Source: https://www.law.cornell.edu/cfr/text/17/240.13b2-2
Timestamp: 2017-03-24 14:02:22
Document Index: 174002393

Matched Legal Cases: ['art 240', 'art 240', 'art 240', 'art 240', 'art 240', 'art 240', 'art 240', 'art 240', 'art 240', 'art 240', 'arts 240', 'arts 240', 'art 240', 'art 240', 'art 240', 'art 240', 'art 240', 'art 240', 'art 240', 'art 240', 'arts 240', 'art 240', 'art 240', 'arts 240', 'art 240', 'arts 240']

17 CFR 240.13b2-2 - Representations and conduct in connection with the preparation of required reports and documents. | US Law | LII / Legal Information Institute
CFR › Title 17 › Chapter II › Part 240 › Section 240.13b2-2 17 CFR 240.13b2-2 - Representations and conduct in connection with the preparation of required reports and documents.
(a) No director or officer of an issuer shall, directly or indirectly:
(1) Make or cause to be made a materially false or misleading statement to an accountant in connection with; or
(2) Omit to state, or cause another person to omit to state, any material fact necessary in order to make statements made, in light of the circumstances under which such statements were made, not misleading, to an accountant in connection with:
(i) Any audit, review or examination of the financial statements of the issuer required to be made pursuant to this subpart; or
(ii) The preparation or filing of any document or report required to be filed with the Commission pursuant to this subpart or otherwise.
(1) No officer or director of an issuer, or any other person acting under the direction thereof, shall directly or indirectly take any action to coerce, manipulate, mislead, or fraudulently influence any independent public or certified public accountant engaged in the performance of an audit or review of the financial statements of that issuer that are required to be filed with the Commission pursuant to this subpart or otherwise if that person knew or should have known that such action, if successful, could result in rendering the issuer's financial statements materially misleading.
(2) For purposes of paragraphs (b)(1) and (c)(2) of this section, actions that, “if successful, could result in rendering the issuer's financial statements materially misleading” include, but are not limited to, actions taken at any time with respect to the professional engagement period to coerce, manipulate, mislead, or fraudulently influence an auditor:
(i) To issue or reissue a report on an issuer's financial statements that is not warranted in the circumstances (due to material violations of generally accepted accounting principles, generally accepted auditing standards, or other professional or regulatory standards);
(ii) Not to perform audit, review or other procedures required by generally accepted auditing standards or other professional standards;
(iii) Not to withdraw an issued report; or
(iv) Not to communicate matters to an issuer's audit committee.
(c) In addition, in the case of an investment company registered under section 8 of the Investment Company Act of 1940 ( 15 U.S.C. 80a-8), or a business development company as defined in section 2(a)(48) of the Investment Company Act of 1940 ( 15 U.S.C. 80a-2(a)(48)), no officer or director of the company's investment adviser, sponsor, depositor, trustee, or administrator (or, in the case of paragraph (c)(2) of this section, any other person acting under the direction thereof) shall, directly or indirectly:
(i) Make or cause to be made a materially false or misleading statement to an accountant in connection with; or
(ii) Omit to state, or cause another person to omit to state, any material fact necessary in order to make statements made, in light of the circumstances under which such statements were made, not misleading to an accountant in connection with:
(A) Any audit, review, or examination of the financial statements of the investment company required to be made pursuant to this subpart; or
(B) The preparation or filing of any document or report required to be filed with the Commission pursuant to this subpart or otherwise; or
(2) Take any action to coerce, manipulate, mislead, or fraudulently influence any independent public or certified public accountant engaged in the performance of an audit or review of the financial statements of that investment company that are required to be filed with the Commission pursuant to this subpart or otherwise if that person knew or should have known that such action, if successful, could result in rendering the investment company's financial statements materially misleading.
