SEC Proposes Risk Mitigation Techniques for Uncleared Security-Based Swaps

The Securities and Exchange Commission today voted to propose rules requiring the application of risk mitigation techniques to portfolios of uncleared security-based swaps.  Proposed Rules 15Fi-3 through 15Fi-5 would establish requirements for register…

SEC Adopts Rule of Practice 194

The Securities and Exchange Commission today announced that it has voted to adopt Rule of Practice 194.  In general, this rule creates a transparent, efficient, and comprehensive process for a registered security-based swap dealer or major security-bas…

SEC Approves 2019 PCAOB Budget and Accounting Support Fee

The Securities and Exchange Commission voted today to approve the 2019 budget of the Public Company Accounting Oversight Board (PCAOB) and the related annual accounting support fee.

The 2019 PCAOB budget totals $273.7 million. The accounting support f…

SEC Adopts Final Rules for Disclosure of Hedging Policies

The Securities and Exchange Commission today approved final rules to require companies to disclose in proxy or information statements for the election of directors any practices or policies regarding the ability of employees or directors to engage in c…

SEC Charges Former Panasonic Executives

The Securities and Exchange Commission today charged two former senior executives of the U.S. subsidiary of Panasonic Corp. with knowingly violating the books and records and internal accounting controls provisions of the federal securities laws and ca…

SEC Publishes Two Reports on Credit Rating Agencies Showing Continued Focus on Compliance and Competition

Credit rating agencies registered with the SEC continue to promote compliance by enhancing their policies, procedures, and internal controls in response to Commission rules and staff examinations. SEC staff reports released today on nationally recogniz…

Daniel Kahl Named Deputy Director of the Office of Compliance Inspections and Examinations

The Securities and Exchange Commission today announced that Daniel Kahl has been named Deputy Director of the agency’s Office of Compliance Inspections and Examinations (OCIE). Mr. Kahl has been with the SEC for over 17 years, serving as OCIE’s Chief C…

SEC Solicits Public Comment on Earnings Releases and Quarterly Reports

The Securities and Exchange Commission today published a request for comment soliciting input on the nature, content, and timing of earnings releases and quarterly reports made by reporting companies.   

The request for comment solicits public input o…

Scott W. Bauguess, Deputy Director of the Division of Economic and Risk Analysis, to Leave the Agency After a Decade of Service

The Securities and Exchange Commission today announced that Scott W. Bauguess, Deputy Director of the Division of Economic and Risk Analysis (DERA) and Deputy Chief Economist, will leave the agency in January after more than 11 years of service. Dr. Ba…

BNY Mellon to Pay More Than $54 Million for Improper Handling of ADRs

The Securities and Exchange Commission today announced that Bank of New York Mellon will pay more than $54 million to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs).

ADRs – U.S. securities that represent fore…

Jeffrey S. Mooney Named Associate Director in the Office of Clearance and Settlement

The Securities and Exchange Commission today announced that Jeffrey S. Mooney has been named Associate Director of the Office of Clearance and Settlement in the agency’s Division of Trading and Markets. 

Mr. Mooney joined the SEC staff in 1996 and has…

SEC Charges Former New York Investment Advisor and Daughter With Conducting a Ponzi Scheme

The Securities and Exchange Commission today charged a former Rockland County, New York-based investment adviser and his daughter with conducting a multi-million dollar Ponzi scheme that defrauded local community members as well as members of their fam…