SIFMA and the Security Traders Association raised concerns about legislative proposals on capital formation and corporate governance currently under consideration by the U.S. Senate Committee on Banking, Housing and Urban Affairs.
SEC Division of Corporation Finance Director William Hinman summarized upcoming rulemaking priorities. The Director described initiatives focused on capital formation and improving the SEC's disclosure regime.
The SEC accepted offers of settlement in two enforcement actions involving "disclosure violations that deprived investors of material information during battles for corporate control of publicly traded companies."
Senator Elizabeth Warren argued that "the SEC has spent precious agency resources on a voluntary effort to reduce disclosure that appears to be aimed at addressing a problem – investor 'information overload' – that does not exist."