[ 68 FR 31830, May 28, 2003]
Title 17 published on 2015-12-04The following are ALL rules, proposed rules, and notices (chronologically) published in the Federal Register relating to 17 CFR Part 240 after this date.2017-03-15; vol. 82 # 49 - Wednesday, March 15, 201782 FR 13928 - Proposed Amendments to Municipal Securities Disclosure
typeregulations.gov FR Doc.2017-04323 RIN3235-AL97 Release No.34-80130 File No.S7-01-17 SECURITIES AND EXCHANGE COMMISSION Proposed rule amendments. Comments should be received on or before May 15, 2017. 17 CFR Part 240 SummaryThe Securities and Exchange Commission (“Commission” or “SEC”) is publishing for comment proposed amendments to the Municipal Securities Disclosure Rule (Rule 15c2-12) under the Securities Exchange Act of 1934 (“Exchange Act”) that would amend the list of event notices that a broker, dealer, or municipal securities dealer (collectively, “dealers”) acting as an underwriter in a primary offering of municipal securities must reasonably determine that an issuer or an obligated person has undertaken, in a written agreement or contract for the benefit of holders of the municipal securities, to provide to the Municipal Securities Rulemaking Board (“MSRB”).
2016-12-28; vol. 81 # 249 - Wednesday, December 28, 201681 FR 95458 - Changes to Exchange Act Registration Requirements To Implement Title V and Title VI of the JOBS Act; Correction
typeregulations.gov FR Doc.2016-31286 RIN3235-AL40 File No.S7-12-14 Release No.33-10075A 34-77757A SECURITIES AND EXCHANGE COMMISSION Final rule; technical correction. Effective December 28, 2016. 17 CFR Part 240 SummaryThis document makes technical corrections to a rule that was published in the Federal Register on May 10, 2016 (81 FR 28689). The Commission adopted revisions to Rule 12g-1 under the Securities Exchange Act of 1934 (“Exchange Act”) in light of the statutory changes made by Title V and Title VI of the Jumpstart Our Business Startups Act and Title LXXXV of the Fixing America&apos;s Surface Transportation Act. This document is being published to correct language in that rule to more precisely reflect the holder of record threshold established by Exchange Act Section 12(g)(1).
2016-11-10; vol. 81 # 218 - Thursday, November 10, 201681 FR 79122 - Universal Proxy
typeregulations.gov FR Doc.2016-26349 RIN3235-AL84 Release No.34-79164 IC-32339 File No.S7-24-16 SECURITIES AND EXCHANGE COMMISSION Proposed rule. Comments should be received on or before January 9, 2017. 17 CFR Part 240 SummaryWe are proposing amendments to the federal proxy rules to require the use of universal proxies in all non-exempt solicitations in connection with contested elections of directors other than those involving registered investment companies and business development companies. Our proposal would require the use of universal proxies that include the names of both registrant and dissident nominees and thus allow shareholders to vote by proxy in a manner that more closely resembles how they can vote in person at a shareholder meeting. We further propose amendments to the form of proxy and proxy statement disclosure requirements to specify clearly the applicable voting options and voting standards in all director elections.
2016-10-13; vol. 81 # 198 - Thursday, October 13, 201681 FR 70744 - Definition of Covered Clearing Agency
typeregulations.gov FR Doc.2016-23892 RIN3235-AL48 Release No.34-78963 File No.S7-23-16 SECURITIES AND EXCHANGE COMMISSION Proposed rule amendments. Submit comments on or before December 12, 2016. 17 CFR Part 240 SummaryThe Securities and Exchange Commission (“SEC” or “Commission”) proposes to amend the definition of “covered clearing agency” under Rule 17Ad-22 to mean a registered clearing agency that provides the services of a central counterparty (“CCP”), central securities depository (“CSD”), or a securities settlement system (“SSS”). The Commission also proposes a definition of “securities settlement system” and proposes to amend the definitions of “central securities depository services” to facilitate the proposed amendment to “covered clearing agency.” In addition, the Commission proposes to amend the definition of “sensitivity analysis” under Rule 17Ad-22 to expand the scope of covered clearing agencies subject to requirements thereunder. These amendments are proposed pursuant to Section 17A of the Securities Exchange Act of 1934 (“Exchange Act”) and the Payment, Clearing, and Settlement Supervision Act of 2010 (“Clearing Supervision Act”), enacted in Title VIII of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank Act”).
