Regulating the Robots
The current SEC proposal is seen as overreaching, but industry watchers see benefits if changes are made.
Regulation
PBGC Responds to House Republicans’ Subpoena on Central States’ Overpayment
According to the PBGC, the DOJ is working with Central States to secure the repayment.
Mississippi Seeks to Fine BlackRock Over ESG Funds
The state’s order claims that the asset manager misled investors in marketing non-ESG index funds.
New Bill Would Ban Chinese Stocks in Index Funds
The measure is part of a package that would both tax Chinese dividends at higher rates and require more disclosure for securities with exposure to China.
After Receiving Extra $127M, Central States Working on Repayment Plan
In addition to that update at a subcommittee hearing, House Republicans suggested the PBGC cut premiums for its single-employer program.
House Republicans Propose 13 Bills to Reform SEC
The legislation would require more economic analysis and longer comment periods.
Private Funds Trade Groups Challenge New SEC Dealer Rule
The rule, finalized in February, would require private funds trading large blocks of government securities to register as dealers.
SEC Climate Rule Put on Hold
The U.S. 5th Circuit Court of Appeals delayed implementation of the rule, pending further review.
Central States Legally Required to Repay $127M to PBGC
The multiemployer plan received an overpayment due to an incomplete death audit conducted by the PBGC.
Proposed Massachusetts Endowment Tax to Hit Harvard, MIT, 11 Other Schools
The 2.5% excise tax would target private institutions in the state with endowments of at least $1 billion.
Carried Interest, Stock Buybacks, Other Tax Increases Included in Biden Budget Proposal
The other tax increases would include higher minimum taxes on billionaires and corporations.
SEC Finalizes Amendments to Require Greater Execution Quality Disclosure
Updates to the rule on trade execution received a rare 5-0 vote.
SEC Finalizes Climate Disclosure Rule, Omitting Scope 3
The rule has a staggered compliance calendar for different issuers.
SEC Electronic Disclosure Bill Proposed in Senate, Vote Coming Soon in House
The legislation requires issuers to default investors into electronic delivery of disclosures currently sent in the mail, albeit after sending two annual opt-out notices.
Natasha Vij Greiner to Replace William Birdthistle at SEC
A veteran of more than 20 years at the SEC, Greiner takes over investment management after Birdthistle spent more than two years leading the division.