In an address before the Council of Institutional Investors, SEC Commissioner Mark T. Uyeda underscored the importance of adhering to statutory limits in the exercise of administrative power and enforcement, and called for a regulatory framework that provides clear, predictable guidelines for market participants.
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The SEC postponed the effective date of the "Share Repurchase Disclosure Modernization Rule," which requires issuers to provide additional information on the purpose of their repurchase programs. The SEC announced a stay of the "Repurchase Rule" in order to address Administrative Procedure Act deficiencies found by the Fifth Circuit Court of Appeals.
The Government Accountability Office reviewed SEC compliance with the requirements of the Administrative Procedure Act and other various statutory requirements in connection with the adoption of a rule on investment company names.
Dissents to recent SEC rulemakings are garnering attention for their tone and for their challenges to the agency's legal reasoning and authority.
The Congressional Research Service reviewed recent increases to the debt limit and the Treasury Secretary's statutory authority to "invoke extraordinary measures" and declare a "debt issuance suspension period."