Securities and Exchange Commission July 2019 – Federal Register Recent Federal Regulation Documents

Results 101 - 150 of 177
Form CRS Relationship Summary; Amendments to Form ADV
Document Number: 2019-12376
Type: Rule
Date: 2019-07-12
Agency: Securities and Exchange Commission, Agencies and Commissions
The Securities and Exchange Commission (the ``Commission'' or the ``SEC'') is adopting new rules and forms as well as amendments to its rules and forms, under both the Investment Advisers Act of 1940 (``Advisers Act'') and the Securities Exchange Act of 1934 (``Exchange Act'') to require registered investment advisers and registered broker- dealers (together, ``firms'') to provide a brief relationship summary to retail investors. The relationship summary is intended to inform retail investors about: The types of client and customer relationships and services the firm offers; the fees, costs, conflicts of interest, and required standard of conduct associated with those relationships and services; whether the firm and its financial professionals currently have reportable legal or disciplinary history; and how to obtain additional information about the firm. The relationship summary will also reference Investor.gov/CRS, a page on the Commission's investor education website, Investor.gov, which offers educational information to investors about investment advisers, broker-dealers, and individual financial professionals and other materials. Retail investors will receive a relationship summary at the beginning of a relationship with a firm, communications of updated information following a material change to the relationship summary, and an updated relationship summary upon certain events. The relationship summary is subject to Commission filing and recordkeeping requirements.
Commission Interpretation Regarding the Solely Incidental Prong of the Broker-Dealer Exclusion From the Definition of Investment Adviser
Document Number: 2019-12209
Type: Rule
Date: 2019-07-12
Agency: Securities and Exchange Commission, Agencies and Commissions
The Securities and Exchange Commission (the ``SEC'' or the ``Commission'') is publishing an interpretation of a section of the Investment Advisers Act of 1940 (the ``Advisers Act'' or the ``Act''), which excludes from the definition of ``investment adviser'' any broker or dealer that provides advisory services when such services are ``solely incidental'' to the conduct of the broker or dealer's business and when such incidental advisory services are provided for no special compensation.
Commission Interpretation Regarding Standard of Conduct for Investment Advisers
Document Number: 2019-12208
Type: Rule
Date: 2019-07-12
Agency: Securities and Exchange Commission, Agencies and Commissions
The Securities and Exchange Commission (the ``SEC'' or the ``Commission'') is publishing an interpretation of the standard of conduct for investment advisers under the Investment Advisers Act of 1940 (the ``Advisers Act'' or the ``Act'').
Regulation Best Interest: The Broker-Dealer Standard of Conduct
Document Number: 2019-12164
Type: Rule
Date: 2019-07-12
Agency: Securities and Exchange Commission, Agencies and Commissions
The Securities and Exchange Commission (the ``Commission'') is adopting a new rule under the Securities Exchange Act of 1934 (``Exchange Act''), establishing a standard of conduct for broker- dealers and natural persons who are associated persons of a broker- dealer (unless otherwise indicated, together referred to as ``broker- dealer'') when they make a recommendation to a retail customer of any securities transaction or investment strategy involving securities (``Regulation Best Interest''). Regulation Best Interest enhances the broker-dealer standard of conduct beyond existing suitability obligations, and aligns the standard of conduct with retail customers' reasonable expectations by requiring broker-dealers, among other things, to: Act in the best interest of the retail customer at the time the recommendation is made, without placing the financial or other interest of the broker-dealer ahead of the interests of the retail customer; and address conflicts of interest by establishing, maintaining, and enforcing policies and procedures reasonably designed to identify and fully and fairly disclose material facts about conflicts of interest, and in instances where we have determined that disclosure is insufficient to reasonably address the conflict, to mitigate or, in certain instances, eliminate the conflict. The standard of conduct established by Regulation Best Interest cannot be satisfied through disclosure alone. The standard of conduct draws from key principles underlying fiduciary obligations, including those that apply to investment advisers under the Investment Advisers Act of 1940 (``Advisers Act''). Importantly, regardless of whether a retail investor chooses a broker-dealer or an investment adviser (or both), the retail investor will be entitled to a recommendation (from a broker-dealer) or advice (from an investment adviser) that is in the best interest of the retail investor and that does not place the interests of the firm or the financial professional ahead of the interests of the retail investor.
List of Rules To Be Reviewed Pursuant to the Regulatory Flexibility Act
Document Number: 2019-14616
Type: Proposed Rule
Date: 2019-07-11
Agency: Securities and Exchange Commission, Agencies and Commissions
The Securities and Exchange Commission is publishing a list of rules to be reviewed pursuant to Section 610 of the Regulatory Flexibility Act. The list is published to provide the public with notice that these rules are scheduled for review by the agency and to invite public comment on whether the rules should be continued without change, or should be amended or rescinded to minimize any significant economic impact of the rules upon a substantial number of small entities.
Investor Advisory Committee Meeting
Document Number: 2019-14525
Type: Notice
Date: 2019-07-09
Agency: Securities and Exchange Commission, Agencies and Commissions
The Securities and Exchange Commission Investor Advisory Committee, established pursuant to Section 911 of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, is providing notice that it will hold a public meeting. The public is invited to submit written statements to the Committee.
Sunshine Act Meetings
Document Number: 2019-14533
Type: Notice
Date: 2019-07-08
Agency: Securities and Exchange Commission, Agencies and Commissions
Fixed Income Market Structure Advisory Committee
Document Number: 2019-14345
Type: Notice
Date: 2019-07-05
Agency: Securities and Exchange Commission, Agencies and Commissions
Notice is being provided that the Securities and Exchange Commission Fixed Income Market Structure Advisory Committee will hold a public meeting on Monday, July 29, 2019 in Multi-Purpose Room LL-006 at the Commission's headquarters, 100 F Street NE, Washington, DC. The meeting will begin at 9:30 a.m. (ET) and will be open to the public. The meeting will be webcast on the Commission's website at www.sec.gov. Persons needing special accommodations to take part because of a disability should notify the contact persons listed below. The public is invited to submit written statements to the Committee. The meeting will include updates and presentations from the subcommittees.
Notice of Applications for Deregistration Under Section 8(f) of the Investment Company Act of 1940
Document Number: 2019-14287
Type: Notice
Date: 2019-07-05
Agency: Securities and Exchange Commission, Agencies and Commissions
Applicant, a closed-end investment company, seeks an order declaring that it has ceased to be an investment company. On June 6, 2019, applicant made a final liquidating distribution to its shareholders based on net asset value. Expenses of $4,000 incurred in connection with the liquidation were paid by applicant. Applicant also has retained $92,815 in an illiquid security and holdback receivable for the purpose of paying outstanding liabilities. Filing Date: The application was filed on June 14, 2019. Applicant's Address: 100 Bellevue Parkway, Wilmington, Delaware 19809.
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