Tag: Rulemaking

SEC Adopts Rules to Enhance and Standardize Climate-Related Disclosures for Investors

The Securities and Exchange Commission today adopted rules to enhance and standardize climate-related disclosures by public companies and in public offerings. The final rules reflect the Commission’s efforts to respond to investors’ demand for more consistent, comparable, and reliable information about the financial effects of climate-related risks on a registrant’s operations and how it manages those risks while balancing concerns…

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U.S. SEC’s Knock From GAO Unlikely to Budge Agency’s View on Crypto Accounting

As the U.S. Securities and Exchange Commission (SEC) Chair keeps chasing non-compliance in crypto, his agency was slammed by the watchdog Government Accountability Office (GAO) for its own compliance failure in issuing crypto accounting standards without treating the policy as a formal rule. So, what now? In practical terms, probably nothing much. The agency is likely to rectify the accusation…

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Trying to halt the SEC

Some of the SEC rule proposals generating the most withering criticism are among those that would have the biggest impact on financial advisors. But the widespread opposition won’t necessarily influence the SEC to revise them substantially before they become final regulations. Financial industry trade associations, bipartisan lawmakers on Capitol Hill and even some investor advocates are strongly resisting SEC proposals…

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Senate Republicans Grill S.E.C. Chair on Pace of Rule Making – The New York Times

At a hearing of the Committee on Banking, Housing and Urban Affairs regarding oversight of the S.E.C., Senator Tim Scott, Republican of South Carolina, said the commission was proposing rules and regulations at “a breakneck pace.” Mr. Scott, who is seeking the 2024 Republican nomination for president, said the commission did not always give businesses and investors sufficient time to…

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Gensler Lags Predecessors in SEC Rulemaking as ESG Plans Linger

The SEC under Chair Gary Gensler is issuing regulations at its slowest pace in decades for a new presidential administration, risking leaving climate disclosure rules and other planned ESG reporting priorities unfinished. The Securities and Exchange Commission has adopted only 22 rules since Gensler became the agency’s leader in April 2021, according to a Bloomberg Law analysis. The tally was…

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SEC’s ‘Hammer’ Approach to Custody Revamp Worries Money Managers

Were the rule adopted as proposed, money managers would have to re-evaluate many custodial agreements. Investment firms would also have to wrestle with additional complexities around whether their arrangements comply with the expanded rule—something that can already be a sensitive judgment call. “It’s not a simple matter of more paperwork,” Avellaneda said. As proposed, the rule could have a “hugely…

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SEC & CFTC Could Write Rules for Crypto Markets – But Likely Won’t Anytime Soon

Regulators are in no hurry to write rules for crypto. The Securities and Exchange Commission and Commodity Futures Trading Commission have brought a combined total of more than 100 enforcement actions against crypto-asset market participants. Yet, neither agency has issued a single crypto-specific rule, and it is unlikely that they will change course any time soon. But what if the…

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The SEC’s Rules Are Getting Unreal – WSJ

The Securities and Exchange Commission’s job is to make markets work. But today’s SEC leadership—which as of August had proposed 26 new rules this year alone—is ignoring the real-world effects of its regulations on market participants. Its approach can be described as “regulation by hypothesis.” If not remedied, it will prove disastrous. Source: The SEC’s Rules Are Getting Unreal –…

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SEC Considers Changes to Trump-Era Rules – WSJ

Among the regulations that the SEC plans to revisit are amendments to its whistleblower award program and a rule requiring oil, gas and mining companies to disclose payments made to foreign governments. Both rules were passed late last year over opposition by the agency’s Democrats. The decision to revisit the rules is part of the SEC’s latest regulatory agenda, released…

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