SEC Division of Corporation Finance Issues C&DI about Conditional Relief Order and Incorporation by Reference Into Form 10-K -
On April 6, the Securities and Exchange Commission’s (SEC) Division of Corporation Finance...more
SEC/CORPORATE -
SEC Further Extends Filing Deadlines for Companies Impacted by COVID-19 -
On March 25, the Securities and Exchange Commission issued an order extending conditional relief (the Modified Order) for...more
CFTC -
CFTC Designates Small Exchange, Inc. as a Designated Contract Market -
On March 10, the Commodity Futures Trading Commission (CFTC) announced that it had issued an Order of Designation approving the application...more
SEC/CORPORATE -
SEC Amends Disclosure Rules for Registered Debt Offerings -
On March 2, the Securities and Exchange Commission adopted amendments to the financial disclosure requirements for registered debt offerings...more
3/9/2020
/ CFTC ,
Coronavirus/COVID-19 ,
Corporate Governance ,
Derivatives ,
Disclosure Requirements ,
European Banking Authority (EBA) ,
European Securities and Markets Authority (ESMA) ,
Exemptive Relief ,
Financial Conduct Authority (FCA) ,
Infectious Diseases ,
National Futures Association ,
New Guidance ,
New Rules ,
Publicly-Traded Companies ,
Securities and Exchange Commission (SEC) ,
Swap Dealers
Key Points
- The Commodity Futures Trading Commission (CFTC) has proposed new rules (Proposal) for the cross-border application of certain of its swap regulations.
- The Proposal includes certain changes relative to the...more
3/4/2020
/ CFTC ,
Collective Investment Schemes ,
Comment Period ,
Commodity Exchange Act (CEA) ,
Cross-Border Transactions ,
Derivatives ,
Employee Retirement Income Security Act (ERISA) ,
Foreign Branch Offices ,
Foreign Branches of U.S. Banks ,
Foreign Investment ,
Foreign Jurisdictions ,
Major Swap Participants ,
New Rules ,
Principal Place of Business ,
Public Comment ,
Securities and Exchange Commission (SEC) ,
Swap Dealers ,
Swaps
BROKER-DEALER -
FINRA Releases Targeted Examination Letter for No Commission Brokers -
On February 20, the Financial Industry Regulatory Authority (FINRA) released a targeted examination letter requesting that certain...more
3/2/2020
/ Bitcoin ,
CFTC ,
Derivatives ,
Derivatives Clearing Organizations ,
European Central Bank ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Reporting Requirements ,
Securities and Exchange Commission (SEC) ,
Swap Data Repositories ,
UGMA ,
UK ,
UTMA
BROKER-DEALER -
SEC Proposes to Modernize Infrastructure for NMS Securities Market Data -
On February 14, the Securities and Exchange Commission proposed to modernize the infrastructure for the collection,...more
BROKER-DEALER -
FINRA Issues Investor Alert Regarding Required Minimum Distributions -
The Financial Industry Regulatory Authority (FINRA) issued an Investor Alert regarding a new law raising the age for required...more
2/18/2020
/ Broker-Dealer ,
CFTC ,
Cryptoassets ,
Digital Assets ,
EMIR ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
IOSCO ,
MiFIR ,
National Futures Association ,
Required Minimum Distributions ,
SECURE Act
SEC/CORPORATE -
SEC Proposes Amendments to Financial Disclosure in Regulation S-K and Issues New Guidance -
On January 30, the Securities and Exchange Commission voted to propose amendments to certain financial...more
2/11/2020
/ AML/CFT ,
Antitrust Provisions ,
Broker-Dealer ,
CFTC ,
Corporate Governance ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
European Securities and Markets Authority (ESMA) ,
Federal Trade Commission (FTC) ,
Financial Industry Regulatory Authority (FINRA) ,
Hart-Scott-Rodino Act ,
MD&A Statements ,
New Guidance ,
Performance Standards ,
Publicly-Traded Companies ,
Regulation S-K ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Threshold Requirements
SEC/CORPORATE -
SEC Division of Corporation Finance Issues C&DIs on Omission of Third Year From MD&A -
