[Federal Register Volume 85, Number 166 (Wednesday, August 26, 2020)]
[Proposed Rules]
[Pages 52861-52870]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-16750]
[[Page 52861]]
Vol. 85
Wednesday,
No. 166
August 26, 2020
Part XXIX
Securities and Exchange Commission
-----------------------------------------------------------------------
Semiannual Regulatory Agenda
Federal Register / Vol. 85, No. 166 / Wednesday, August 26, 2020 /
UA: Reg Flex Agenda
[[Page 52862]]
-----------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION
17 CFR Ch. II
[Release Nos. 33-10769, 34-88531, IA-5470, IC-33833, File No. S7-06-20]
Regulatory Flexibility Agenda
AGENCY: Securities and Exchange Commission.
ACTION: Semiannual regulatory agenda.
-----------------------------------------------------------------------
SUMMARY: The Securities and Exchange Commission is publishing the
Chairman's agenda of rulemaking actions pursuant to the Regulatory
Flexibility Act (RFA) (Pub. L. 96-354, 94 Stat. 1164) (Sep. 19, 1980).
The items listed in the Regulatory Flexibility Agenda for Spring 2020
reflect only the priorities of the Chairman of the U.S. Securities and
Exchange Commission, and do not necessarily reflect the view and
priorities of any individual Commissioner.
Information in the agenda was accurate on March 31, 2020, the date
on which the Commission's staff completed compilation of the data. To
the extent possible, rulemaking actions by the Commission since that
date have been reflected in the agenda. The Commission invites
questions and public comment on the agenda and on the individual agenda
entries.
The Commission is now printing in the Federal Register, along with
our preamble, only those agenda entries for which we have indicated
that preparation of an RFA analysis is required.
The Commission's complete RFA agenda will be available online at
www.reginfo.gov.
DATES: Comments should be received on or before September 25, 2020.
ADDRESSES: Comments may be submitted by any of the following methods:
Electronic Comments
Use the Commission's internet comment form (http://www.sec.gov/rules/other.shtml); or
Send an email to rule-comments@sec.gov. Please include
File Number S7-06-20 on the subject line.
Paper Comments
Send paper comments to Vanessa A. Countryman, Secretary,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549-1090.
All submissions should refer to File No. S7-06-20. This file number
should be included on the subject line if email is used. To help us
process and review your comments more efficiently, please use only one
method. The Commission will post all comments on the Commission's
internet website (http://www.sec.gov/rules/other.shtml). Comments are
also available for website viewing and printing in the Commission's
Public Reference Room, 100 F Street NE, Washington, DC 20549, on
official business days between the hours of 10:00 a.m. and 3:00 p.m.
All comments received will be posted without change. Persons submitting
comments are cautioned that we do not redact or edit personal
identifying information from submissions. You should submit only
information that you wish to make available publicly.
FOR FURTHER INFORMATION CONTACT: William Miller, Office of the General
Counsel, 202-551-8372.
SUPPLEMENTARY INFORMATION: The RFA requires each Federal agency, twice
each year, to publish in the Federal Register an agenda identifying
rules that the agency expects to consider in the next 12 months that
are likely to have a significant economic impact on a substantial
number of small entities (5 U.S.C. 602(a)). The RFA specifically
provides that publication of the agenda does not preclude an agency
from considering or acting on any matter not included in the agenda and
that an agency is not required to consider or act on any matter that is
included in the agenda (5 U.S.C. 602(d)). The Commission may consider
or act on any matter earlier or later than the estimated date provided
on the agenda. While the agenda reflects the current intent to complete
a number of rulemakings in the next year, the precise dates for each
rulemaking at this point are uncertain. Actions that do not have an
estimated date are placed in the long-term category; the Commission may
nevertheless act on items in that category within the next 12 months.
The agenda includes new entries, entries carried over from prior
publications, and rulemaking actions that have been completed (or
withdrawn) since publication of the last agenda.
The following abbreviations for the acts administered by the
Commission are used in the agenda:
``Securities Act''--Securities Act of 1933
``Exchange Act''--Securities Exchange Act of 1934
``Investment Company Act''--Investment Company Act of 1940
``Investment Advisers Act''--Investment Advisers Act of 1940
``Dodd Frank Act''--Dodd-Frank Wall Street Reform and Consumer
Protection Act
The Commission invites public comment on the agenda and on the
individual agenda entries.
By the Commission.
Dated: April 1, 2020.
Vanessa A. Countryman,
Secretary.
Division of Corporation Finance--Proposed Rule Stage
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
356....................... Listing Standards for 3235-AK99
Recovery of Erroneously
Awarded Compensation.
357....................... Mandated Electronic 3235-AM15
Filings.
358....................... Amendments to Rule 701/ 3235-AM38
Form S-8.
------------------------------------------------------------------------
Division of Corporation Finance--Final Rule Stage
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
359....................... Amendments to Financial 3235-AL77
Disclosures About
Acquired Businesses.
360....................... Universal Proxy........... 3235-AL84
361....................... Filing Fee Disclosure and 3235-AL96
Payment Methods
Modernization.
362....................... Amending the ``Accredited 3235-AM19
Investor'' Definition.
363....................... Harmonization of Exempt 3235-AM27
Offerings.
364....................... Procedural Requirements 3235-AM49
and Resubmission
Thresholds Under Exchange
Act Rule 14a-8.
