SEC

SEC Modifies Timing for Filing of Non-Public Form N-PORT Data

 

On February 27, the Securities Exchange Commission (SEC) modified the submission deadlines for registered investment companies filing non-public monthly reports on Form N-PORT. Form N-PORT is a new form for reporting both public and non-public fund portfolio holdings to the Commission in a structured data format. As a result of today’s changes, rather than filing non-public monthly reports with the Commission within 30 days after each month-end, funds will be required to maintain the relevant information in their records and file all three monthly reports with the Commission no later than 60 days after the end of each fiscal quarter. Release.

SEC Adopts Final Rules for Disclosure of Hedging Policies

 

On December 18, “[t]he Securities and Exchange Commission (“SEC”) [] approved final rules to require companies to disclose in proxy or information statements for the election of directors any practices or policies regarding the ability of employees or directors to engage in certain hedging transactions with respect to company equity securities.” Release.

SEC Adopts Rule of Practice 194

 

On December 19, the Securities and Exchange Commission (“SEC”) published its adoption of Rule of Practice 194, which, generally speaking, “creates a transparent, efficient, and comprehensive process for a registered security-based swap dealer or major security-based swap participant, collectively known as SBS Entities, to apply to the Commission for relief from the statutory disqualification prohibition found in Exchange Act Section 15F(b)(6).” Release.

SEC Adopts Rules That Increase the Information Brokers Must Provide to Investors on Order Handling

 

On November 2, the Securities Exchange Commission (“SEC“) announced that it voted to adopt amendments that require broker-dealers to disclose the way that they handle investors’ orders. The new disclosures will provide customers with information about the average rebates the broker received from, and the fees the broker paid to, treading venues. Release.

Settlements of SEC Registration Charges with Two ICO Issuers Serve as Warning and Compliance Models

 

On November 16, the Securities Exchange Commission (“SEC“) announced settled charges against two companies that sold digital tokens in initial coin offerings (“ICOs“). According to the Press Release announcing these settlements, these are the Commission’s first cases imposing civil penalties solely for ICO securities offering registration violations. The remedies agreed to include the return of funds to harmed investors, the registration of the tokens as securities under the Securities Exchange Act of 1934, the filing of periodic reports with the Commission, and the payment of $ 250,000 as a monetary penalty. READ MORE