BlackRock to Pay $2.5M SEC Fine for Charges of Inaccurate Disclosure
The SEC charged the asset manager with describing a marketing firm as a financial services firm.
Regulation
DC Circuit Court Orders SEC to Reconsider Bitcoin ETF
The court ruled in August that the SEC had unfairly blocked the Grayscale bitcoin ETF, given the SEC had already approved two bitcoin futures ETPs.
How Are SFA Grant Recipients Investing That Money?
The answer varies from plan to plan, but there are incentives to invest the money conservatively.
New SEC Proposal Would Limit Bulk Discounts for Exchange Trading
Exchanges would be forbidden from offering volume-oriented rebates or pricing for broker/dealer agency orders.
PBGC Updates Premium Rates, Guarantee Levels for 2024
Most measures are still tied to inflation, but SECURE 2.0 capped the variable rate for single-employer plans at 5.2%.
Complex Products, Including Crypto, Highlighted in SEC Exam Priorities
Variable annuities, certain REITs and private holdings were other examples listed in the notice.
Industry Opposition Hardens Against SEC’s Proposal on AI, Conflicts
Though the comment period ended three days ago, panelists at a Security Traders Association conference offered continued criticisms of the controversial SEC proposal.
Congressman Calls for Proxy Firms to Register With SEC
Wisconsin’s Bryan Steil repeated the thesis of proposed legislation at an STA conference on Thursday: Proxy firms should register and disclose conflicts.
California Law Aims for More Equitable Distribution of VC Funding
SB 54 will take effect in March 2025 and will require annual diversity reporting, with a goal of increasing the capital available to venture capital firms owned by women and minorities.
DC Pensions in UK Will Soon Be Required to Disclose Illiquid Asset Policy
Beginning October 1, trustees must include the asset class breakdown for each of their plan’s default arrangements.
Key Government Data, Such as Unemployment and Inflation, Would Not be Published During a Shutdown
Government data collection agencies, such as the Bureau of Labor Statistics, would shut down completely absent a continuing resolution.
New IPOs Cannot Be Processed During Potential Shutdown, SEC Chairman Says
Companies cannot go public if the SEC lacks the staff to process the paperwork, and public companies may be unable to make new offerings.
Infrastructure Fund Adviser Penalized $1.6M by SEC for Fee, Conflict Violations
The firm allegedly failed to disclose conflicts of interest and loans between funds it was advising and managing.
Printer’s Pension Receives $20.6M From PBGC
The plan was projected to become insolvent next year, when it would have had to cut benefits nearly in half.
SEC Tightens Fund Naming Rules
The new rule applies an 80% investment policy that extends far wider than just ESG funds.