[[Page 52863]]
365....................... Amendments to Exemptions 3235-AM50
From the Proxy Rules for
Proxy Voting Advice.
------------------------------------------------------------------------
Division of Corporation Finance--Long-Term Actions
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
366....................... Pay Versus Performance.... 3235-AL00
367....................... Corporate Board Diversity. 3235-AL91
------------------------------------------------------------------------
Division of Corporation Finance--Completed Actions
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
368....................... Amendments to the 3235-AM12
Financial Disclosures for
Registered Debt Security
Offerings.
369....................... Regulation Crowdfunding 3235-AM20
Amendments.
370....................... Regulation A Amendments... 3235-AM21
371....................... Solicitations of Interest 3235-AM23
Prior to a Registered
Public Offering.
372....................... Accelerated Filer 3235-AM41
Definition.
------------------------------------------------------------------------
Division of Investment Management--Proposed Rule Stage
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
373....................... Investment Company Summary 3235-AM52
Shareholder Report and
Modernization of Certain
Investment Company
Disclosure.
374....................... Amendments to Form 13F 3235-AM65
Filer Threshold.
375....................... Amendments to the Family 3235-AM67
Office Rule.
376....................... Amendments to Rule 17a-7 3235-AM69
Under the Investment
Company Act.
377....................... Investment Company Fair 3235-AM71
Value.
------------------------------------------------------------------------
Division of Investment Management--Final Rule Stage
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
378....................... Use of Derivatives by 3235-AL60
Registered Investment
Companies and Business
Development Companies.
379....................... Investment Adviser 3235-AM08
Advertisements;
Compensation for
Solicitations.
380....................... Fund of Funds Arrangements 3235-AM29
381....................... Amendments to Procedures 3235-AM51
for Applications under
the Investment Company
Act.
------------------------------------------------------------------------
Division of Investment Management--Long-Term Actions
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
382....................... Reporting of Proxy Votes 3235-AK67
on Executive Compensation
and Other Matters.
383....................... Amendments to the Custody 3235-AM66
Rules for Investment
Companies.
384....................... Amendments to Improve Fund 3235-AM73
Proxy System.
------------------------------------------------------------------------
Division of Investment Management--Completed Actions
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
385....................... Offering Reform for 3235-AM31
Business Development
Companies Under the Small
Business Credit
Availability Act and
Closed-End Funds Under
the Economic Growth,
Regulatory Relief, and
Consumer Protection Act.
------------------------------------------------------------------------
[[Page 52864]]
Division of Trading and Markets--Long-Term Actions
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
386....................... Removal of Certain 3235-AL14
References to Credit
Ratings Under the
Securities Exchange Act
of 1934.
------------------------------------------------------------------------
Offices and Other Programs--Final Rule Stage
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
387....................... Amendments to Certain 3235-AM63
Provisions of the Auditor
Independence Rules.
------------------------------------------------------------------------
SECURITIES AND EXCHANGE COMMISSION (SEC)
Division of Corporation Finance
Proposed Rule Stage
356. Listing Standards for Recovery of Erroneously Awarded Compensation
E.O. 13771 Designation: Independent agency.
Legal Authority: Pub. L. 111-203, sec. 954; 15 U.S.C. 78j-4
Abstract: The Commission proposed rules to implement section 954 of
the Dodd Frank Act, which requires the Commission to adopt rules to
direct national securities exchanges to prohibit the listing of
securities of issuers that have not developed and implemented a policy
providing for disclosure of the issuer's policy on incentive-based
compensation and mandating the clawback of such compensation in certain
circumstances.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 07/14/15 80 FR 41144
NPRM Comment Period End............. 09/14/15
Second NPRM......................... 10/00/20
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Anne M. Krauskopf, Division of Corporation Finance,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549, Phone: 202 551-3500, Email: krauskopfa@sec.gov.
RIN: 3235-AK99
357. Mandated Electronic Filings
E.O. 13771 Designation: Independent agency.
Legal Authority: 15 U.S.C. 77d; 15 U.S.C. 77f; 15 U.S.C. 77g; 15
U.S.C. 77h; 15 U.S.C. 77j; 15 U.S.C. 77s(a); 15 U.S.C. 78c; 15 U.S.C.
78l; 15 U.S.C. 78m; 15 U.S.C. 78n; 15 U.S.C. 78o(d); 15 U.S.C. 78p; 15
U.S.C. 78w(a); 15 U.S.C. 78ll
Abstract: The Division is considering recommending that the
Commission propose amendments to Regulation S-T that would update the
mandated electronic submissions requirements to include additional
filings.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 10/00/20
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Sean Harrison, Division of Corporation Finance,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549, Phone: 202 551-3430, Email: harrisons@sec.gov.
RIN: 3235-AM15
358. Amendments to Rule 701/Form S-8
E.O. 13771 Designation: Independent agency.
Legal Authority: 15 U.S.C. 77bb
Abstract: The Division is considering recommending that the
Commission propose rule amendments to Securities Act Rule 701, the
exemption from registration for securities issued by non-reporting
companies pursuant to compensatory arrangements, and Form S-8, the
registration statement for compensatory offerings by reporting
companies.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
ANPRM............................... 07/24/18 83 FR 34958
ANPRM Comment Period End............ 09/24/18 .......................
NPRM................................ 10/00/20 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Anne M. Krauskopf, Division of Corporation Finance,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549, Phone: 202 551-3500, Email: krauskopfa@sec.gov.