As previously discussed in the April 12, 2019 edition of Corporate & Financial Weekly Digest, the Securities and...more
2/3/2020
/ Anti-Money Laundering ,
Bank Holding Company Act ,
C&DIs ,
CFTC ,
Final Rules ,
Financial Statements ,
Incorporation by Reference ,
MD&A Statements ,
NIST ,
OCIE ,
Registration Statement ,
Securities and Exchange Commission (SEC) ,
Transitional Arrangements ,
UK Brexit
BREXIT/UK DEVELOPMENTS -
ESG and Sustainable Investments: House of Lords EU Committee Queries Taxonomy Regulation With HMT -
On January 16, the House of Lords European Union Committee published a letter from the...more
1/28/2020
/ CFTC ,
Climate Change ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
Financial Conduct Authority (FCA) ,
Financial Regulatory Agencies ,
Green Finance ,
MiFID II ,
Sustainable Finance ,
UK Brexit
SEC/CORPORATE -
SEC Approves Amended Rule Change to FINRA Rule 5110 -
On December 23, 2019, the Securities and Exchange Commission approved the Financial Industry Regulatory Authority’s (FINRA) proposed amendments to...more
1/20/2020
/ Amended Rules ,
Auditor Independence ,
Broker-Dealer ,
CFTC ,
Disclosure Requirements ,
EU ,
FDIC ,
Filing Requirements ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
OCC ,
Securities and Exchange Commission (SEC)
BROKER-DEALER -
SEC Proposes Changes to Market Data Plans -
On January 8, the Securities and Exchange Commission (SEC) released a proposed order to improve the governance of National Market System (NMS) data plans...more
1/13/2020
/ Anti-Money Laundering ,
Banking Sector ,
Broker-Dealer ,
CFTC ,
Derivatives ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Markets ,
National Futures Association ,
National Market System (NMS) ,
Securities and Exchange Commission (SEC)
SEC/CORPORATE -
SEC Announces Proposed Amendments to the Definitions of “Accredited Investor” and “Qualified Institutional Buyer” -
On December 18, the Securities and Exchange Commission voted to propose amendments...more
12/23/2019
/ Accredited Investors ,
Broker-Dealer ,
CFTC ,
Comment Period ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Investment Advisers Act of 1940 ,
Investment Company Act of 1940 ,
Libor ,
New Rules ,
Private Placements ,
Proposed Amendments ,
Proposed Rules ,
Public Comment ,
Qualified Institutional Buyers ,
Resource Extraction ,
Rule 144A ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Security-Based Swaps
BROKER-DEALER -
SEC Issues Guidance on Substituted Compliance Applications by Non-US Security-Based Swap Dealers and Major Security-Based Swap Participants -
On November 25, the Securities and Exchange Commission’s...more
12/16/2019
/ Broker-Dealer ,
Capital Requirements ,
CFTC ,
Cryptocurrency ,
Economic and Financial Affairs Council (ECOFIN) ,
Emissions Trading System ,
European Banking Authority (EBA) ,
Final Rules ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Green Finance ,
Popular ,
Securities and Exchange Commission (SEC) ,
Security-Based Swaps ,
Senior Management Regime (SMR) ,
Swap Dealers ,
Swaps
BROKER-DEALER -
FINRA Expands Transparency Initiative Related to OTC Equity Trading Volume -
The Financial Industry Regulatory Authority (FINRA) previously announced an expansion to its ongoing transparency initiative...more
12/9/2019
/ Banking Sector ,
Broker-Dealer ,
CFTC ,
Cross-Border Transactions ,
Derivatives ,
European Securities and Markets Authority (ESMA) ,
Financial Industry Regulatory Authority (FINRA) ,
Investment Management ,
MiFID II ,
NFA ,
Securities and Exchange Commission (SEC)
SEC/CORPORATE -
Glass Lewis Releases 2020 US Proxy Paper Guidelines -
On November 1, Glass Lewis released its 2020 US Proxy Paper Guidelines. The updates to the voting guidelines primarily add additional factors that...more
11/25/2019
/ Broker-Dealer ,
CFTC ,
Corporate Governance ,
Cryptoassets ,
Financial Industry Regulatory Authority (FINRA) ,
Glass Lewis ,
Institutional Shareholder Services (ISS) ,
