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 municipal securities firm settled FINRA charges for failing to file complete and timely quarterly reports with the Municipal Securities Rulemaking Board and for failing to establish, maintain, and enforce an adequate supervisory system.
SEC Commissioner Jaime Lizárraga criticized the Investment Advisory Committee's draft recommendations on digital engagement practices that urged the SEC to amend existing rules instead of adopting new ones.
The SEC charged five unregistered broker-dealers and four unregistered investment companies with deceptive pre-initial public offerings.
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.