RIN: 3235-AM38
SECURITIES AND EXCHANGE COMMISSION (SEC)
Division of Corporation Finance
Final Rule Stage
359. Amendments to Financial Disclosures About Acquired Businesses
E.O. 13771 Designation: Independent agency.
Legal Authority: 15 U.S.C. 77g; 15 U.S.C. 77j; 15 U.S.C. 77s(a); 15
U.S.C. 77z-3; 15 U.S.C. 78c(b); 15 U.S.C. 78l; 15 U.S.C. 78m; 15 U.S.C.
78o(d); 15 U.S.C. 78w(a); 15 U.S.C. 778mm; 15 U.S.C. 77c; 15 U.S.C.
77f; 15 U.S.C. 80a-6(c); 15 U.S.C. 80a-8; 15 U.S.C. 80a-24(a); 15
U.S.C. 80a-29; 15 U.S.C. 80a-37
Abstract: The Division is considering recommending that the
Commission adopt amendments to Regulation S-X (Rule 3-05) that affect
the disclosure of financial information of acquired businesses. When a
registrant acquires a business other than a real estate operation, Rule
305 generally requires a registrant to provide separate audited annual
and unaudited interim pre-acquisition financial statements of the
business if it is significant to the registrant.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
ANPRM............................... 10/01/15 80 FR 59083
ANPRM Comment Period End............ 11/30/15 .......................
NPRM................................ 05/28/19 84 FR 24600
NPRM Comment Period End............. 07/29/19 .......................
Final Action........................ 10/00/20 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Todd Hardiman, Division of Corporation Finance,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549, Phone: 202 551-3516, Email: hardimant@sec.gov.
Patrick Gilmore, Deputy Chief Accountant, Division of Corporation
Finance, Securities and Exchange
[[Page 52865]]
Commission, 100 F Street NE, Washington, DC 20549, Phone: 202 551-3406,
Email: gilmorep@sec.gov.
RIN: 3235-AL77
360. Universal Proxy
E.O. 13771 Designation: Independent agency.
Legal Authority: 15 U.S.C. 78n; 15 U.S.C. 78w(a)
Abstract: The Division is considering recommending that the
Commission adopt amendments to the proxy rules to allow a shareholder
voting by proxy to choose among duly-nominated candidates in a
contested election of directors.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 11/10/16 81 FR 79122
NPRM Comment Period End............. 01/09/17 .......................
Final Action........................ 10/00/20 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Ted Yu, Division of Corporation Finance, Securities
and Exchange Commission, 100 F Street NE, Washington, DC 20549, Phone:
202 551-3500, Email: yut@sec.gov.
RIN: 3235-AL84
361. Filing Fee Disclosure and Payment Methods Modernization
E.O. 13771 Designation: Independent agency.
Legal Authority: 15 U.S.C. 77g; 15 U.S.C. 77j; 15 U.S.C. 77s(a); 15
U.S.C. 78c; 15 U.S.C. 78l; 15 U.S.C. 78m; 15 U.S.C. 78o(d); 15 U.S.C.
78s(a); 15 U.S.C. 78ll; 15 U.S.C. 80a-8; 15 U.S.C. 80a-24; 15 U.S.C.
80a-29; 15 U.S.C. 80a-37
Abstract: The Division is considering recommending that the
Commission adopt rule amendments to modernize filing fee disclosure and
payment methods.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 12/27/19 84 FR 71580
NPRM Comment Period End............. 02/25/20 .......................
Final Action........................ 10/00/20 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Mark W. Green, Division of Corporation Finance,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549-0301, Phone: 202 551-3430, Email: greenm@sec.gov.
RIN: 3235-AL96
362. Amending the ``Accredited Investor'' Definition
E.O. 13771 Designation: Independent agency.
Legal Authority: 15 U.S.C. 77a et seq.
Abstract: The Division is considering recommending that the
Commission adopt amendments to expand the definition of accredited
investor under Regulation D of the Securities Act of 1933.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 01/15/20 85 FR 2574
NPRM Comment Period End............. 03/16/20 .......................
Final Action........................ 10/00/20 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Jennifer Zepralka, Division of Corporation Finance,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549, Phone: 202-551-3480, Email: zepralkaj@sec.gov.
RIN: 3235-AM19
363. Harmonization of Exempt Offerings
E.O. 13771 Designation: Independent agency.
Legal Authority: 15 U.S.C. 77a et seq.
Abstract: The Commission proposed rule amendments to harmonize and
streamline the Commission's rules for exempt offerings under the
Securities Act of 1933, including Regulation A, Regulation D, and
Regulation Crowdfunding, in order to enhance their clarity and ease of
use.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
ANPRM............................... 06/26/19 84 FR 30460
ANPRM Comment Period End............ 09/24/19
NPRM................................ 03/31/20 85 FR 17956
NPRM Comment Period End............. 06/01/20
Final Action........................ 10/00/20
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Jennifer Zepralka, Division of Corporation Finance,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549, Phone: 202 551-3430, Email: zepralkaj@sec.gov.
RIN: 3235-AM27
364. Procedural Requirements and Resubmission Thresholds Under Exchange
Act Rule 14A-8
E.O. 13771 Designation: Independent agency.
Legal Authority: 15 U.S.C. 78a et seq.
