Commentary by Steven Lofchie
The U.S. House Financial Services Committee considered legislation to expand and reinforce the SEC's authority to pursue its "mission [] to (1) protect investors; (2) maintain fair, orderly, and efficient markets; and (3) facilitate capital formation."
A FINRA proposal to establish administrative and delivery fees for the new Municipal Advisor Principal Examination was published in the Federal Register.
A broker-dealer settled FINRA charges for failing to adequately supervise short positions in municipal securities, resulting in a failure to cover short positions within the required timeframe of 30 days.
In a comment letter on the potential expansion of short interest reporting requirements, the MFA detailed its support, conditional support and opposition to various proposed enhancements.
The SEC requested comment on certain technical changes as to how EDGAR system filers make submissions and manage their submission permissions. The changes are intended to increase security.