Corporate & Financial Weekly Digest

Corporate & Financial Weekly Digest

Tag Archives: Disclosure Requirements

SEC Amends Rules to Increase Order Handling Disclosure

Posted in Broker-Dealer
On November 2, the Securities and Exchange Commission adopted amendments to Rule 606 of Regulation NMS in order to require broker-dealers to provide certain individualized disclosures to customers with respect to the firm’s handling and execution of orders. This disclosure would only be required upon the request of a customer in connection with certain orders… Continue Reading

SEC Issues Smaller Reporting Company Compliance Guide

Posted in SEC/Corporate
On August 10, the staff of the Securities and Exchange Commission published A Small Entity Compliance Guide for Issuers (the Guide), which summarizes and explains rules adopted by the SEC with respect to the recently amended definition of “smaller reporting company” and the accommodations available to smaller reporting companies. The Guide is one of a… Continue Reading

NFA Announces the Effective Date of Disclosure Requirements for NFA Members Engaging in Virtual Currency Activities

Posted in CFTC, Derivatives, Digital Assets and Virtual Currencies
On August 9, the National Futures Association (NFA) announced the effective date of its recently adopted Interpretive Notice, Disclosure Requirements for NFA Members Engaging in Virtual Currency Activities. The Interpretative Notice will go into effect on October 31 (“Effective Date”).… Continue Reading

FINRA Publishes Information Notice Regarding Enhancements to the Disclosure Review Process Relating to Public Financial Records

Posted in Broker-Dealer
On May 18, the Financial Industry Regulatory Authority (FINRA) published an Information Notice regarding enhancements to FINRA’s disclosure review process (Information Notice). The enhancements will allow member firms to rely on FINRA’s verification process to comply with the requirement to conduct public searches related to bankruptcies, judgments and liens. Beginning on July 9, FINRA will… Continue Reading

FCA Publishes Webpage on Review of Closet Trackers

Posted in Financial Markets, UK Developments
On March 14, the UK Financial Conduct Authority (FCA) published a webpage in relation to its review of potential closet tracker funds and closet constrained funds. The review forms part of the FCA’s supervision to protect investors and maintain a competitive market. On its webpage, the FCA explains that both types of funds look like… Continue Reading

NFA Proposes to Amend NFA Compliance Rules 2-36 and 2-43

Posted in CFTC
On December 4, the National Futures Association (NFA) submitted proposed amendments to NFA Compliance Rule 2-36 and Rule 2-43 to the Commodity Futures Trading Commission. The amendment to NFA Compliance Rule 2-36 will require forex dealer members (FDM) to disclose to customers on a per-trade basis: (1) any commissions or other fees charged; (2) for… Continue Reading

SEC Approves PCAOB Rule to Require Enhanced Audit Reports

Posted in SEC/Corporate
On October 23, the Securities and Exchange Commission approved new audit reporting standard, AS 3101, proposed by the Public Company Accounting Oversight Board (PCAOB), which requires auditors to provide new information in public company audit reports, with the goal of making such reports more informative for investors and other financial statement users. The adoption of… Continue Reading

SEC-Proposed Amendments to Modernize, Simplify and Increase the Accessibility of Required Disclosure

Posted in SEC/Corporate
As previously reported in the October 13, 2017 edition of Corporate & Financial Weekly Digest, on October 11, the Securities and Exchange Commission proposed amendments (the Proposal) to modernize and simplify disclosure requirements in Regulation S-K, and related rules and forms. The Proposal is intended to reduce registrants’ burden and costs to comply with the… Continue Reading

FINRA Releases Additional Guidance With Respect To Enhanced Disclosure Requirements for Corporate and Agency Debt Securities Transactions

Posted in Broker-Dealer
The Financial Industry Regulatory Authority, Inc. has released frequently asked questions (FAQs) related to the enhanced confirmation disclosure requirements for certain corporate and agency debt securities transactions pursuant to recently approved amendments to FINRA Rule 2232. The new requirements obligate FINRA members to disclose additional transaction-related information to retail customers for trades in corporate or… Continue Reading

SEC Approves Pricing Disclosures for Fixed Income Securities

Posted in Broker-Dealer
The Securities and Exchange Commission has approved amendments to Financial Industry Regulatory Authority (FINRA) Rule 2232 (Customer Confirmations) that require FINRA-member firms to disclose additional information to retail customers with respect to transactions in certain fixed income securities (the “Final Rules”). The Final Rules require the disclosure in customer confirmations of (1) the mark-up or… Continue Reading

NFA Proposes Changes to Forex Customer Disclosure Requirements

Posted in CFTC
On November 25, National Futures Association (NFA) submitted to the Commodity Futures Trading Commission a proposed amendment to NFA Compliance Rule 2-36. The amended rule would require a forex dealer member (FDM), upon customer request, to disclose the following information for each of the 15 forex transactions in the same currency pair occurring immediately before… Continue Reading

SEC Proposes Amendments To Update and Simplify Disclosure Requirements: A Closer Look

Posted in SEC/Corporate
On July 13, the Securities Exchange Commission proposed and requested comment regarding rule amendments to update and simplify certain disclosure requirements that may have become “redundant, duplicative, overlapping, outdated or superseded” in light of: 1) US Generally Accepted Accounting Principles (GAAP); 2) International Financial Reporting Standards (IFRS); 3) other SEC disclosure requirements; or 4) changes… Continue Reading

SEC Proposes Rules Updating Mining Registrant Disclosure Requirements

Posted in SEC/Corporate
On June 16, 2016, the Securities and Exchange Commission proposed rules (Proposed Rules) to modernize the property disclosure requirements for mining companies under Item 102 of Regulation S-K. The Proposed Rules would also rescind Industry Guide 7 and add a new subpart to Regulation S-K to incorporate the SEC’s mining property disclosure requirements. In its… Continue Reading