81 FR 70786 - Standards for Covered Clearing Agencies
typeregulations.gov FR Doc.2016-23891 RIN3235-AL48 File No.S7-03-14 Release No.34-78961 SECURITIES AND EXCHANGE COMMISSION Final rule. Effective date: December 12, 2016. Compliance date: April 11, 2017. The compliance date is discussed in Part II.G below. 17 CFR Part 240 SummaryThe Securities and Exchange Commission (“SEC” or “Commission”) is adopting amendments to Rule 17Ad-22 and adding new Rule 17Ab2-2 pursuant to Section 17A of the Securities Exchange Act of 1934 (“Exchange Act”) and the Payment, Clearing, and Settlement Supervision Act of 2010 (“Clearing Supervision Act”), enacted in Title VIII of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank Act”). Among other things, the rules establish enhanced standards for the operation and governance of those clearing agencies registered with the Commission (“registered clearing agencies”) that meet the definition of “covered clearing agency.”
2016-10-05; vol. 81 # 193 - Wednesday, October 5, 201681 FR 69240 - Amendment to Securities Transaction Settlement Cycle
typeregulations.gov FR Doc.2016-23890 RIN3235-AL86 Release No.34-78962 File No.S7-22-16 SECURITIES AND EXCHANGE COMMISSION Proposed rule. Submit comments on or before December 5, 2016. 17 CFR Part 240 SummaryThe Securities and Exchange Commission (“Commission”) proposes to amend Rule 15c6-1(a) under the Securities Exchange Act of 1934 (“Exchange Act”) to shorten the standard settlement cycle for most broker-dealer transactions from three business days after the trade date (“T+3”) to two business days after the trade date (“T+2”). The proposed amendment is designed to reduce a number of risks, including credit risk, market risk, and liquidity risk and, as a result, reduce systemic risk for U.S. market participants.
2016-09-02; vol. 81 # 171 - Friday, September 2, 201681 FR 60585 - Access to Data Obtained by Security-Based Swap Data Repositories
typeregulations.gov FR Doc.2016-21137 RIN3235-AL74 File No.S7-15-15 Release No.34-78716 SECURITIES AND EXCHANGE COMMISSION Final rule. Effective November 1, 2016. 17 CFR Part 240 SummaryPursuant to section 763(i) of Title VII (“Title VII”) of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank Act”), the Securities and Exchange Commission (“Commission”) is adopting amendments to rule 13n-4 under the Securities Exchange Act of 1934 (“Exchange Act”) related to regulatory access to security-based swap data held by security-based swap data repositories. The rule amendments would implement the conditional Exchange Act requirement that security-based swap data repositories make data available to certain regulators and other authorities.
2016-07-27; vol. 81 # 144 - Wednesday, July 27, 201681 FR 49163 - Order Recognizing the Resource Extraction Payment Disclosure Requirements of the European Union, Canada and the U.S. Extractive Industries Transparency Initiative as Substantially Similar to the Requirements of Rule 13q-1 Under the Securities Exchange Act of 1934
typeregulations.gov FR Doc.2016-15677 RIN Release No.34-78169 SECURITIES AND EXCHANGE COMMISSION Order. July 27, 2016. 17 CFR Part 240 SummaryWe are issuing an order recognizing the resource extraction payment disclosure requirements of the European Union, Canada and the U.S. Extractive Industries Transparency Initiative as substantially similar to the requirements of Rule 13q-1 under the Securities Exchange Act of 1934.
