Proposed Rule2021-27952
Regulatory Flexibility Agenda
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
January 31, 2022
Issuing agencies
Securities and Exchange Commission
Abstract
The Securities and Exchange Commission is publishing the Chair's agenda of rulemaking actions pursuant to the Regulatory Flexibility Act (RFA) (Pub. L. 96-354, 94 Stat. 1164) (Sep. 19, 1980). The items listed in the Regulatory Flexibility Agenda for Fall 2021 reflect only the priorities of the Chair of the U.S. Securities and Exchange Commission, and do not necessarily reflect the view and priorities of any individual Commissioner. Information in the agenda was accurate on September 27, 2021, the date on which the Commission's staff completed compilation of the data. To the extent possible, rulemaking actions by the Commission since that date have been reflected in the agenda. The Commission invites questions and public comment on the agenda and on the individual agenda entries. The Commission is now printing in the Federal Register, along with our preamble, only those agenda entries for which we have indicated that preparation of an RFA analysis is required. The Commission's complete RFA agenda will be available online at www.reginfo.gov.
Full Text
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<title>Federal Register, Volume 87 Issue 20 (Monday, January 31, 2022)</title>
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[Federal Register Volume 87, Number 20 (Monday, January 31, 2022)]
[Proposed Rules]
[Pages 5382-5386]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-27952]
[[Page 5381]]
Vol. 87
Monday,
No. 20
January 31, 2022
Part XXVII
Securities and Exchange Commission
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Semiannual Regulatory Agenda
Federal Register / Vol. 87 , No. 20 / Monday, January 31, 2022 / UA:
Reg Flex Agenda
[[Page 5382]]
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SECURITIES AND EXCHANGE COMMISSION
17 CFR Ch. II
[Release Nos. 33-10995; 34-93258; IA-5885; IC-34393; File No. S7-13-21]
Regulatory Flexibility Agenda
AGENCY: Securities and Exchange Commission.
ACTION: Semiannual Regulatory Agenda.
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SUMMARY: The Securities and Exchange Commission is publishing the
Chair's agenda of rulemaking actions pursuant to the Regulatory
Flexibility Act (RFA) (Pub. L. 96-354, 94 Stat. 1164) (Sep. 19, 1980).
The items listed in the Regulatory Flexibility Agenda for Fall 2021
reflect only the priorities of the Chair of the U.S. Securities and
Exchange Commission, and do not necessarily reflect the view and
priorities of any individual Commissioner.
Information in the agenda was accurate on September 27, 2021, the
date on which the Commission's staff completed compilation of the data.
To the extent possible, rulemaking actions by the Commission since that
date have been reflected in the agenda. The Commission invites
questions and public comment on the agenda and on the individual agenda
entries.
The Commission is now printing in the Federal Register, along with
our preamble, only those agenda entries for which we have indicated
that preparation of an RFA analysis is required.
The Commission's complete RFA agenda will be available online at
<a href="http://www.reginfo.gov">www.reginfo.gov</a>.
DATES: Comments should be received on or before March 2, 2022.
ADDRESSES: Comments may be submitted by any of the following methods:
Electronic Comments
<bullet> Use the Commission's internet comment form (<a href="http://www.sec.gov/rules/other.shtml">http://www.sec.gov/rules/other.shtml</a>); or
<bullet> Send an email to <a href="/cdn-cgi/l/email-protection#ef9d9a838ac28c8082828a819b9caf9c8a8cc1888099"><span class="__cf_email__" data-cfemail="92e0e7fef7bff1fdfffff7fce6e1d2e1f7f1bcf5fde4">[email protected]</span></a>. Please include
File Number S7-13-21 on the subject line.
Paper Comments
<bullet> Send paper comments to Vanessa A. Countryman, Secretary,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549-1090.
All submissions should refer to File No. S7-13-21. This file number
should be included on the subject line if email is used. To help us
process and review your comments more efficiently, please use only one
method. The Commission will post all comments on the Commission's
internet website (<a href="http://www.sec.gov/rules/other.shtml">http://www.sec.gov/rules/other.shtml</a>). Comments are
also available for website viewing and printing in the Commission's
Public Reference Room, 100 F Street NE, Washington, DC 20549, on
official business days between the hours of 10 a.m. and 3 p.m.
Operating conditions may limit access to the Commission's public
reference room. All comments received will be posted without change.
Persons submitting comments are cautioned that we do not redact or edit
personal identifying information from submissions. You should submit
only information that you wish to make available publicly.
FOR FURTHER INFORMATION CONTACT: Sarit Klein, Office of the General
Counsel, 202-551-5037.
SUPPLEMENTARY INFORMATION: The RFA requires each Federal agency, twice
each year, to publish in the Federal Register an agenda identifying
rules that the agency expects to consider in the next 12 months that
are likely to have a significant economic impact on a substantial
number of small entities (5 U.S.C. 602(a)). The RFA specifically
provides that publication of the agenda does not preclude an agency
from considering or acting on any matter not included in the agenda and
that an agency is not required to consider or act on any matter that is
included in the agenda (5 U.S.C. 602(d)). The Commission may consider
or act on any matter earlier or later than the estimated date provided
on the agenda. While the agenda reflects the current intent to complete
a number of rulemakings in the next year, the precise dates for each
rulemaking at this point are uncertain. Actions that do not have an
estimated date are placed in the long-term category; the Commission may
nevertheless act on items in that category within the next 12 months.
The agenda includes new entries, entries carried over from prior
publications, and rulemaking actions that have been completed (or
withdrawn) since publication of the last agenda.
