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.
News & Insights
The OCC, the Federal Reserve Board ("FRB") and the FDIC (collectively, the "Agencies") set effective dates on amendments to rules implementing the Community Reinvestment Act ("CRA"). The agencies published the rule and the effective dates in the Federal Register.
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.