81 FR 49360 - Disclosure of Payments by Resource Extraction Issuers
typeregulations.gov FR Doc.2016-15676 RIN3235-AL53 Release No.34-78167 File No.S7-25-15 SECURITIES AND EXCHANGE COMMISSION Final rule. Effective date: The final rule and form amendment are effective September 26, 2016. Compliance date: A resource extraction issuer must comply with the final rule and form for fiscal years ending on or after September 30, 2018. 17 CFR Parts 240 and 249b SummaryWe are adopting Rule 13q-1 and an amendment to Form SD to implement Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act relating to the disclosure of payments by resource extraction issuers. Rule 13q-1 was initially adopted by the Commission on August 22, 2012, but it was subsequently vacated by the U.S. District Court for the District of Columbia. Section 1504 of the Dodd-Frank Act added Section 13(q) to the Securities Exchange Act of 1934, which directs the Commission to issue rules requiring resource extraction issuers to include in an annual report information relating to any payment made by the issuer, a subsidiary of the issuer, or an entity under the control of the issuer, to a foreign government or the Federal Government for the purpose of the commercial development of oil, natural gas, or minerals. Section 13(q) requires a resource extraction issuer to provide information about the type and total amount of such payments made for each project related to the commercial development of oil, natural gas, or minerals, and the type and total amount of payments made to each government. In addition, Section 13(q) requires a resource extraction issuer to provide information about those payments in an interactive data format.
81 FR 49432 - Disclosure of Order Handling Information
typeregulations.gov FR Doc.2016-16967 RIN3235-AL67 Release No.34-78309 File No.S7-14-16 SECURITIES AND EXCHANGE COMMISSION Proposed rule. Comments should be received on or before September 26, 2016. 17 CFR Parts 240 and 242 SummaryThe Securities and Exchange Commission (“Commission” or “SEC”) is proposing to amend Rules 600 and 606 of Regulation National Market System (“Regulation NMS”) under the Securities Exchange Act of 1934 (“Exchange Act”) to require additional disclosures by broker-dealers to customers about the routing of their orders. Specifically, with respect to institutional orders, the Commission is proposing to amend Rule 606 of Regulation NMS to require a broker-dealer, upon request of its customer, to provide specific disclosures related to the routing and execution of the customer&apos;s institutional orders for the prior six months. The Commission also is proposing to amend Rule 606 of Regulation NMS to require a broker-dealer to make publicly available aggregated information with respect to its handling of customers&apos; institutional orders for each calendar quarter. With respect to retail orders, the Commission is proposing to make targeted enhancements to current order routing disclosures under Rule 606 by requiring limit order information to be broken down into marketable and non-marketable categories, requiring the disclosure of the net aggregate amount of any payment for order flow received, payment from any profit-sharing relationship received, transaction fees paid, and transaction rebates received by a broker-dealer from certain venues, requiring broker-dealers to describe any terms of payment for order flow arrangements and profit-sharing relationships with certain venues that may influence their order routing decisions, and eliminating the requirement to divide retail order routing information by listing market. In connection with these new requirements, the Commission is proposing to amend Rule 600 of Regulation NMS to include a number of newly defined terms which are used in the proposed amendments to Rule 606. The Commission is also proposing to amend Rules 605 and 606 of Regulation NMS to require that the public order execution and order routing reports be kept publicly available for a period of three years and to make conforming changes to Rule 607. Finally, the Commission is proposing to amend Rule 3a51-1(a) under the Exchange Act; Rule 13h-1(a)(5) of Regulation 13D-G; Rule 105(b)(1) of Regulation M; Rules 201(a) and 204(g) of Regulation SHO; Rules 600(b), 602(a)(5), 607(a)(1), and 611(c) of Regulation NMS; and Rule 1000 of Regulation SCI, to update cross-references as a result of this proposed rule.