Proxy Season ,
Proxy Voting Guidelines ,
Sale of Goods Act (SOGA) ,
Securities and Exchange Commission (SEC) ,
Smart Contracts ,
UK
CFTC -
CFTC Proposes Rule to Amend Regulation 160.30 -
On November 12, the Commodity Futures Trading Commission (CFTC) published a proposed rule that would amend CFTC Regulation 160.30 by establishing specific...more
11/18/2019
/ CFTC ,
Comment Period ,
Commodity Pool ,
Commodity Trading Advisors (CTAs) ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Gramm-Leach-Blilely Act ,
MiFID II ,
National Crime Agency (NCA) ,
National Futures Association ,
Proposed Rules ,
Suspicious Activity Reports (SARs) ,
Swap Dealers ,
UK
SEC/CORPORATE -
SEC Proposes New Amendments to Modernize Shareholder Proposal Rules -
On November 5, the Securities and Exchange Commission voted to propose amendments to Rule 14a-8 of the Securities Exchange of 1934...more
11/11/2019
/ Broker-Dealer ,
CFTC ,
Corporate Governance ,
Derivatives ,
Financial Conduct Authority (FCA) ,
Investment Adviser ,
No-Action Letters ,
Proxy Season ,
Proxy Voting Guidelines ,
Publicly-Traded Companies ,
Rule 14a-8 ,
Securities and Exchange Commission (SEC) ,
Shareholder Proposals ,
UK Brexit
SEC/CORPORATE -
SEC Proposes Modernization of Filing Fee Disclosure and Payment Methods -
On October 24, the Securities and Exchange Commission proposed amendments to update filing fee disclosure and payment methods....more
11/4/2019
/ AML/CFT ,
Broker-Dealer ,
CFTC ,
Derivatives ,
Disclosure Requirements ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Foreign Private Issuers ,
Proxy Voting Guidelines ,
Securities and Exchange Commission (SEC) ,
XBRL Filing Requirements
FINANCIAL MARKETS -
FATF Updates List of AML/CFT Deficient Jurisdictions -
On October 18, the Financial Action Task Force (FATF) published its updated list of jurisdictions that have strategic anti-money laundering...more
10/28/2019
/ AML/CFT ,
Broker-Dealer ,
CFTC ,
Derivatives ,
EU ,
FATF ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
Global Market ,
Suspicious Activity Reports (SARs) ,
UK
SEC/CORPORATE -
SEC Issues Legal Bulletin Regarding Shareholder Proposals Exclusion -
On October 16, the staff of the Division of Corporation Finance (Staff) of the Securities and Exchange Commission issued Staff...more
10/21/2019
/ AML/CFT ,
Asset Management ,
Broker-Dealer ,
CFTC ,
Corporate Governance ,
Derivatives ,
Digital Assets ,
Financial Conduct Authority (FCA) ,
FinCEN ,
Rule 14a-8 ,
Rule 14a-8(i)(7) ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Shareholder Proposals ,
Swaps ,
Virtual Currency
BROKER-DEALER -
SEC Proposes to Require Proposed NMS Plan Fee Amendments to Follow Public Notice, Comment and Approval Procedure -
On October 1, the Securities and Exchange Commission proposed an amendment to...more
10/14/2019
/ Banking Sector ,
Broker-Dealer ,
CFTC ,
Derivatives ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Instruments ,
Financial Markets ,
Form CRS ,
Inter-Bank Offered Rates (IBORs) ,
MiFID ,
National Futures Association ,
National Market System (NMS) ,
Regulation Best Interest ,
Securities and Exchange Commission (SEC)
BROKER-DEALER -
SEC Proposes to Amend Quotation Rule for OTC Securities -
The Securities and Exchange Commission (SEC) has proposed to amend Rule 15c2-11, which governs the publication and submission of quotations by...more
SEC/CORPORATE -
SEC Staff Announces Changes to Rule 14a-8 No-Action Request Process -
On September 6, the staff of the Division of Corporation Finance (the Staff) of the Securities and Exchange Commission announced...more
9/16/2019
/ Broker-Dealer ,
CFTC ,
Consolidated Audit Trail ,
Corporate Governance ,
EMIR ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Markets ,
No-Action Letters ,
No-Action Requests ,
Proposed Amendments ,
Regulation Best Interest ,
Rule 14a-8 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act