On August 21st, 2020, the SEC voted to propose revisions to the National Market System Plan overseeing the Consolidated Audit Trail (CAT NMS Plan) to reinforce the Consolidated Audit Trail’s (CAT) data security. Although the CAT NMS Plan currently has a number of requirements in place regarding the security and privacy of CAT data, the proposed modifications to the CAT NMS Plan are the latest SEC action to limit the scope of sensitive data required to be gathered by CAT. Continue reading "SEC Plans Boost to Data Security for the CAT..." »

On August 28th, FERC announced details for the upcoming Carbon Pricing in Organized Wholesale Electricity Markets Technical Conference, which is scheduled for Wednesday, September 30, 2020 from 9 am to 5:30 pm EDT. Registration is not necessary, and the public is invited to take part in this free event via live webcast. Continue reading "FERC Announces Details of September 30th Carbon..." »

The SEC will be closed Monday, September 7th in observance of Labor Day. The EDGAR System will not receive, process or accept filings on this day. Filings with a due date of September 7 will be due the following business day.
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The SEC has announced that it will hold a virtual public meeting of its Investor Advisory Committee on September 24, 2020. The meeting is open to the public via live webcast from 10 am to 4 pm EDT and will be archived for later viewing on the SEC’s website. Continue reading "SEC Investor Advisory Committee to Hold Public..." »

On August 31st, the SEC revised its list of unregistered entities using misleading data to solicit primarily non-US investors. Twenty-three soliciting entities, eight impersonators of legitimate securities firms, and seven phony regulators have been added to the the Public Alert: Unregistered Soliciting Entities (PAUSE) list.
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On August 28, FERC extended deadlines for some forms through and including September 30th for entities and investment professionals affected by Hurricane Laura in the Gulf Coast region of the United States. In recognition of these emergency conditions, and following sections 385.101(e) and 385.2008 of FERC’s Rules of Practice and Procedure, 18 C.F.R. §§ 385.101(e) and 385.2008 (2019), FERC has determined that there is good cause to grant this extension of time.
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On August 26th, the SEC announced that it has adopted amendments to update the description of business (Item 101), legal proceedings (Item 103), and risk factor disclosures (Item 105) that registrants are required to make in accordance with Regulation S-K. The amendments modernize these items to reflect the many changes in US capital markets and the domestic and global economy in recent decades. Before the adoption of these new rule amendments, there had not been significant revisions to these disclosure requirements in over 30 years. Continue reading "SEC Modernizes Disclosures of Business, Legal..." »

On August 26th, the SEC adopted amendments to the “accredited investor” definition. This definition is one of the primary criteria for determining which entities and investing professionals are eligible to participate in private capital markets. Traditionally, individual investors who do not meet specific income or net worth qualifications have been denied the chance to invest in complex and vast private markets, regardless of their financial sophistication. The amendments update and improve the definition to recognize more effectively institutional and individual investors that have the knowledge and expertise to participate in those markets.
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