2016-06-17; vol. 81 # 117 - Friday, June 17, 201681 FR 39808 - Trade Acknowledgment and Verification of Security-Based Swap Transactions
typeregulations.gov FR Doc.2016-13915 RIN3235-AK91 Release No.34-78011 File No.S7-03-11 SECURITIES AND EXCHANGE COMMISSION Final rule. Effective Date: August 16, 2016. Compliance date: The applicable compliance date is discussed in Section V of this final rule. 17 CFR Part 240 SummaryIn accordance with Section 764(a) of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (“Dodd-Frank Act”), the Securities and Exchange Commission (“Commission”) is adopting Rules 15Fi-1 and 15Fi-2 under the Securities Exchange Act of 1934 (“Exchange Act”) requiring security-based swap dealers and major security-based swap participants to provide trade acknowledgments and to verify those trade acknowledgments in security-based swap transactions. The Commission also is amending Rule 3a71-6 under the Exchange Act to address the potential availability of substituted compliance in connection with those trade acknowledgment and verification requirements.
2016-05-26; vol. 81 # 102 - Thursday, May 26, 201681 FR 33374 - Retail Foreign Exchange Transactions
typeregulations.gov FR Doc.2016-12390 RIN3235-AL19 File No.S7-30-11 Release No.34-77874 SECURITIES AND EXCHANGE COMMISSION Expiration of regulation. May 26, 2016. 17 CFR Part 240 SummaryRule 15b12-1, by its terms, will expire and no longer be effective on July 31, 2016. Interested persons should be aware that as of that date, any broker or dealer, including a broker or dealer that is also dually registered as a futures commission merchant (“BD/FCM”), shall be prohibited under the Commodity Exchange Act (“CEA”) from offering or entering into a transaction described in the CEA with a person who is not an eligible contract participant (“retail forex transaction”).
2016-05-24; vol. 81 # 100 - Tuesday, May 24, 201681 FR 32643 - Business Conduct Standards for Security-Based Swap Dealers and Major Security-Based Swap Participants; Correction
typeregulations.gov FR Doc.2016-12166 RIN3235-AL10 File No.S7-25-11 Release No.34-77617A SECURITIES AND EXCHANGE COMMISSION Final rule; correction. Effective: May 24, 2016. 17 CFR Part 240 SummaryThe Securities and Exchange Commission (“SEC” or “Commission”) is making a technical correction to a burden estimate for Paperwork Reduction Act purposes and a corresponding estimate in the Economic Analysis of the business conduct standards for security-based swap dealers and major security-based swap participants.
2016-05-13; vol. 81 # 93 - Friday, May 13, 201681 FR 29960 - Business Conduct Standards for Security-Based Swap Dealers and Major Security-Based Swap Participants
typeregulations.gov FR Doc.2016-10918 RIN3235-AL10 Release No.34-77617 File No.S7-25-11 SECURITIES AND EXCHANGE COMMISSION Final rule. Effective Date: July 12, 2016. Compliance Date: The compliance dates are discussed in Section IV.B of this release. 17 CFR Part 240 SummaryIn accordance with Section 764 of Title VII (“Title VII”) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”), the Securities and Exchange Commission (“SEC” or “Commission”) is adopting new rules under the Securities Exchange Act of 1934 (“Exchange Act”) that are intended to implement provisions of Title VII relating to business conduct standards and the designation of a chief compliance officer for security-based swap dealers and major security-based swap participants. The final rules also address the cross-border application of the rules and the availability of substituted compliance.