Abstract: The Division is considering recommending that the
Commission adopt rule amendments regarding the thresholds for
shareholder proposals under Rule 14a-8.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 12/04/19 84 FR 66458
NPRM Comment Period End............. 02/03/20
Final Action........................ 10/00/20
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Dan Greenspan, Division of Corporation Finance,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549, Phone: 202 551-3623, Email: greenspand@sec.gov.
RIN: 3235-AM49
365. Amendments to Exemptions From the Proxy Rules for Proxy Voting
Advice
E.O. 13771 Designation: Independent agency.
Legal Authority: 15 U.S.C. 78a et seq.
Abstract: The Division is considering recommending that the
Commission adopt rule amendments to address certain advisors' reliance
on the proxy solicitation exemptions in Rule 14a-2(b).
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 12/04/19 84 FR 66518
NPRM Comment Period End............. 02/03/20
Final Action........................ 10/00/20
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Dan Greenspan, Division of Corporation Finance,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549, Phone: 202 551-3623, Email: greenspand@sec.gov.
RIN: 3235-AM50
SECURITIES AND EXCHANGE COMMISSION (SEC)
Division of Corporation Finance
Long-Term Actions
366. Pay Versus Performance
E.O. 13771 Designation: Independent agency.
Legal Authority: Pub. L. 111-203, sec. 953(a); 15 U.S.C. 78c(b); 15
U.S.C. 78n; 15 U.S.C. 78w(a); 15 U.S.C. 78mm
Abstract: The Commission proposed rules to implement section 953(a)
of the
[[Page 52866]]
Dodd-Frank Act, which added section 14(i) to the Exchange Act to
require issuers to disclose information that shows the relationship
between executive compensation actually paid and the financial
performance of the issuer.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 05/07/15 80 FR 26329
NPRM Comment Period End............. 07/06/15
Next Action Undetermined............
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Steven G. Hearne, Division of Corporation Finance,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549, Phone: 202 551-3430, Email: hearnes@sec.gov.
RIN: 3235-AL00
367. Corporate Board Diversity
E.O. 13771 Designation: Independent agency.
Legal Authority: 15 U.S.C. 77c(b); 15 U.S.C. 77f; 15 U.S.C. 77g; 15
U.S.C. 78l; 15 U.S.C. 78m
Abstract: The Division is considering recommending that the
Commission propose amendments to the proxy rules to require additional
disclosure about the diversity of board members and nominees.
Timetable: Next Action Undetermined.
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Felicia H. Kung, Division of Corporation Finance,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549, Phone: 202 551-3430, Email: kungf@sec.gov.
RIN: 3235-AL91
SECURITIES AND EXCHANGE COMMISSION (SEC)
Division of Corporation Finance
Completed Actions
368. Amendments to the Financial Disclosures for Registered Debt
Security Offerings
E.O. 13771 Designation: Independent agency.
Legal Authority: 15 U.S.C. 77c; 15 U.S.C. 77f; 15 U.S.C. 77g; 15
U.S.C. 77j; 15 U.S.C. 77h; 15 U.S.C. 77s(a); 15 U.S.C. 77z-3; 15 U.S.C.
78c(b); 15 U.S.C. 78l; 15 U.S.C. 78m; 15 U.S.C. 78o(d); 15 U.S.C.
78w(a); 15 U.S.C. 78mm
Abstract: The Commission adopted amendments to the financial
disclosure requirements for guarantors and issuers of guaranteed
securities registered or being registered, and issuers' affiliates
whose securities collateralize securities registered or being
registered in Regulation S-X to improve those requirements for both
investors and registrants.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 10/02/18 83 FR 49630
NPRM Comment Period End............. 12/03/18
Final Action........................ 04/20/20 85 FR 21940
Final Action Effective.............. 01/04/21
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Sean Harrison, Division of Corporation Finance,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549, Phone: 202 551-3430, Email: harrisons@sec.gov.
RIN: 3235-AM12
369. Regulation Crowdfunding Amendments
E.O. 13771 Designation: Independent agency.
Legal Authority: 15 U.S.C. 77a et seq.; 15 U.S.C. 78a et seq.; Pub.
L. 112-106; Pub. L. 301-305
Abstract: Staff completed, consistent with Release No. 33-9974
(Oct. 30, 2015) 80 FR 71387 (Nov. 16, 2015), a study and submitted a
report to the Commission on the impact of Regulation Crowdfunding on
capital formation and investor protection. https://www.sec.gov/files/regulation-crowdfunding-2019_0.pdf. In a separate rulemaking (https://www.sec.gov/rules/proposed/2020/33-10763.pdf), the Commission proposed
amendments to Regulation Crowdfunding to address issues identified in
the staff's report, such as the relatively modest aggregate Regulation
Crowdfunding financing levels compared to the Regulation D market. This
item is being withdrawn.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
Withdrawn (Consolidated With 3235- 03/31/20
AM27).
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Jennifer Zepralka, Division of Corporation Finance,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549, Phone: 202 551-3430, Email: zepralkaj@sec.gov.
RIN: 3235-AM20
370. Regulation A Amendments
E.O. 13771 Designation: Independent agency.
