The New Jersey Bureau of Securities (the "Bureau") proposed a uniform fiduciary standard for broker-dealers and investment advisers doing business with New Jersey residents. Under the proposal, a firm would be obligated to satisfy both a duty of loyalty and a duty of care. Failure to comply with the fiduciary standard would constitute a "dishonest or unethical practice." The proposal would apply to a very broad range of transactions and activities, including "the opening of, or transfer of, assets to any type of account." To satisfy the duty of care, a broker-dealer would be required to make

The SEC made available a " short form application" to streamline the process for extending the time for confidential treatment of information contained in a material contract. In order to "protect the confidential information from public release" under the Freedom of Information Act after an original confidential treatment order for a material contract expires, registrants must file extension applications under Securities Act Rule 406 or Exchange Act Rule 24b-2 before the existing confidential treatment order's expiration.

In a Risk Alert, the SEC Office of Compliance Inspections and Examinations ("OCIE") urged registrants to review their written policies to ensure compliance with requirements under Regulation S-P (Privacy of Consumer Financial Information and Safeguarding Personal Information). The most common types of inadequacies with respect to the "Safeguards Rule" of Regulation S-P, according to OCIE, include: not providing Initial Privacy Notices, Annual Privacy Notices and Opt-Out Notices to customers; not having written policies and procedures, as mandated under the Safeguards Rule ( e.g., firms had

In a comment letter, SIFMA called on the SEC to suspend a MIAX Emerald, LLC (a U.S. equity options exchange) proposal to establish an Options Regulatory Fee ("ORF"). SIFMA recommended that the SEC consider creating a framework for determining whether the ORFs are consistent with the Exchange Act Section 6(b).