2016-04-01; vol. 81 # 63 - Friday, April 1, 201681 FR 18747 - General Rules and Regulations, Securities Exchange Act of 1934
typeregulations.gov FR Doc.2016-07561 RIN SECURITIES AND EXCHANGE COMMISSION 17 CFR Part 240 Summary
2016-03-11; vol. 81 # 48 - Friday, March 11, 201681 FR - Security-Based Swap Transactions Connected With a Non-U.S. Person&apos;s Dealing Activity That Are Arranged, Negotiated, or Executed by Personnel Located in a U.S. Branch or Office or in a U.S. Branch or Office of an Agent; Security-Based Swap Dealer De Minimis Exception
typeregulations.gov FR Doc.C1-2016-03178 RIN3235-AL73 File No.S7-06-15 Release No.34-77104 SECURITIES AND EXCHANGE COMMISSION 17 CFR Part 240 Summary
2016-02-23; vol. 81 # 35 - Tuesday, February 23, 201681 FR 8867 - Transfer Agent Regulations; Extension of Comment Period
typeregulations.gov FR Doc.2016-03733 RIN3235-AL55 Release No.34-77172 File No.S7-27-15 SECURITIES AND EXCHANGE COMMISSION Advance notice of proposed rulemaking; Concept release; Request for comment; extension of comment period. Comments on the document published December 31, 2015 (80 FR 81948) must be in writing and received by April 14, 2016. 17 CFR Part 240 SummaryThe Securities and Exchange Commission (“Commission”) is extending the comment period for the Advance Notice of Proposed Rulemaking, Concept Release and Request for Comment with respect to transfer agent regulations. The original comment period is scheduled to end on February 29, 2016. The Commission is extending the time period in which to provide the Commission with comments by 45 days, until April 14, 2016. This action will allow interested persons additional time to analyze the issues and prepare their comments.
2016-02-19; vol. 81 # 33 - Friday, February 19, 201681 FR 8598 - Security-Based Swap Transactions Connected With a Non-U.S. Person&apos;s Dealing Activity That Are Arranged, Negotiated, or Executed by Personnel Located in a U.S. Branch or Office or in a U.S. Branch or Office of an Agent; Security-Based Swap Dealer De Minimis Exception
typeregulations.gov FR Doc.2016-03178 RIN3235-AL73 File No.S7-06-15 Release No.34-77104 SECURITIES AND EXCHANGE COMMISSION Final rule. Effective Date: April 19, 2016. Compliance Date: The later of (a) February 21, 2017 or (b) the SBS Entity Counting Date, as defined in Section VII of the Supplementary Information. 17 CFR Part 240 SummaryThe Securities and Exchange Commission (“SEC” or “Commission”) is adopting amendments to Exchange Act rules 3a71-3 and 3a71-5 that address the application of the de minimis exception to security-based swap transactions connected with a non-U.S. person&apos;s security-based swap dealing activity that are arranged, negotiated, or executed by personnel of such person located in a U.S. branch or office, or by personnel of such person&apos;s agent, located in a U.S. branch or office.
2016-01-27; vol. 81 # 17 - Wednesday, January 27, 201681 FR 4598 - Extension of Comment Period for Disclosure of Payments by Resource Extraction Issuers
typeregulations.gov FR Doc.2016-01545 RIN3235-AL53 File No.S7-25-15 Release No.34-76958 SECURITIES AND EXCHANGE COMMISSION Extension of comment period. The comment period for the proposed rule published on December 23, 2015 (80 FR 80057), is extended. Initial comments are due on February 16, 2016. Reply comments, which may respond only to issues raised in the initial comment period, are due on March 8, 2016. In developing the final rules, the Commission may rely on both new comments and comments that have been received to date, including those that were provided in connection with the prior rules that the Commission issued under Section 13(q). 17 CFR Parts 240 and 249 SummaryThe Securities and Exchange Commission is extending the comment period for a release proposing new Rule 13q-1 and an amendment to Form SD to implement Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act relating to disclosure of payments by resource extraction issuers [Release No. 34-76620 (Dec. 11, 2015); 80 FR 80057 (Dec. 23, 2015)]. The comment period for the proposal is divided between an initial comment period and a period for reply comments. The original initial comment period is scheduled to end on January 25, 2016 and the original period for reply comments is scheduled to end on February 16, 2016. The Commission is extending the time period in which to provide the Commission with initial comments until February 16, 2016 and to provide reply comments until March 8, 2016. This action will allow interested persons additional time to analyze the issues and prepare their comments.
