The SEC Division of Corporation Finance provided interpretive guidance confirming that a registered broker-dealer and investment adviser's proposed procedures for offering and selling securities in initial public offerings would not involve a pre-effective sale.
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.Subject to certain conditions, the SEC Division of Investment Management granted an insurance company limited authority to prepare audited financial statements, that are to be filed with Form S-1 for certain insurance contracts, in accordance with statutory accounting principles rather than in accordance with U.S. GAAP.
The SEC granted a limited exemption from certain due diligence requirements, to permit a broker-dealer to publish, or submit for publication, quotations in an interdealer quotation systems for an over the counter security.
The SEC Equity Market Structure Advisory Committee will meet to discuss recommendations and status updates from its subcommittees.
The SEC adopted a national market system plan for the consolidated audit trail, a comprehensive database for all trading activity in the U.S. equity and options markets.