In remarks on a webinar sponsored by Principles for Responsible Investment, SEC Chair Gary Gensler reported that he directed SEC staff to develop a rule proposal on mandatory climate risk disclosure by the end of 2021.
In an address before the FINRA Certified Regulatory and Compliance Professional Program, SEC Commissioner Hester M. Peirce considered solutions for enhancing retail investors' access to the financial markets and reducing employment barriers in the financial industry.
FINRA updated its guidance on net capital requirements for brokers or dealers, and customer protection-reserves and custody of securities. The updates to the Interpretations of Financial and Operational Rules were communicated to FINRA by the SEC Division of Trading and Markets.
The SEC Department of Examinations observed deficiencies with respect to compliance programs, conflicts of interest and disclosures in the practices of investment advisers executing principal and cross trades in fixed income securities.