2016-01-21; vol. 81 # 13 - Thursday, January 21, 201681 FR 3354 - Access to Data Obtained by Security-Based Swap Data Repositories and Exemption From Indemnification Requirement
typeregulations.gov FR Doc.2016-01148 RIN3235-AL74 File No.S7-15-15 Release No.34-76922 SECURITIES AND EXCHANGE COMMISSION Reopening of comment period. The comment period for the proposed rule published September 14, 2015, at 80 FR 55182, is reopened. Submit comments on or before February 22, 2016. 17 CFR Part 240 SummaryThe Securities and Exchange Commission (“Commission”) is reopening the comment period for proposed amendments to rule 13n-4 under the Securities Exchange Act of 1934 (“Exchange Act”) related to regulatory access to security-based swap data held by security-based swap data repositories. The proposed rule amendments would implement Exchange Act provisions that conditionally require that security-based swap data repositories make data available to certain regulators and other authorities. Recent legislation has modified certain underlying statutory provisions.
2015-12-31; vol. 80 # 251 - Thursday, December 31, 201580 FR 81948 - Transfer Agent Regulations
typeregulations.gov FR Doc.2015-32755 RIN3235-AL55 File No.S7-27-15 Release No.34-76743 SECURITIES AND EXCHANGE COMMISSION, 17 CFR Part 240 Advance notice of proposed rulemaking; Concept release; Request for comment. Comments must be in writing and received by February 29, 2016. SummaryThe Securities and Exchange Commission (“Commission”) is publishing this Advance Notice of Proposed Rulemaking, Concept Release, and Request for Comment on Transfer Agent Regulations (“release”) to seek public comment regarding the Commission&apos;s transfer agent rules. The first transfer agent rules were adopted in 1977 and remain essentially unchanged. At the same time, transfer agents now operate in a market structure that bears little resemblance to the structure in 1977. The release, noting the importance of transfer agents within the national market structure, includes a history of transfer agent services and applicable regulations as well as an overview of current transfer agent services and activities, and requests comment on all topics. The release includes an Advance Notice of Proposed Rulemaking in specific areas, such as transfer agent registration and reporting requirements, safeguarding of funds and securities, and revision of obsolete or outdated rules, along with requests for comment, as well as a Concept Release and Request for Comment addressing additional areas of specific Commission interest, including processing of book-entry securities, broker-dealer recordkeeping for beneficial owners, transfer agents to mutual funds, and administration of issuer plans. The Commission intends to consider the public&apos;s comments in connection with any future rulemaking, and comments to the Advance Notice of Proposed Rulemaking will be used to further consider the sufficiency and scope of the rulemaking proposals described therein.
2015-12-28; vol. 80 # 248 - Monday, December 28, 201580 FR 80998 - Regulation of NMS Stock Alternative Trading Systems
typeregulations.gov FR Doc.2015-29890 RIN3235-AL66 Release No.34-76474 File No.S7-23-15 SECURITIES AND EXCHANGE COMMISSION Proposed rule. Comments should be received on or before February 26, 2016. 17 CFR Parts 240, 242, 249 SummaryThe Securities and Exchange Commission is proposing to amend the regulatory requirements in Regulation ATS under the Securities Exchange Act of 1934 (“Exchange Act”) applicable to alternative trading systems (“ATSs”) that transact in National Market System (“NMS”) stocks (hereinafter referred to as (“NMS Stock ATSs”), including so called “dark pools.” First, the Commission is proposing to amend Regulation ATS to adopt Form ATS-N to provide information about the broker-dealer that operates the NMS Stock ATS (“broker-dealer operator”) and the activities of the broker-dealer operator and its affiliates in connection with the NMS Stock ATS, and to provide detailed information about the manner of operations of the ATS. Second, the Commission is proposing to make filings on Form ATS-N public by posting certain Form ATS-N filings on the Commission&apos;s internet Web site and requiring each NMS Stock ATS that has a Web site to post on the NMS Stock ATS&apos;s Web site a direct URL hyperlink to the Commission&apos;s Web site