Compliance Advisory Content

On Wednesday, the Securities and Exchange Commission proposed amendments that would require new disclosures when an issuer repurchases its own equity securities.

Last December, the SEC adopted new Rule 2a-5 under the Investment Company Act, which addresses the fair valuation responsibilities of funds and their boards and advisers, along with a companion recordkeeping rule.

The Office of Information and Regulatory Affairs released the Fall 2021 Unified Agenda of Regulatory and Deregulatory Actions on December 13, 2021. The agenda includes regulatory actions that the SEC and CFTC expect to take between now and October 2022.

On November 17, the SEC proposed changes to its 2020 proxy advice amendments. Most notably, the proposal would rescind provisions in the 2020 amendments.

In March 2021, the Securities and Exchange Commission (SEC) adopted interim final rules to implement the Holding Foreign Companies Accountable Act (HFCA Act), which requires the SEC to identify issuers that have filed annual reports with audit reports issued by a registered audit firm...

On December 7, staff of the US Securities and Exchange Commission issued guidance on key LIBOR transition considerations for market participants. The guidance follows the staff's previously issued guidance issued in July 2019.

In October, the SEC re-opened the comment period for its 2015 clawback proposal, which it never adopted. Yesterday, ICI submitted the attached comment letter, once again reiterating that all registered investment companies ("funds") should be excluded from any final rule.

On November 17, the SEC proposed changes to its 2020 proxy advice amendments by a 3-2 vote. Most notably, the proposal would rescind provisions in the 2020 amendments.

The Securities and Exchange Commission yesterday adopted amendments to its proxy rules that will require the use of a "universal proxy card" in contested director elections. Importantly, as ICI strongly recommended, these universal proxy rules will apply only to non-exempt...

Yesterday, the SEC staff rescinded prior guidance and also issued new guidance on the shareholder proposal rule (Rule 14a-8). Rule 14a-8 under the Exchange Act conditionally permits a company's shareholders to include proposals (i.e., recommendations or requirements that a company and...