The SEC Division of Investment Management declined a request to take a no-action position from a registered investment company that sought to exclude proxy materials on a shareholder proposal to "declassify" the Fund's Board.
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A broker-dealer settled charges with FINRA it sent confirmations to institutions' customers that "inaccurately reflected the capacity in which the firm acted."
A broker dealer settled FINRA charges for failing to disclose to retail customers markup and markdown information on transactions in debt securities, including municipal securities and corporate and agency debt.
The SEC updated its Proxy Rules and Schedule 14A Manual of Publicly Available Telephone Interpretations and the 1999 Supplement. The SEC said that it is continuing a process of updating broader "Compliance and Disclosure Interpretations" relating to the proxy rules.
A broker-dealer settled charges with FINRA for failing to include required information on customer confirmations for municipal securities transactions.