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.
Regulation
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.
PBGC Paid $127M for Deceased Central States Participants, Senate Republicans Demand Repayment
The error was identified in November 2023, and the Central States pension plan has asked for legal clarity on how to return it.
AI Poses Unique Risks to Investors, SEC Chair Says
Conflicts can be easily concealed by complicated and evolving predictive technologies, Gary Gensler argued.
US Venture Capital Firms’ China Investments Scrutinized by Congress
American VC firms invested in Chinese AI, semiconductor, aerospace and defense startups, including some blacklisted by the U.S., according to a House committee report.
Allocators Condemn UK Regulator’s Plan to Limit Investor Approvals
As it stands, shareholders must assent to M&A or related-party deals. But the FCA wants to ease listing requirements to stem companies decamping to New York exchanges.
SEC Finalizes Liquidity Dealer Rule
The rule would require unregistered liquidity providers to register as dealers with the SEC.
SEC Predictive Analytics Proposal Targeted by Senate Republicans
The proposal has been widely criticized by the financial industry for being too broad in its application.