Legal Authority: 15 U.S.C. 77c(b); 15 U.S.C. 77s; 15 U.S.C. 77z-3;
15 U.S.C. 78l; 15 U.S.C. 77o; 15 U.S.C. 77o; 15 U.S.C. 77mm
Abstract: Staff completed, consistent with Release No. 33-9741
(Mar. 25, 2015) 80 FR 21805 (Apr. 20, 2015), a study and submitted a
report to the Commission on the impact of Regulation A offerings on
capital formation and investor protection. https://www.sec.gov/smallbusiness/exemptofferings/rega/2020Report. In a separate rulemaking
(https://www.sec.gov/rules/proposed/2020/33-10763.pdf), the Commission
proposed amendments to Regulation A to address issues identified in the
reviews of the regulation, such as the relatively modest aggregate
Regulation A financing levels compared to traditional IPOs and the
Regulation D market. This item is being withdrawn.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
Withdrawn (Consolidated With 3235- 03/31/20
AM27).
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Jennifer Zepralka, Division of Corporation Finance,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549, Phone: 202 551-3430, Email: zepralkaj@sec.gov.
RIN: 3235-AM21
371. Solicitations of Interest Prior to a Registered Public Offering
E.O. 13771 Designation: Independent agency.
Legal Authority: 15 U.S.C. 77g; 15 U.S.C. 77j; 15 U.S.C. 77s; 15
U.S.C. 77z-3; 15 U.S.C. 80a-6; 15 U.S.C. 80a-24; 15 U.S.C. 80a-37
Abstract: The Commission adopted amendments to extend the testing
of the waters provision to non-emerging growth companies.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 02/28/19 84 FR 6713
NPRM Comment Period End............. 04/29/19
Final Action........................ 10/04/19 84 FR 53011
Final Action Effective.............. 12/03/19
------------------------------------------------------------------------
[[Page 52867]]
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Maryse Mills-Apenteng, Special Counsel, Office of
Information Technologies and Services, Securities and Exchange
Commission, Division of Corporation Finance, 100 F Street NE,
Washington, DC 20549, Phone: 202 551-3457, Email: mills-apentengm@sec.gov.
RIN: 3235-AM23
372. Accelerated Filer Definition
E.O. 13771 Designation: Independent agency.
Legal Authority: 7 U.S.C. 2(c)(2)(E); 7 U.S.C. 5221(e)(3); 12
U.S.C. 5461 et seq.; 15 U.S.C. 77b; 15 U.S.C. 77b note; 15 U.S.C. 77c;
15 U.S.C. 77d; 15 U.S.C. 77e; 15 U.S.C. 77f; 15 U.S.C. 77g; 15 U.S.C.
77h; 15 U.S.C. 77j; 15 U.S.C. 77k; 15 U.S.C. 77r; 15 U.S.C. 77s; 15
U.S.C. 77z-2; 15 U.S.C. 77z-3; 15 U.S.C. 77aa(25); 15 U.S.C. 77aa(26);
15 U.S.C. 77ddd; 15 U.S.C. 77eee; 15 U.S.C. 77ggg; 15 U.S.C. 77hhh; 15
U.S.C. 77iii; 15 U.S.C. 77jjj; 15 U.S.C. 77nnn; 15 U.S.C. 77sss; 15
U.S.C. 77ttt; 15 U.S.C. 78a et seq.; 15 U.S.C. 78c; 15 U.S.C. 78c-3; 15
U.S.C. 78c-5; 15 U.S.C. 78d; 15 U.S.C. 78e; 15 U.S.C. 78f; 15 U.S.C.
78g; 15 U.S.C. 78i; 15 U.S.C. 78j; 15 U.S.C. 78j-1; 15 U.S.C. 78j-3; 15
U.S.C. 78k
Abstract: The Commission adopted changes to the ``accelerated
filer'' definition in Exchange Act Rule 12b-2 that have the effect of
reducing the number of registrants that are subject to the Sarbanes-
Oxley Act section 404(b) auditor attestation requirement.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 05/29/19 84 FR 24876
NPRM Comment Period End............. 07/29/19
Final Action........................ 03/26/20 85 FR 17178
Final Action Effective.............. 04/27/20
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: John Fieldsend, Division of Corporation Finance,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549, Phone: 202 551-3430, Email: fieldsendj@sec.gov.
RIN: 3235-AM41
SECURITIES AND EXCHANGE COMMISSION (SEC)
Division of Investment Management
Proposed Rule Stage
373. Investment Company Summary Shareholder Report and Modernization of
Certain Investment Company Disclosure
E.O. 13771 Designation: Independent agency.
Legal Authority: 15 U.S.C. 77e; 15 U.S.C. 77g; 15 U.S.C. 77j; 15
U.S.C.77s; 15 U.S.C. 78c(b); 15 U.S.C. 77f; 15 U.S.C. 78j; 15 U.S.C.
78m; 15 U.S.C. 78n; 15 U.S.C. 78o; 15 U.S.C. 78mm; 15 U.S.C. 80 a-6; 15
U.S.C.80a-8; 15 U.S.C. 80a-20; 15 U.S.C. 80a-24; 15 U.S.C. 80a-29; 15
U.S.C. 80a-37; 44 U.S.C. 3506; 44 U.S.C. 3507
Abstract: The Division is considering recommending that the
Commission propose a new streamlined shareholder report under the
Investment Company Act of 1940. The Division is also considering
recommending that the Commission propose rule and form amendments to
improve and modernize certain aspects of the current disclosure
framework under the Investment Company Act.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 10/00/20 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Michael Kosoff, Division of Investment Management,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549, Phone: 202 551-6754, Email: kosoffm@sec.gov.
