SEC Chair Mary Jo White discussed proxy-related issues and ways to build better communication and engagement with shareholders in a speech delivered at the 69th National Conference of the Society of Corporate Secretaries and Governance Professionals. Chair White's speech centered around four proxy-related topics that are being considered by the SEC in the interests of maintaining a fair and efficient proxy voting system: (i) the delivery of preliminary proxy voting results by intermediaries, (ii) a universal proxy ballot, (iii) "unelected" directors and (iv) shareholder proposals. Chair White

The Public Accounting Oversight Board ("PCAOB") proposed amendments to its rules in order to implement the reorganization of its auditing standards. The PCAOB proposed related changes to its rules and attestation, quality control, and ethics and independence standards. The proposed rule amendments were published in the Federal Register. Comments on the proposal should be submitted by July 16, 2015. See: 80 FR 36602.

FINRA issued a regulatory notice requesting comments on a proposal to reduce the delay period for the historic TRACE data sets from 18 to 6 months. FINRA Rule 7730 sets forth the TRACE data products offered by FINRA, including both real-time and aged historical data for most TRACE-eligible securities. FINRA explained that the feedback it has received from firms suggests that 18 months is too long for historic TRACE data to remain useful, and that 6 months would "greatly improve" the data's utility. Additionally, FINRA stated, it believes that a shorter delay period would be sufficient to

FINRA filed a proposal with the SEC to expand the scope of FINRA's alternative trading system ("ATS") transparency initiative. The proposal would amend FINRA Rules 6110 and 6610 to include publishing the remaining equity volume that is executed over the counter by FINRA members, including in non-ATS electronic trading systems and internalized trades. See: Text of the Proposed Rule Change.

FINRA filed a proposal with the SEC to adopt FINRA Rule 7650A relating to the debit process for the collection of fees by the FINRA/Nasdaq Trade Reporting Facility ("FINRA/Nasdaq TRF"). The rule change would require FINRA members that are FINRA/Nasdaq TRF participants to provide a clearing account number for an account at the National Securities Clearing Corporation. This change would permit the FINRA/Nasdaq TRF to debit undisputed or final fees due and owing by the member under the Rule 7600A Series. See: Text of Proposed Rule Change.