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Comment Period Securities Regulation

Mayer Brown

CVM Abre Consulta Pública para Discutir o Aprimoramento das Regras de Divulgação de Informações ao Mercado por Companhias Abertas

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A Comissão de Valores Mobiliários (CVM) divulgou, em 13 de maio de 2025, o Edital de Consulta Pública SDM n.º 01/25 (Edital), que submete à apreciação do mercado proposta de substituição integral da Resolução CVM n.º 44/21,...more

A&O Shearman

FCA Primary Market Bulletin No. 55

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The UK Financial Conduct Authority (FCA) has published issue 55 of its Primary Market Bulletin (PMB 55). In PMB 55, the FCA: (i) provides feedback on its consultation in PMB 53, finalises 44 technical and procedural notes,...more

Ropes & Gray LLP

SEC Notices Simplified Co-Investment Relief: A Sigh of Some Relief for Regulated Funds and Their Affiliates

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On April 3, 2025, the SEC filed a notice of intent to grant FS Credit Opportunities Corp. et. al.’s (“FS”)1 amended application for an order permitting certain business development companies (“BDCs”) and closed-end management...more

Eversheds Sutherland (US) LLP

Dual registrant regulatory roundup - April 2025

Welcome to the Regulatory Roundup. Each month, Eversheds Sutherland Investment Services attorneys review significant regulatory developments (including notable rulemakings and guidance from securities regulators) from the...more

Davis Wright Tremaine LLP

FINRA Proposes a Unified Rule for Outside Business Activities and Private Securities Transactions

FINRA proposes a new rule to simplify requirements in Rules 3270 and Rule 3280, aiming to reduce unnecessary burdens. The structure of Proposed FINRA Rule 3290 requires prior written notice for investment-related activity...more

A&O Shearman

IOSCO publishes consultation report on AI in capital markets

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The International Organization of Securities Commissions (IOSCO) has published a consultation report on the use cases, risks and challenges of AI in capital markets. The report, which is based on feedback from IOSCO's members...more

Eversheds Sutherland (US) LLP

Dual registrant regulatory roundup - December 2024

Welcome to the Regulatory Roundup. Each month, Eversheds Sutherland Investment Services attorneys review significant regulatory developments (including notable rulemakings and guidance from securities regulators) from the...more

Bennett Jones LLP

CSA Seeks Comments on Proposed Access Model: Modernized Approach for Delivery of Continuous Disclosure

Bennett Jones LLP on

As an update to our previous blog posts, Greater Flexibility for Reporting Issuers: Access Equals Delivery and CSA Seeks Comments on “Access Equals Delivery” Model for Prospectuses, Financial Statements and MD&A, the Canadian...more

Barnea Jaffa Lande & Co.

New Regulations Ahead: Reporting Obligations for Payment Companies and License Holders

The Israel Securities Authority recently published a draft of a new directive for payment companies and holders of basic initiation licenses or approvals regarding reporting to the Authority. According to the Draft, payment...more

Ballard Spahr LLP

Review of the Accredited Investor Definition Under Dodd-Frank

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On December 14, 2023, the Securities and Exchange Commission (SEC) released a staff report on the definition of accredited investor, examining the current status of the accredited investor pool and discussing several...more

Bass, Berry & Sims PLC

Fifth Circuit Requires SEC to Revisit Share Repurchase Disclosure Rules

Bass, Berry & Sims PLC on

On October 31, the U.S. Court of Appeals for the Fifth Circuit (Fifth Circuit) issued an opinion finding that the U.S. Securities and Exchange Commission (SEC) violated the Administration Procedure Act when adopting recent...more

Goodwin

SEC’s ATS Re-proposal Doubles Down on DeFi and Digital Asset Regulation

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In April 2023, the SEC re-proposed amendments to Exchange Act Rule 3b-16 to expand the definition of what it means to be an exchange. When the SEC initially proposed these amendments in January 2022, there were zero direct...more

Bass, Berry & Sims PLC

The PCAOB Closes Comment Period on Controversial Proposal to Expand Auditor Responsibility for Legal Compliance

