The SEC reopened the comment periods for proposals to (i) expand the scope of Regulation ATS and (ii) expand regulation of private fund advisers. As outlined in a notice in the Federal Register, comments for both proposals are now due by June 13, 2022.
SEC Investor Advocate Rick A. Fleming urged NASDAQ and the NYSE to revise their listing standards so that business combinations could only be consummated for SPACs when 50 percent or more of public shares are invested in the SPAC post-combination.
SEC Chair Gary Gensler previewed current and future agency efforts to further regulate the "$50 trillion-plus U.S. bond markets." Mr. Gensler asserted that the fixed income markets need (i) greater transparency, (ii) additional rules for electronic platforms and (iii) to increase financial resiliency.
In a new report, the Congressional Research Service summarized two companion bills (one in the House and one in the Senate) that would prohibit financial intermediaries and issuers from mandating the use of arbitration to resolve disputes.