Gensler Defends SEC Proposals at House Oversight Hearing
SEC Chairman Gary Gensler spoke about the importance of SEC regulation on climate disclosure, swing pricing and artificial intelligence.
Regulation
Representative Andy Barr Looks to Increase RIA Registration Exemption Amount
Proposed legislation would tie the amount of assets that require an adviser to register with the SEC, currently $150 million, to inflation for the first time.
SEC’s ESG and Climate Task Force Levies First Enforcement Action
Brazilian mining firm Vale SA fined $56 million for fraud that led to fatal 2019 dam collapse.
Recent SEC Proposals to Come Under Scrutiny of Financial Services Committee
The full House Committee on Financial Services has scheduled an oversight hearing for the SEC next week, when climate disclosure will likely be a high priority.
UK Launches Green Finance Strategy
The British government hopes to raise more than £1 billion annually toward reaching net zero by the end of the decade.
Recent Investment Company Act Exemption Could Lay Groundwork for More
SEC defines parameters for one tech company to invest in ‘capital preservation instruments’ without having to register as an investment company.
Cement Workers’, Teamsters’ Pensions Receive Additional PBGC Funding
The PBGC paid out $438 million in additional funding to the NYS Teamsters Conference Plan and smaller amounts to three other plans.
New York Common Commits $1.3B to Sustainable Program
The $242.3 billion state pension fund also committed more than $600 million to alts in February.
DOL Offers First Legal Defense of Its New ESG Rule
The Department of Labor challenged the plaintiffs’ standing and defended the legality of the new ESG rule, but also saw its motion for a venue change dismissed.
Congress, SEC Move Forward With Electronic Disclosure
Congress has proposed allowing electronic disclosure to investors for SEC registrants, and the SEC is looking to require it for disclosures to the SEC itself.
SEC Market Structure Proposals: Last Week for Public Comments
Interested parties have until the end of March to submit comments on the four SEC market structure proposals.
Fed Raises Rates as Expected, Stocks Tumble
Fed Chairman Jerome Powell emphasized that the Fed is monitoring the impact of recent banking events but is still committed to reducing inflation to 2%.
DOL Reopens Comment Period for New QPAM Proposal
A third comment period will remain open until April 6.
SEC Reopens Comment Period on Cybersecurity Rule
If approved, the rule would require certain actors to notify the SEC of a significant cyber event within 48 hours.
SEC Proposes Updates to Cyber and Data Security Rules
One new rule from the SEC would update Reg SCI; the other would update Reg S-P, both to require more timely reporting of data breaches.