Securities and Exchange Commission 2010 – Federal Register Recent Federal Regulation Documents
Results 401 - 450 of 2,032
Ownership Limitations and Governance Requirements for Security-Based Swap Clearing Agencies, Security-Based Swap Execution Facilities, and National Securities Exchanges With Respect to Security-Based Swaps Under Regulation MC
In accordance with Section 765 (``Section 765'') of Title VII (``Title VII'') of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (``Dodd-Frank Act''), the Securities and Exchange Commission (``SEC'' or ``Commission'') is proposing Regulation MC under the Securities Exchange Act of 1934 (``Exchange Act'') for clearing agencies that clear security-based swaps (``security-based swap clearing agencies'') and for security-based swap execution facilities (``SB SEFs'') and national securities exchanges that post or make available for trading security-based swaps (``SBS exchanges''). Regulation MC is designed to mitigate potential conflicts of interest that could exist at these entities. Specifically, the Commission seeks to mitigate the potential conflicts of interest through conditions and structures relating to ownership, voting, and governance of security- based swap clearing agencies, SB SEFs, and SBS exchanges.
Citigroup Global Markets Inc., et al.; Notice of Application and Temporary Order
Summary of Application: Applicants have received a temporary order exempting them from section 9(a) of the Act, with respect to an injunction entered against Citigroup Inc. (``Citigroup'') on October 19, 2010 by the United States District Court for the District of Columbia (the ``Injunction''), until the Commission takes final action on an application for a permanent order. Applicants also have applied for a permanent order. Applicants: Citigroup Global Markets Inc. (``CGMI''), CEFOF GP I Corp. (``CEFOF''), CELFOF GP Corp. (``CELFOF''), Citibank, N.A. (``Citibank''), Citigroup Alternative Investments LLC (``Citigroup Alternative''), Consulting Group Advisory Services LLC (``Advisory Services''), Citigroup Capital Partners I GP I Corp. (``CCP I''), and Citigroup Capital Partners I GP II Corp. (``CCP II'') (collectively, ``Applicants'').\1\
Disclosure for Asset-Backed Securities Required by Section 943 of the Dodd-Frank Wall Street Reform and Consumer Protection Act
The Securities and Exchange Commission published a document in the Federal Register of October 13, 2010, concerning Disclosure for Asset-Backed Securities Required by Section 943 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The document contained an incorrect reference to Sec. 249.1300. This correction is being published to correct the reference.
Joint Public Roundtable on Issues Related to the Clearing of Credit Default Swaps
On October 22, 2010, commencing at 9 a.m. and ending at 12 p.m., staff of the Agencies will hold a public roundtable discussion at which invited participants will discuss certain issues related to the clearing of Credit Default Swaps in the context of the Agencies rulemaking efforts pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act (the ``Act''). The discussion will be open to the public with seating on a first-come, first-served basis. Members of the public may also listen by telephone. Call-in participants should be prepared to provide their first name, last name, and affiliation. The information for the conference call is set forth below. US Toll-Free: (866) 844-9416. International Toll: 1-203-369-5026. Passcode: 8693978. A transcript of the public roundtable discussion will be published on the CFTC's Web site at https://www.cftc.gov/LawRegulation/ DoddFrankAct/OTC_7_DCORules.html. The roundtable discussion will take place in Lobby Level Hearing Room (Room 1000) at the CFTC's headquarters at Three Lafayette Centre, 1155 21st Street, NW., Washington, DC.
Study Required by Section 989G(b) of the Dodd-Frank Act Regarding Compliance With Section 404(b) of the Sarbanes-Oxley Act
The Securities and Exchange Commission is requesting public comment related to a study of how the Commission could reduce the burden of complying with Section 404(b) of the Sarbanes-Oxley Act of 2002 for companies whose public float is between $75 million and $250 million, while maintaining investor protections for such companies, and whether any methods of reducing the compliance burden or a complete exemption for such companies from the auditor attestation requirement in Section 404(b) would encourage companies to list on exchanges in the United States in their initial public offerings. This study is required by the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Facilitating Shareholder Director Nominations
By order dated October 4, 2010 (Release No. 33-9149, 34- 63031), the Securities and Exchange Commission (``Commission'') stayed from November 15, 2010 until the resolution of the petition for review in Business Roundtable, et al. v. SEC, No. 10-1305 (D.C. Cir., filed Sept. 29, 2010) (``Business Roundtable''), the effective and compliance dates of amendments to the federal proxy and related rules that the Commission adopted to facilitate the effective exercise of shareholders' traditional state law rights to nominate and elect directors to company boards of directors. We are publishing this release in the Federal Register to provide additional notice regarding the change in effective and compliance dates of the amendments.
Indexed Annuities
We are withdrawing rule 151A under the Securities Act of 1933, which defines the terms ``annuity contract'' and ``optional annuity contract'' under the Act. On July 12, 2010, the United States Court of Appeals for the District of Columbia Circuit issued an order vacating the rule.
Reporting of Security-Based Swap Transaction Data
Section 766 of Title VII of the Dodd-Frank Wall Street Reform and Consumer Protection Act (``Dodd-Frank Act'') requires the Securities and Exchange Commission (``Commission'') to adopt an interim final rule for the reporting of security-based swaps entered into before July 21, 2010, the terms of which had not expired as of that date (``pre-enactment security-based swap transactions''), within 90 days of the enactment of the Dodd-Frank Act. Pursuant to this requirement, the Commission today is adopting an interim final temporary rule that requires specified counterparties to pre-enactment security-based swap transactions to report certain information relating to pre-enactment security-based swaps to a registered security-based swap data repository or to the Commission by the compliance date established in the security-based swap reporting rules required under Sections 3C(e) and 13A(a) of the Securities Exchange Act of 1934 (``Exchange Act''),\1\ or within 60 days after a registered security- based swap data repository commences operations to receive and maintain data concerning such security-based swaps, whichever occurs first and report information relating to pre-enactment security-based swaps to the Commission upon request. The Commission also is issuing an Interpretive Note to the rule that states that counterparties that may be required to report to the Commission will need to preserve information pertaining to the terms of these pre-enactment security- based swaps.
Technical Amendments to Forms N-CSR and N-SAR in Connection With the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010
The Securities and Exchange Commission is adopting technical amendments to Forms N-CSR and N-SAR under the Securities Exchange Act of 1934 and the Investment Company Act of 1940 in connection with amendments to Section 13(c) of the Investment Company Act that were included in the Comprehensive Iran Sanctions, Accountability, and Divestment Act of 2010.
Issuer Review of Assets in Offerings of Asset-Backed Securities
We are proposing new requirements in order to implement Section 945 and a portion of Section 932 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010 (the ``Act''). First, we are proposing a new rule under the Securities Act of 1933 to require any issuer registering the offer and sale of an asset-backed security (``ABS'') to perform a review of the assets underlying the ABS. We also are proposing amendments to Item 1111 of Regulation AB that would require an ABS issuer to disclose the nature of its review of the assets and the findings and conclusions of the issuer's review of the assets. If the issuer has engaged a third party for purposes of reviewing the assets, we propose to require that the issuer disclose the third-party's findings and conclusions. We also are proposing to require that an issuer or underwriter of an ABS offering file a new form to include certain disclosure relating to third-party due diligence providers, to implement Section 15E(s)(4)(A) of the Securities Exchange Act of 1934, a new provision added by Section 932 of the Act.
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