Securities Exchange Act of 1934, or the Exchange Act.
On November 18, 2014, the Securities and Exchange Commission (SEC) issued Release No. 34-73622 requesting comment on amendments to NASD Rule 2711 governing equity research analysts and research reports.
On November 18, 2014, the Securities and Exchange Commission (SEC) issued Release No. 34-73623 requesting comment on proposed Financial Industry Regulatory Authority (FINRA) Rule 2242 addressing conflicts of interest and disclosure obligations relating to the publication and distribution of debt research reports.
On November 19, 2014, the Securities and Exchange Commission (SEC) unanimously voted to adopt Regulation Systems Compliance and Integrity (Reg SCI), which will govern the technology infrastructure of the U.S.’s securities exchanges and certain other trading platforms and market participants.
With over 10,000 whistleblower tips since 2011, the Securities and Exchange Commission (“SEC”) recently unveiled its most detailed portrait yet of the whistleblowers who have received awards under the SEC incentive program created by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
On November 17, 2014, the SEC released its 2014 Agency Financial Report (AFR), which provides financial and high-level performance results that allow the President, Congress and the public to understand the SEC’s financial picture and accomplishments during the last year.
Last week, the U.S. Securities and Exchange Commission’s Office of the Whistleblower, created in 2011 pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, released its mandated report to Congress on operations for Fiscal Year 2014, ending on September 30, 2014.
The number of whistleblower reports to the SEC increased again in the latest fiscal year, according to the annual report of the SEC whistleblower office.
Late last week, the Financial Industry Regulatory Authority (FINRA) quietly posted a new regulatory notice proposing a series of pay-to-play type rules for its broker-dealer members that closely track the pay-to-play provisions set forth by the Securities and Exchange Commission (SEC) in Rule 206(4)-5.