Published on Oct 12th, 2022 |

SEC Releases

Brief Introduction

The SEC routinely opens a comment period for rulemaking releases to allow any interested and affected persons the chance to give their input.

A computer error may have prevented commenting on 11 Commission releases, so the SEC is reopening a 14-day period (starting from October 7th, 2022) for additional comments on the affected releases.

What Releases Were Affected?

It is reported that most comments lost were submitted in August 2022, but comments as far back as June 2021 could have potentially been lost.

The Affected Releases are as follows:

  1. Reporting of Securities Loans, Release No. 34-93613 (Dec. 8, 2021)
  2. Prohibition Against Fraud, Manipulation, or Deception in Connection with Security-Based Swaps; Prohibition against Undue Influence over Chief Compliance Officers; Position Reporting of Large Security-Based Swap Positions, Release No. 34-93784 (Feb. 4, 2022)
  3. Money Market Fund Reforms, Release No. IC-34441 (Feb. 8, 2022)
  4. Share Repurchase Disclosure Modernization, Release Nos. 34-93783, IC-34440 (Feb. 15, 2022)
  5. Short Position and Short Activity Reporting by Institutional Investment Managers, Release No. 34-94313 (Mar. 16, 2022)
  6. Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure, Release Nos. 33-11038, 34-94382, IC-34529 (Mar. 23, 2022)
  7. Private Fund Advisers; Documentation of Registered Investment Adviser Compliance Reviews, Release No. IA-5955 (Mar. 24, 2022)
  8. The Enhancement and Standardization of Climate-Related Disclosures for Investors Release Nos. 33-11042, 34-94478 (Apr. 11, 2022)
  9. Special Purpose Acquisition Companies, Shell Companies, and Projections, Release Nos. 33-11048, 34-94546, IC-34549 (May 13, 2022)
  10. Investment Company Names, Release Nos. 33-11067, 34-94981, IC-34593 (June 17, 2022)
  11. Enhanced Disclosures by Certain Investment Advisers and Investment Companies About Environmental, Social, and Governance Investment Practices, Release Nos. 33-11068, 34-94985, IA-6034, IC-34594 (June 17, 2022)
  12. Request for Comment on Certain Information Providers Acting as Investment Advisers, Release Nos. IA-6050, IC-34618 (June 22, 2022)

Vigilant’s Final Conclusion

Anyone who has submitted a public comment for the above releases from June 2021 to August 2022 is encouraged to check the comment file for the release on SEC.gov to see if your comment was posted.

Any comments missing should be assumed to be lost, and resubmitted.

With the increase of Proposed Rules and newly Effective Rules, it can be difficult to stay ahead and not fall behind. If you are looking for a support layer in managing your Compliance Program for what new Rule(s) could apply to your Firm, or are looking to completely remove the Compliance responsibility, contact us today to connect with a member from the Vigilant Team on how we can help.

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