RIN: 3235-AM52
374. Amendments to Form 13F Filer Threshold
E.O. 13771 Designation: Independent agency.
Legal Authority: 15 U.S.C. 78c(b); 15 U.S.C. 78m(f); 15 U.S.C. 78w;
15 U.S.C. 78x; 15 U.S.C. 78mm
Abstract: The Division is considering recommending that the
Commission propose rule and related form amendments regarding the
thresholds for Form 13F filers. Form 13F is the reporting form filed by
institutional investment managers pursuant to section 13(f) of the
Securities Exchange Act of 1934. Institutional investment managers that
exercise investment discretion over $100 million or more in section
13(f) securities must file Form 13F.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 10/00/20 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Mark Uyeda, Senior Special Counsel, Division of
Investment Management, Securities and Exchange Commission, 100 F Street
NE, Washington, DC 20549, Phone: 202 551-6775, Email: uyedam@sec.gov.
RIN: 3235-AM65
375. Amendments to the Family Office Rule
E.O. 13771 Designation: Independent agency.
Legal Authority: 15 U.S.C. 80b-2(a)(11)(G); 15 U.S.C. 80b-6a
Abstract: The Division is considering recommending that the
Commission propose targeted amendments to the family office rule under
section 202(a)(11) of the Investment Advisers Act of 1940. Family
offices, as so defined in the Act, are excluded from the Act's
definition of investment adviser, and are thus not subject to any of
the provisions of the Act.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 10/00/20 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Thoreau Adrian Bartmann, Division of Investment
Management, Securities and Exchange Commission, 100 F Street NE,
Washington, DC 20549, Phone: 202 551-6745, Email: bartmannt@sec.gov.
RIN: 3235-AM67
376. Amendments to Rule 17a-7 Under the Investment Company Act
E.O. 13771 Designation: Independent agency.
Legal Authority: 15 U.S.C. 80a-6(c); 15 U.S.C. 80a-10(f); 15 U.S.C.
80a-17(d); 15 U.S.C. 80a-37(a)
Abstract: The Division is considering recommending that the
Commission propose amendments to rule 17a-7 under the Investment
Company Act of 1940 concerning the exemption of certain purchase or
sale transactions between an investment company and certain affiliated
persons.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 04/00/21 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Jacob Krawitz, Branch Chief, Division of Investment
[[Page 52868]]
Management, Securities and Exchange Commission, 100 F Street NE,
Washington, DC 20549, Phone: 202 551-4673, Email: krawitzk@sec.gov.
RIN: 3235-AM69
377. Investment Company Fair Value
E.O. 13771 Designation: Independent agency.
Legal Authority: 15 U.S.C. 80a-2(a); 15 U.S.C. 80a-6(c); 15 U.S.C.
80a-37(a)
Abstract: The Commission proposed a rule regarding the valuation
practices and the role of the board of directors with respect to the
fair value of the investments of a registered investment company or
business development company.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 05/13/20 85 FR 28734
NPRM Comment Period End............. 07/21/20 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Thoreau Adrian Bartmann, Division of Investment
Management, Securities and Exchange Commission, 100 F Street NE,
Washington, DC 20549, Phone: 202 551-6745, Email: bartmannt@sec.gov.
RIN: 3235-AM71
SECURITIES AND EXCHANGE COMMISSION (SEC)
Division of Investment Management
Final Rule Stage
378. Use of Derivatives by Registered Investment Companies and Business
Development Companies
E.O. 13771 Designation: Independent agency.
Legal Authority: 15 U.S.C. 80a-6(c); 15 U.S.C. 80a-60; 15 U.S.C.
80a-12(a); 15 U.S.C. 80a-37; 15 U.S.C. 80a-8; 15 U.S.C. 80a-22(c); 15
U.S.C. 80a-18; 15 U.S.C. 78c; 15 U.S.C. 78c-5; 15 U.S.C. 78j; 15 U.S.C.
78o; 15 U.S.C. 78m; 15 U.S.C. 78o-10; 15 U.S.C. 78q; 15 U.S.C. 78w; 15
U.S.C. 78mm; 15 U.S.C. 80b-6; 15 U.S.C. 80b-6a; 15 U.S.C. 80b-8; 15
U.S.C. 80b-aa; 15 U.S.C. 77f; 15 U.S.C. 77g; 15 U.S.C. 77j; 15 U.S.C.
77s; 15 U.S.C. 78ll
Abstract: The Division is considering recommending that the
Commission adopt a new rule designed to enhance the regulation of the
use of derivatives by registered investment companies, including mutual
funds, exchange-traded funds, closed-end funds, and business
development companies.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 12/28/15 80 FR 80884
NPRM Comment Period End............. 03/28/16 .......................
Second NPRM......................... 01/24/20 85 FR 4446
Second NPRM Comment Period End...... 03/04/20 .......................
Final Action........................ 10/00/20 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Brian Johnson, Division of Investment Management,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549, Phone: 202 551-6740, Email: johnsonbm@sec.gov.
RIN: 3235-AL60
379. Investment Adviser Advertisements; Compensation for Solicitations
E.O. 13771 Designation: Independent agency.
Legal Authority: 15 U.S.C. 80b-b(4); 15 U.S.C. 80b-11a; 15 U.S.C.
