SEC Operations

The SEC now has its full complement of five commissioners to weigh in on robust regulatory agenda

"[W]e are undertaking this unnecessary PVAB Rehab—gutting the rules so that little of what we adopted less than two years ago remains .... Changing course ...

"Institutional investors—and their investment advisers—often find it helpful to turn to specialized businesses called proxy advisory firms to provide them with voting recommendations concerning important ...

"In addition to eliminating these provisions, the Commission is rescinding certain supplemental guidance for investment advisers that was issued in connection with the 2020 amendments ...

"The majority of shareholders now vote through the grant of proxy in advance of the meeting, electronically. In other words, they fill out a ballot, ...

"I remain perplexed as to why the Commission is taking this action and what changed during the roughly ten months between the adoption of the ...

"Because of the features of these products and their associated risks, it would likely be challenging for an investment professional to recommend such a product ...

"Nevertheless, the CAT lives on, so I support granting additional time to resolve a number of implementation issues, which is what today’s order does"

'The worry is the SEC will fill in the grey areas by rulemaking through Enforcement, and that certainly doesn’t benefit anyone,' says a CCO

"I have underscored that the compliance obligation belongs to the firm, not to the CCO. Reminding firms that compliance is their responsibility helps to ensure ...