The CFPB reviewed federal student loan servicing practices since required repayments have resumed.
News & Insights
The SEC postponed the effective date of the "Share Repurchase Disclosure Modernization Rule," which requires issuers to provide additional information on the purpose of their repurchase programs. The SEC announced a stay of the "Repurchase Rule" in order to address Administrative Procedure Act deficiencies found by the Fifth Circuit Court of Appeals.
The U.S. Court of Appeals for the Fifth Circuit ordered the SEC to "correct defects" in its final rulemaking on issuer repurchase disclosures.
The SEC set effective and compliance dates for amendments aimed at preventing runs on money market funds during times of financial stress. The SEC is adopting a tiered approach to the transition periods for the final amendments.
Investment Company Institute President and CEO Eric Pan criticized the SEC's adoption of recent rule amendments aimed at preventing a run on money market funds, saying that the SEC "missed the mark" by imposing "mandatory fees along with overly strict liquidity requirements."