80b-(4)
Abstract: The Division is considering recommending that the
Commission adopt amendments to rules 206(4)-1 and 206(4)-3 under the
Investment Advisers Act of 1940 regarding marketing communications and
practices by investment advisers.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 12/10/19 84 FR 67518
NPRM Comment Period End............. 02/10/20 .......................
Final Action........................ 10/00/20 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Melissa Harke, Division of Investment Management,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549, Phone: 202 551-6722, Email: harkem@sec.gov.
RIN: 3235-AM08
380. Fund of Funds Arrangements
E.O. 13771 Designation: Independent agency.
Legal Authority: 15 U.S.C. 80a-8(b); 15 U.S.C. 80a-6(c); 15 U.S.C.
80a-12(d)(1)(G); 15 U.S.C. 80a-12(d)(1)(J); 15 U.S.C. 80a-17(b); 15
U.S.C. 80a-29(a); 15 U.S.C. 80a-37(a)
Abstract: The Division is considering recommending that the
Commission adopt new rules and rule amendments to allow funds to
acquire shares of other funds (i.e., ``fund of funds'' arrangements),
including arrangements involving exchange-traded funds, without first
obtaining exemptive orders from the Commission.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 02/01/19 84 FR 1286
NPRM Comment Period End............. 05/02/19 .......................
Final Action........................ 10/00/20 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Melissa Gainor, Division of Investment Management,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549, Phone: 202 551-6805, Email: gainorm@sec.gov.
RIN: 3235-AM29
381. Amendments to Procedures for Applications Under the Investment
Company Act
E.O. 13771 Designation: Independent agency.
Legal Authority: 15 U.S.C. 80a-6(c); 15 U.S.C. 80a-37(a)
Abstract: The Division is considering recommending that the
Commission adopt amendments to rule 0-5 under the Investment Company
Act of 1940 to establish an expedited review procedure for certain
applications.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 10/30/19 84 FR 58075
NPRM Comment Period End............. 11/29/19 .......................
Final Action........................ 10/00/20 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Steven Amchan, Attorney, Division of Investment
Management, Securities and Exchange Commission, 100 F Street NE,
Washington, DC 20549, Phone: 202-551-6826, Email: amchans@sec.gov.
RIN: 3235-AM51
SECURITIES AND EXCHANGE COMMISSION (SEC)
Division of Investment Management
Long-Term Actions
382. Reporting of Proxy Votes on Executive Compensation and Other
Matters
E.O. 13771 Designation: Independent agency.
Legal Authority: 15 U.S.C. 78m; 15 U.S.C. 78w(a); 15 U.S.C. 78mm;
15 U.S.C. 78x; 15 U.S.C. 80a-8; 15 U.S.C. 80a-29; 15 U.S.C. 80a-30; 15
U.S.C. 80a-37; 15 U.S.C. 80a-44; Pub. L. 111-203, sec. 951
[[Page 52869]]
Abstract: The Division is considering recommending that the
Commission repropose rule amendments to implement section 951 of the
Dodd-Frank Act. The Commission previously proposed amendments to rules
and Form N-PX that would require institutional investment managers
subject to section 13(f) of the Exchange Act to report how they voted
on any shareholder vote on executive compensation or golden parachutes
pursuant to sections 14A(a) and (b) of the Exchange Act.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 10/28/10 75 FR 66622
NPRM Comment Period End............. 11/18/10 .......................
Next Action Undetermined............
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Jacob Krawitz, Branch Chief, Division of Investment
Management, Securities and Exchange Commission, 100 F Street NE,
Washington, DC 20549, Phone: 202 551-4673, Email: krawitzk@sec.gov.
RIN: 3235-AK67
383. Amendments to the Custody Rules for Investment Companies
E.O. 13771 Designation: Independent agency.
Legal Authority: 15 U.S.C. 80a-6(c); 15 U.S.C. 80a-17(f); 15 U.S.C.
80a-26; 15 U.S.C. 80a-28; 15 U.S.C. 80a-29; 15 U.S.C. 80a-30; 15 U.S.C.
80a-31; 15 U.S.C. 80a-36; 15 U.S.C. 80a-37; 15 U.S.C. 80a-37(a)
Abstract: The Division is considering recommending that the
Commission propose amendments to rules concerning custody under the
Investment Company Act of 1940.
Timetable: Next Action Undetermined.
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Jacob Krawitz, Branch Chief, Division of Investment
Management, Securities and Exchange Commission, 100 F Street NE,
Washington, DC 20549, Phone: 202 551-4673, Email: krawitzk@sec.gov.
RIN: 3235-AM66
384. Amendments To Improve Fund Proxy System
E.O. 13771 Designation: Independent agency.
Legal Authority: 15 U.S.C. 78m; 15 U.S.C. 78w; 15 U.S.C. 78mm; 15
U.S.C. 80a-2; 15 U.S.C. 80a-6; 15 U.S.C. 80a-20; 15 U.S.C. 80a-30; 15
U.S.C. 80a-37
Abstract: The Division is considering recommending that the
Commission propose rule and form amendments to address the fund proxy
system and the unique challenges that funds as issuers may experience
in seeking shareholder approvals.
Timetable: Next Action Undetermined.
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Amanda Wagner, Branch Chief, Investment Company
Regulation Office, Securities and Exchange Commission, Division of
Investment Management, 100 F Street NE, Washington, DC 20549, Phone:
202 551-6762, Email: wagnera@sec.gov.