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The Public Company Accounting Oversight Board (PCAOB) recently closed the comment period for its proposal (the Proposal) to significantly increase the responsibility of audit firms to evaluate and disclose a subject public...more

DarrowEverett LLP

Danger, Does Not Compute: SEC Takes Aim at Predictive Data Analytics Per Proposed Rules

DarrowEverett LLP on

On July 26, 2023, the Securities and Exchange Commission (“SEC”), in a 3-2 vote, issued a release (the “Release”) containing proposed rules to address conflicts of interest associated with broker dealers’ and investment...more

Jones Day

SEC Reopens Comment Period for Rule Proposing New Disclosures for Security-Based Swaps

Jones Day on

The Situation: The Securities and Exchange Commission ("SEC") has reopened the comment period for its proposed rule requiring public disclosure of security-based swap ("SBS") positions that exceed certain thresholds....more

Skadden, Arps, Slate, Meagher & Flom LLP

SEC Proposes New Conflicts of Interest Rule for Use of AI by Broker-Dealers and Investment Advisers

The passage of omnibus federal legislation on the use of artificial intelligence (AI) is unlikely in the short term, but individual federal agencies continue to address the implementation of AI within the areas they regulate....more

Ballard Spahr LLP

SEC Proposes Additional Conflict-of-Interest Rule for Investment Advisers' and Broker-Dealers' Use of AI in Customer Interactions

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Summary - The U.S. Securities Exchange Commission (SEC) has proposed additional compliance obligations on broker-dealers and investment advisers and their use of artificial intelligence (AI), predictive analytics, and...more

Cadwalader, Wickersham & Taft LLP

SEC Proposes Rule to Address Use of AI By Broker-Dealers and Investment Advisors

Spurred by the prevalent use of predictive data analytics by broker-dealers and investment advisers to direct their recommendations to investors and to ensure that investor interests remain paramount, the Securities and...more

Stikeman Elliott LLP

OSC and AMF Request Comment on Application for Designated Interest Rate Benchmark and Designated Benchmark Administrator

Stikeman Elliott LLP on

The Ontario Securities Commission and the Autorité des marchés financiers (the “Regulators”) recently received an application (the “Application”) from CanDeal Benchmark Administration Services Inc. (“CBAS”) to have Term CORRA...more

Goodwin

Our Comments on the SEC’s Proposed Safeguarding Rule

Goodwin on

On February 16, 2023, we circulated a client alert, “SEC Proposes Radical Transformation of Custody Rule Into New Safeguarding Rule,” concerning the proposed significant transformation of Rule 206(4)-2 (the Custody Rule)...more

Perkins Coie

With Specific Focus on Crypto, SEC Revisits Proposed “Exchange” Definition Changes

Perkins Coie on

The U.S. Securities and Exchange Commission (the SEC or the Commission) voted on Friday, April 14, 2023, to reopen the comment period for previously proposed amendments to Rule 3b-16 under the Exchange Act of 1934 (the...more

BakerHostetler

SEC Adopts Amendments to Share Repurchase Disclosures

BakerHostetler on

Rulemaking Background - On Dec. 15, 2021, the SEC proposed amendments to the disclosure requirements regarding purchases of equity securities made by or on behalf of an issuer or any affiliated purchaser....more

WilmerHale

SEC Adopts Amendments to Issuer Repurchase Disclosure

WilmerHale on

On May 3, 2023, in a 3-2 vote, the SEC adopted amendments to significantly increase the disclosure required about issuer repurchases of their equity securities that are registered under the Securities Exchange Act of 1934....more

Mayer Brown Free Writings + Perspectives

SEC Reopens Comment Period for Proposed Rule Amendments to Modernize Beneficial Ownership Reporting

On April 28, 2023, the Securities and Exchange Commission announced that it was reopening the comment period for the proposed amendments to modernize the rules governing beneficial ownership reporting filed on Schedules 13D...more

Cadwalader, Wickersham & Taft LLP

Indian Securities Regulator Consults on Changes to ESG Disclosure and Ratings Regulation

The Securities and Exchange Board of India (SEBI) launched a consultation paper (Consultation Paper) last month seeking public comment on three topics: (1) ESG disclosure; (2) ESG ratings; and (3) ESG investing by mutual...more

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