that contains the required documents. Third, the Commission is proposing to amend Regulation ATS to provide a process for the Commission to determine whether an entity qualifies for the exemption from the definition of “exchange” under Exchange Act Rule 3a1-1(a)(2) with regard to NMS stocks and declare an NMS Stock ATS&apos;s Form ATS-N either effective or, after notice and opportunity for hearing, ineffective. Fourth, under the proposal, the Commission could suspend, limit, or revoke the exemption from the definition of “exchange” after providing notice and opportunity for hearing. Fifth, the Commission is proposing to require that an ATS&apos;s safeguards and procedures to protect subscribers&apos; confidential trading information be written. The Commission is also proposing to make conforming changes to Regulation ATS and Exchange Act Rule 3a1-1(a). Additionally, the Commission is requesting comment about, among other things, changing the requirements of the exemption from the definition of “exchange” pursuant to Exchange Act Rule 3a1-1(a) for ATSs that facilitate transactions in securities other than NMS stocks. Lastly, the Commission is also requesting comment regarding its consideration to amend Exchange Act Rules 600 and 606 to improve transparency around the handling and routing of institutional customer orders by broker-dealers.
2015-12-23; vol. 80 # 246 - Wednesday, December 23, 201580 FR 79757 - Establishing the Form and Manner with which Security-Based Swap Data Repositories Must Make Security-Based Swap Data Available to the Commission
typeregulations.gov FR Doc.2015-31703 RIN3235-AL72 File No.S7-26-15 Release No.34-76624 SECURITIES AND EXCHANGE COMMISSION Proposed rule. Comments should be received on or before February 22, 2016. 17 CFR Part 240 SummaryThe Securities and Exchange Commission (“SEC” or “Commission”) is publishing for comment a proposed amendment to specify the form and manner with which security-based swap data repositories (“SDRs”) will be required to make security-based swap (“SBS”) data available to the Commission under Exchange Act Rule 13n-4(b)(5). The Commission is proposing to require SDRs to make these data available according to schemas that will be published on the Commission&apos;s Web site and that will reference the international industry standards Financial products Markup Language (“FpML”) and Financial Information eXchange Markup Language (“FIXML”).
80 FR 80058 - Disclosure of Payments by Resource Extraction Issuers
typeregulations.gov FR Doc.2015-31702 RIN3235-AL53 File No.S7-25-15 Release No.34-76620 SECURITIES AND EXCHANGE COMMISSION Proposed rule. We are providing two comment periods for this proposal. Initial comments are due on January 25, 2016. Reply comments, which may respond only to issues raised in the initial comment period, are due on February 16, 2016. In developing the final rules, the Commission may rely on both new comments and comments that have been received to date, including those that were provided in connection with the prior rules that the Commission issued under Section 13(q). 17 CFR Parts 240 and 249b SummaryWe are proposing Rule 13q-1 and an amendment to Form SD to implement Section 1504 of the Dodd-Frank Wall Street Reform and Consumer Protection Act relating to disclosure of payments by resource extraction issuers. Rule 13q-1 was initially adopted by the Commission on August 22, 2012, but it was subsequently vacated by the U.S. District Court for the District of Columbia. Section 1504 of the Dodd-Frank Act added Section 13(q) to the Securities Exchange Act of 1934, which directs the Commission to issue rules requiring resource extraction issuers to include in an annual report information relating to any payment made by the issuer, a subsidiary of the issuer, or an entity under the control of the issuer, to a foreign government or the Federal Government for the purpose of the commercial development of oil, natural gas, or minerals. Section 13(q) requires a resource extraction issuer to provide information about the type and total amount of such payments made for each project related to the commercial development of oil, natural gas, or minerals, and the type and total amount of payments made to each government. In addition, Section 13(q) requires a resource extraction issuer to provide information about those payments in an interactive data format.