The SEC adopted amendments to "simplify, harmonize, and improve certain aspects of the exempt offering framework." The amendments expand the availability of exemptions in order to "promote capital formation while preserving or enhancing important investor protections."
An SEC proposal to amend registration exemptions related to securities issued by non-reporting companies for certain compensation plans was published in the Federal Register. Comments must be submitted by February 9, 2021.
CFTC Chair Heath Tarbert and SEC Chair Jay Clayton established a one-year pilot program to enhance coordination among agency staff on CFTC enforcement actions that may trigger "bad actor disqualification" provisions under SEC rules.