The SEC issued an order extending exemptive relief to NYSE Arca, Inc. (the "Exchange") from the requirements of Rule 612 of Regulation NMS. The relief allows designated market participants to offer price improvements to retail orders in sub-penny increments in connection with the Exchange's Retail Liquidity Program. See: SEC Order.

The SEC Office of Investor Education and Advocacy issued an investor bulletin, titled "Bankruptcy for a Public Company," intended to help investors understand what happens when a publicly traded company declares bankruptcy. The investor bulletin explains that, regardless of the type of bankruptcy filed by a company under Chapter 7 or Chapter 11, any common stock in that bankrupt company is likely to be worthless, since the common stock is "the last in line to receive what's available to be distributed in a bankruptcy proceeding." See: SEC Investor Bulletin.

In a letter to the Treasury Department, SIFMA commented on an FAQ issued by the IRS that considered whether financial institutions operating in IGA jurisdictions must obtain self-certifications from new individual account holders. In the guidance, also known as FAQ 10, the IRS advised that if a foreign financial institution cannot obtain a self-certification for a new individual account, it may not treat the account as a Reporting Account or open the account at all. SIFMA noted that FAQ 10 conflicts with the guidance published by several jurisdictions with IGAs in place, including the United

The SEC issued a notice soliciting comments about the extension of information collected in Form 20-F. The notice was published in the Federal Register. Form 20-F is used by foreign private issuers to register securities pursuant to Exchange Act Section 12(b) or (g), or as annual and transitional reports pursuant to Exchange Act Section 13 or 15(d). The information required in the Form 20-F is used by investors in making investment decisions with respect to the securities of such foreign private issuers. Comments must be submitted to the Office of Management and Budget within 30 days of the

The SEC issued a notice soliciting comments about the extension of information collected in Form 40-F, which is used by certain Canadian issuers to register a class of securities pursuant to Exchange Act Section 12(b) or (g), or as an annual report pursuant to Exchange Act Section 13(a) or 15(d). The notice was published in the Federal Register. Comments must be submitted to the Office of Management and Budget within 30 days of the publication of this notice. See: SEC Notice (80 FR 17129).