How does the rest of the world feel about the U.S. Commodity Futures Trading Commission’s pending swaps regulations? Summed up in two words: not happy. As August drew to a close, a flurry of public comments from regulators and industry groups from across the globe were submitted to the CFTC over Dodd-Frank Act mandates that […]
Joe Mont
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Risk Alert Issued Over Campaign Donations By MSRBs
On Friday, the Securities and Exchange Commission issued a “Risk Alert” intended to encourage better compliance with a Municipal Securities Rulemaking Board (MSRB) rule that limits political contributions by municipal securities professionals to the campaigns of public officials they have done business with, or might do so in the future. MSRB Rule G-37 generally prohibits […]
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Amended Market Risk Capital Rules Begin on Jan. 1
A final rule amending the market risk capital rules that apply to banking organizations engaging in substantial trading activity was published in the Federal Register on Aug. 30 and will go into effect on New Year’s Day. The revisions – developed by the Office of the Comptroller of the Currency, the Board of Governors of […]
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SEC Opens New Form SD Taxonomy for Public Comment
The Securities and Exchange Commission is offering its first look at the new reporting protocol required of oil, gas and mining companies as they report payments to governments and began a public review process. Rather than relying on the traditional 10-K, to facilitate new reporting required under a rule approved earlier this month, as mandated […]
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SEC Committee Heads West To Hear Small Business Concerns
The Securities and Exchange Commission’s Advisory Committee on Small and Emerging Companies will hold its next meeting on Sept. 7 in San Francisco to discuss market structure and disclosure rules among other issues affecting smaller companies The committee was formed last year as a forum for the SEC to receive advice and recommendations on privately-held […]
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SEC Steps Closer to Allowing Advertising of Private Securities
The Securities and Exchange Commission has approved a proposed rule to eliminate the current prohibition against general solicitation and advertising for private securities offerings. The proposed exemptions, mandated by the JOBS Act, focus on offerings conducted under Rule 506 of Regulation D, one of the exemptions widely used by U.S. and foreign issuers to raise […]
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Mining Companies Feel Squeeze, Too
Conflict minerals weren’t the only order of business for the Securities and Exchange Commission last week; mining and energy companies were also saddled with a new heap of disclosures to make about payments to governments—including our own. That rule implements Section 1504 of the Dodd-Frank Act, also known as the Cardin-Lugar provision. Companies working in […]
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What Was Said With Say-on-Pay Votes This Year
As the 2012 proxy season fades into history, the second year of shareholder advisory votes on executive pay will get a close look from corporate boards, senior executives, and shareholder activists alike. And while a full understanding of say-on-pay votes may still be years away, some trends are already starting to emerge. Foremost: Most corporations […]
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Conflicts Start Early on Minerals Rule; ‘Absolutely Insane’
The intent may be noble, but the new rule enacted by the Securities and Exchange Commission mandating disclosure of “conflict minerals” in a company’s supply chain is likely to be an expensive, frustrating compliance challenge for years to come. The SEC approved the rule on Aug. 22 by a 3-2 vote, as required by Section […]
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SEC Chairman Hints at Possible ‘Quiet Period’ Changes
If you didn’t “like” how Facebook’s once eagerly-awaited, now much maligned, Initial Public Offering went down, you may be heartened to hear that the Securities and Exchange Commission may have been prodded into action. Specifically, it is reviewing the “quiet period” pre-IPO companies are supposed to abide by and evaluating existing rules for pre-issuance communications. […]
