Commentary by Steven Lofchie
NFA proposed amendments to rules on communications with the public and promotional materials. The amendments would provide relief to certain CTA members regarding the disclosure of performance results to eligible contract participant clients.
The Federal Financial Institutions Examination Council reminded financial institutions that their business continuity plans should include preparations in the event of a pandemic outbreak.
SEC Commissioner Allison Lee advocated for better disclosure on climate risk. She also weighed-in on proposed advertising rules for investment advisers and criticized proposed reforms to rules for proxy advisors.
The SEC requested comment on the effectiveness of the framework governing the names of registered investment companies and business development companies. The notice was published in the Federal Register.
The Congressional Research Service examined the potential implications for the SEC if the Supreme Court limits or eliminates the agency's use of disgorgement to recover money from violators of federal securities laws.