CONTENTS
SEC NEWS
- Chair Gary Gensler announces additions to executive staff
- Chair Gary Gensler speech on cybersecurity and securities law
SEC RULEMAKING
- SEC reopens comment period for ‘pay versus performance’
- SEC proposes amendments to include significant treasury markets platforms within Regulation Alternative Trading Systems (ATS)
- SEC proposes amendments to enhance private fund reporting
FINRA/NYSE
- SEC grants petition to review NYSE appeal of SEC Fee Schedule Order
- FINRA amends Rule 2251 regarding reimbursement rates for processing and forwarding proxy and other issuer-related materials (Regulatory Notice 22-02)
SEC NEWS
Chair Gary Gensler announces additions to executive staff
On December 30, 2021, the SEC announced the appointments of Corey Frayer, Phil Havenstein, Jennifer Songer and Jorge Tenreiro to chair Gary Gensler’s executive staff.
Chair Gary Gensler speech on cybersecurity and securities law
On January 24, 2022, Chair Gary Gensler gave a speech on the importance of improving cybersecurity across the financial services industry.
SEC RULEMAKING
SEC reopens comment period for ‘pay versus performance’
On January 27, 2022, the SEC reopened the comment period on proposed rules under the Dodd-Frank Act requiring disclosure of information reflecting the relationship between executive compensation actually paid by a company and the company's financial performance.
SEC proposes amendments to include significant treasury markets platforms within Regulation Alternative Trading Systems (ATS)
On January 26, 2022, the SEC proposed rules to better protect investors and enhance cybersecurity by bringing more Alternative Trading Systems (ATS) that trade treasuries and other government securities under the regulatory umbrella.
SEC proposes amendments to enhance private fund reporting
On January 26, 2022, the SEC voted to propose amendments to Form PF, the confidential reporting form for certain SEC-registered investment advisers to private funds.
FINRA/NYSE
SEC grants petition to review NYSE appeal of SEC Fee Schedule Order
On January 7, 2022, the SEC granted a review of the NYSE’s petition to review the Division of Trading & Market’s action that disapproved the proposed rule change to move oversight of the fee schedule for forwarding proxy and other materials to beneficial owners to FINRA.
FINRA amends Rule 2251 regarding reimbursement rates for processing and forwarding proxy and other issuer-related materials (Regulatory Notice 22-02)
FINRA has amended, with immediate effectiveness, the provisions of FINRA Rule 2251 regarding rates of reimbursement for expenses incurred in processing and forwarding proxy and other issuer-related materials. FINRA updated their fee schedule to extend notice and access fees to fund shareholder reports (SEC Rule 30e-3) and excluded fee reimbursements for securities transferred by the member firm at no cost.
Read the entire Regulatory Notice.
DOL
DOL guidance on private equity investments in participant-directed retirement savings plans
On December 21, 2021, the DOL released a Supplemental Statement clarifying a June 2020 Information Letter on private equity investments as a component of a professionally managed asset allocation fund offered as an investment option in participant-directed retirement savings plans, such as 401(k) plans.
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