The Congressional Research Service reviewed the SEC's current guidance on climate change risk disclosures, the application of SEC criteria for the "materiality" standard on disclosures, current SEC efforts to address climate-related impacts on global supply chain risks, and SEC related environmental, social and governance regulations.
The North American Securities Administrators Association highlighted its major regulatory undertakings during 2020 and outlined challenges faced by the investment adviser industry and state securities regulators as a result of the pandemic.
Senator John Kennedy (R-LA) introduced the "Protecting Investors' Personally Identifiable Information Act." The legislation would exclude personally identifiable information from Consolidated Audit Trail reporting requirements.
A firm settled FINRA charges for placing bids that were well under market value in response to bid-wanted auctions or requests for quotes in municipal securities, thereby failing to exercise its best judgment in determining the fair market value of the securities.
SEC Division of Corporation Finance Acting Chair John Coates and SEC Acting Chief Accountant Paul Munter highlighted potential errors in accounting for warrants issued by Special Purpose Acquisition Companies.
The SEC Division of Examinations observed compliance deficiencies related to environmental, social and governance products and services offered by investment advisers, registered investment companies and pooled investment vehicles.
The SEC Division of Corporation Finance and the Division of Investment Management encouraged issuers to allow shareholder proponents to present their proposals through "alternative means" during the 2020 and 2021 proxy seasons.
FINRA reminded members of their obligations regarding (i) the performance of due diligence on customers seeking to open trade options, (ii) the supervisory reviews of options accounts and (iii) margin requirements for options.
The SEC published in the Federal Register amendments to Regulation NMS that expand national market system information required to be collected, consolidated and disseminated "with respect to quotations for, and transactions in, national market system stocks."