Category: SEC

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EDT
On July 22, 2020, the SEC adopted amendments to its rules that exempt solicitors from furnishing proxy voting advice from the information and filing requirements of the federal proxy rules and issued supplemental guidance on Proxy Voting responsibilities of investment advisers. The adopted amendments aim at providing investors transparent, accurate, and complete information without imposing
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EDT
On June 25, 2020, five agencies, including the OCC, Board, FDIC, SEC, and CFTC, adopted amendments to Section 13 of the BHC Act, also known as the Volcker Rule. OCC here refers to Department of Treasury, Office of the Comptroller of the Currency Board refers to the Federal Reserve System FDIC refers to the Federal
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EDT
On June 22, 2020, the Securities and Exchange Commission and the Antitrust Division of the Department of Justice signed an inter-agency MOU for enhancing competition in the securities industry. Assistant Attorney General Makan Delrahim of the Antitrust Division and the SEC Chairman Jay Clayton executed the historic Memorandum of Understanding. SEC Chairman Jay Clayton said
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EDT
On May 4, 2020, the SEC adopted certain leverages to Regulation Crowdfunding offerings, providing conditional temporary relief for smaller companies on the suggestion given by  members of the SEC’s Small Business Capital Formation Advisory Committee. Under temporary relief, small companies must satisfy certain conditions in addition to the present Reg CF requirements to benefit from
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EDT
FinTech Meetup On June 11, 2020, the Strategic arm of the SEC for Innovation and Financial Technology (FinHub) announced the launch of virtual peer-to-peer meet-ups (P2Ps), as a solution to its in-person meet-ups started in 2019. These meetings allow FinTech (Financial Technology) community to interact with FinHub and discuss their general issues, ask questions, or
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EDT
In view of the current pandemic, the Securities and Exchange Commission has published guidelines for all market participants to provide aid with their annual shareholder meetings by encouraging “virtual” annual meetings and flexibility in rules for date and location of the meetings. Background Pursuant to federal securities laws, many public companies and investment companies are