The SEC adopted final rules on (i) the mandatory clearing of transactions in Treasury securities and (ii) the application of the broker-dealer customer protection rule to Treasury securities.
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SEC Commissioner Mark T. Uyeda warned that rapid change to securities regulations can have wide-spread consequences and that the benefits of globalizing capital markets can only be achieved through "responsible regulation."
The SEC Division of Corporation Finance granted an India-based entity no-action relief from certain Exchange Act tender offer requirements to allow for compliance with applicable Indian law.
Director of the SEC Division of Investment Management William Birdthistle described regulatory developments and the challenges of globalization and interconnectedness to the asset management industry.
The SEC Division of Corporate Finance staff granted no-action relief to a Canada-based oil company which would allow it to conduct a tender offer in the United States in accordance with Canadian law.