RIN: 3235-AM73
SECURITIES AND EXCHANGE COMMISSION (SEC)
Division of Investment Management
Completed Actions
385. Offering Reform for Business Development Companies Under the Small
Business Credit Availability Act and Closed-End Funds Under the
Economic Growth, Regulatory Relief, and Consumer Protection Act
E.O. 13771 Designation: Independent agency.
Legal Authority: 15 U.S.C. 77f; 15 U.S.C. 77g; 15 U.S.C. 77h; 15
U.S.C. 77j; 15 U.S.C. 77s; 15 U.S.C. 77z-3; 15 U.S.C. 78c; 15 U.S.C.
78d; 15 U.S.C. 78j; 15 U.S.C. 78l; 15 U.S.C. 78m; 15 U.S.C. 78n; 15
U.S.C. 78o; 15 U.S.C. 78q; 15 U.S.C. 78w; 15 U.S.C. 78ll; 15 U.S.C.
78mm; 15 U.S.C. 80a-6; 15 U.S.C. 80a-8; 15 U.S.C. 80a-20; 15 U.S.C.
80a-23; 15 U.S.C. 80a-24; 15 U.S.C. 80a-30; 15 U.S.C. 80a-31; 15 U.S.C.
80a-38; Pub. L. 115-141, title VIII, sec. 803(b); Pub. L. 115-174,
title V, sec. 509(a)
Abstract: The Commission adopted amendments that modify the
registration, communications, and offering processes for business
development companies (BDCs) and other closed-end investment companies
under the Securities Act of 1933; tailor the disclosure and regulatory
framework to these investment companies; expand the ability of certain
registered closed-end funds or BDCs that conduct continuous offerings
to make changes to their registration statements on an immediately
effective basis or on an automatically effective basis a set period of
time after filing; and establish certain structured data reporting
requirements.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 04/10/19 84 FR 14448
NPRM Comment Period End............. 06/10/19 .......................
Final Action........................ 06/01/20 85 FR 33290
Final Action Effective.............. 08/01/20 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Brian Johnson, Division of Investment Management,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549, Phone: 202-551-6740, Email: johnsonbm@sec.gov.
RIN: 3235-AM31
SECURITIES AND EXCHANGE COMMISSION (SEC)
Division of Trading and Markets
Long-Term Actions
386. Removal of Certain References to Credit Ratings Under the
Securities Exchange Act of 1934
E.O. 13771 Designation: Independent agency.
Legal Authority: Pub. L. 111-203, sec. 939A
Abstract: Section 939A of the Dodd-Frank Act requires the
Commission to remove certain references to credit ratings from its
regulations and to substitute such standards of creditworthiness as the
Commission determines to be appropriate. The Commission amended certain
rules and one form under the Exchange Act applicable to broker-dealer
financial responsibility and confirmation of transactions. The
Commission has not yet finalized amendments to certain rules regarding
the distribution of securities.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 05/06/11 76 FR 26550
NPRM Comment Period End............. 07/05/11 .......................
Final Action........................ 01/08/14 79 FR 1522
Final Action Effective.............. 07/07/14 .......................
Next Action Undetermined............
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: John Guidroz, Division of Trading and Markets,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549, Phone: 202-551-6439, Email: guidrozj@sec.gov.
RIN: 3235-AL14
[[Page 52870]]
SECURITIES AND EXCHANGE COMMISSION (SEC)
Offices and Other Programs
Final Rule Stage
387. Amendments to Certain Provisions of the Auditor Independence Rules
E.O. 13771 Designation: Independent agency.
Legal Authority: 15 U.S.C. 77(f); 15 U.S.C. 77(g); 15 U.S.C. 77(h);
15 U.S.C. 77(j); 15 U.S.C. 77(s); 15 U.S.C. 77(z-2); 15 U.S.C. 77(z-3);
15 U.S.C. 77(aa(25)); 15 U.S.C. 77(aa(26)); 15 U.S.C. 77(nn(25)); 15
U.S.C. 77(nn(26)); 15 U.S.C. 78(c); 15 U.S.C. 78(j-1); 15 U.S.C. 78(l);
15 U.S.C. 78(m); 15 U.S.C. 78(n); 15 U.S.C. 78(o(d)); 15 U.S.C. 78(q);
15 U.S.C. 78(u-5); 15 U.S.C. 78(w); 15 U.S.C. 78(ll); 15 U.S.C. 78(mm);
15 U.S.C. 80(a-8); 15 U.S.C. 80(a-20); 15 U.S.C. 80(a-29); 15 U.S.C.
80(a-30); 15 U.S.C. 80(a-31); 15 U.S.C. 80(a-37(a)); 15 U.S.C. 80(b-3);
15 U.S.C. 80(b-11); 15 U.S.C. 7202; 15 U.S.C. 7262; Pub. L. 112-106,
sec. 102(c); 126 Stat. 310 (2012)
Abstract: The Office of the Chief Accountant is considering
recommending that the Commission adopt amendments to update certain
auditor independence rules to facilitate capital formation, in a manner
consistent with investor protection.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 01/15/20 85 FR 2332
NPRM Comment Period End............. 03/16/20 .......................
Final Action........................ 10/00/20 .......................
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Duc Dang, Attorney, Office of Chief Accountant,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549, Phone: 202 551-3386, Email: dangd@sec.gov.
RIN: 3235-AM63
[FR Doc. 2020-16750 Filed 8-25-20; 8:45 am]
BILLING CODE 8011-01-P