The Securities and Exchange Commission (“Commission”) is proposing amendments to the electronic recordkeeping requirements for broker-dealers, security-based swap dealers (“SBSDs”), and major security-based swap participants (“MSBSPs”). DATES: Comments should be received on or before January 3, 2022. View the complete rule proposal https://www.sec.gov/rules/proposed/2021/34-93614.pdf Originally posted at The Securities Law Blog […]
Tag: Securities Law
McKinsey Affiliate to Pay $18 Million for Compliance Failures in Handling of Nonpublic Information
The Securities and Exchange Commission today announced that an affiliate of McKinsey & Company that offers investment options exclusively to current and former McKinsey partners and employees has agreed to pay an $18 million penalty for compliance… Read the Full Press Release Have a securities law question? Call Sallah Astarita […]
SEC Proposes Rule to Provide Transparency in the Securities Lending Market
The Securities and Exchange Commission today published proposed Exchange Act Rule 10c-1, which would require lenders of securities to provide the material terms of securities lending transactions to a registered national securities association, such as… Read the Full Press Release Have a securities law question? Call Sallah Astarita & Cox […]
SEC Proposes Rule Amendments to Proxy Rules Governing Proxy Voting Advice
The Securities and Exchange Commission today voted to propose amendments to its rules governing proxy voting advice. The proposed amendments aim to address concerns expressed by investors and others that the current rules may impede and impair the… Read the Full Press Release Have a securities law question? Call Sallah […]
Awards Totaling More Than $15 Million to Two Whistleblowers
The Securities and Exchange Commission today announced awards of more than $12.5 million and $2.5 million to two whistleblowers whose information and assistance led to a successful SEC enforcement action. The first whistleblower alerted Commission staff to a fraudulent scheme and prompted the opening of an investigation. The second whistleblower’s […]
SEC Appoints New Chairperson and Board Members to the Public Company Accounting Oversight Board
The Securities and Exchange Commission today announced the appointments of Erica Y. Williams as Chairperson and Christina Ho, Kara M. Stein, and Anthony (Tony) C. Thompson as Board members of the Public Company Accounting Oversight Board (PCAOB). Duane… Read the Full Press Release Have a securities law question? Call Sallah […]
SEC Charges Exchange-Traded Product and Its General Partner With Disclosure Failures
The Securities and Exchange Commission today charged United States Oil Fund LP, an exchange-traded product (ETP), and its general partner United States Commodity Funds LLC for misleading statements about limitations imposed by its sole futures commission… Read the Full Press Release Have a securities law question? Call Sallah Astarita & […]
SEC Obtains Emergency Relief in Case Charging Claims Aggregator and Principals with Multi-Million Dollar Fraud
The Securities and Exchange Commission today announced it charged a New Jersey “claims aggregator” – a firm that submits claims on behalf of its clients to administrators tasked with returning settlement funds to harmed investors – and its three… Read the Full Press Release Have a securities law question? Call […]
SEC Updates Electronic Filing Requirements
The Securities and Exchange Commission today published proposed amendments to update electronic filing requirements. The SEC currently permits and sometimes requires certain forms to be filed or submitted in paper format. The proposed rule and form… Read the Full Press Release Have a securities law question? Call Sallah Astarita & […]
SEC Charges Fixed Income Clearing Corp. With Having Inadequate Risk Management Policies
The Securities and Exchange Commission today announced that Fixed Income Clearing Corporation (FICC), a clearing agency, has agreed to pay an $8 million penalty to settle SEC charges that it failed to have adequate risk management policies within its… Read the Full Press Release Have a securities law question? Call […]