The following abbreviations for the acts administered by the
Commission are used in the agenda:
``Securities Act''--Securities Act of 1933
``Exchange Act''--Securities Exchange Act of 1934
``Investment Company Act''--Investment Company Act of 1940
``Investment Advisers Act''--Investment Advisers Act of 1940
``Dodd Frank Act''--Dodd-Frank Wall Street Reform and Consumer
Protection Act
The Commission invites public comment on the agenda and on the
individual agenda entries.
By the Commission.
Dated: October 4, 2021.
Vanessa A. Countryman,
Secretary.
Division of Corporation Finance--Proposed Rule Stage
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Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
544....................... Listing Standards for 3235-AK99
Recovery of Erroneously
Awarded Compensation.
545....................... Pay Versus Performance.... 3235-AL00
546....................... Mandated Electronic 3235-AM15
Filings.
547....................... Rule 144 Holding Period 3235-AM78
and Form 144 Filings.
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Division of Corporation Finance--Final Rule Stage
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
548....................... Universal Proxy........... 3235-AL84
549....................... Filing Fee Disclosure and 3235-AL96
Payment Methods
Modernization.
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[[Page 5383]]
Division of Corporation Finance--Completed Actions
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Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
550....................... Modernization of Rules and 3235-AM38
Forms for Compensatory
Securities Offerings and
Sales.
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Division of Investment Management--Proposed Rule Stage
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
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551....................... Reporting of Proxy Votes 3235-AK67
on Executive Compensation
and Other Matters.
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Division of Investment Management--Final Rule Stage
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Regulation
Sequence No. Title Identifier No.
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552....................... Tailored Shareholder 3235-AM52
Reports, Treatment of
Annual Prospectus Updates
for Existing Investors,
and Improved Fee and Risk
Disclosure for Mutual
Funds and ETFs; Fee
Information in Investment
Company Ads.
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Division of Investment Management--Long-Term Actions
------------------------------------------------------------------------
Regulation
Sequence No. Title Identifier No.
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553....................... Amendments to the Custody 3235-AM32
Rules for Investment
Advisers.
554....................... Amendments to the Custody 3235-AM66
Rules for Investment
Companies.
555....................... Amendments to Improve Fund 3235-AM73
Proxy System.
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Division of Investment Management--Completed Actions
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Regulation
Sequence No. Title Identifier No.
------------------------------------------------------------------------
556....................... Amendments to Rule 17a-7 3235-AM69
Under the Investment
Company Act.
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Division of Trading and Markets--Proposed Rule Stage
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Regulation
Sequence No. Title Identifier No.
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557....................... Removal of References to 3235-AL14
Credit Ratings from
Regulation M.
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SECURITIES AND EXCHANGE COMMISSION (SEC)
Division of Corporation Finance
Proposed Rule Stage
544. Listing Standards for Recovery of Erroneously Awarded Compensation
Legal Authority: Pub. L. 111-203, sec. 954; 15 U.S.C. 78j-4
Abstract: The Division is considering recommending that the
Commission re-open the comment period on rules to implement section 954
of the Dodd Frank Act, which requires the Commission to adopt rules to
direct national securities exchanges to prohibit the listing of
securities of issuers that have not developed and implemented a policy
providing for disclosure of the issuer's policy on incentive-based
compensation and mandating the clawback of such compensation in certain
circumstances.
Timetable:
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Action Date FR Cite
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NPRM................................ 07/14/15 80 FR 41144
NPRM Comment Period End............. 09/14/15
NPRM Comment Period Reopened........ 12/00/21
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Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Anne M. Krauskopf, Division of Corporation Finance,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549, Phone: 202 551-3500, Email: <a href="/cdn-cgi/l/email-protection#9af1e8fbefe9f1f5eafcfbdae9fff9b4fdf5ec"><span class="__cf_email__" data-cfemail="147f667561677f7b647275546771773a737b62">[email protected]</span></a>.
RIN: 3235-AK99
545. Pay Versus Performance
Legal Authority: Pub. L. 111-203, sec. 953(a); 15 U.S.C. 78c(b); 15
U.S.C. 78n; 15 U.S.C. 78w(a); 15 U.S.C. 78mm
Abstract: The Division is considering recommending that the
Commission re-open the comment period on rules to implement section
953(a) of the Dodd-Frank Act, which added section 14(i) to the Exchange
Act to require issuers to disclose information that shows the
relationship between executive compensation actually paid and the
financial performance of the issuer.
Timetable:
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Action Date FR Cite
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NPRM................................ 05/07/15 80 FR 26329
NPRM Comment Period End............. 07/06/15
[[Page 5384]]
NPRM Comment Period Reopened........ 04/00/22
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Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Steven G. Hearne, Division of Corporation Finance,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549, Phone: 202 551-3430, Email: <a href="/cdn-cgi/l/email-protection#325a5753405c5741724157511c555d44"><span class="__cf_email__" data-cfemail="6f070a0e1d010a1c2f1c0a0c41080019">[email protected]</span></a>.
RIN: 3235-AL00
546. Mandated Electronic Filings
Legal Authority: 15 U.S.C. 77d; 15 U.S.C. 77f; 15 U.S.C. 77g; 15
U.S.C. 77h; 15 U.S.C. 77j; 15 U.S.C. 77s(a); 15 U.S.C. 78c; 15 U.S.C.
78l; 15 U.S.C. 78m; 15 U.S.C. 78n; 15 U.S.C. 78o(d); 15 U.S.C. 78p; 15
U.S.C. 78w(a); 15 U.S.C. 78ll
Abstract: The Division is considering recommending that the
Commission propose amendments to Regulation S-T that would update the
mandated electronic submissions requirements to include additional
filings.
Timetable:
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Action Date FR Cite
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NPRM................................ 12/00/21
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Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Noel Sean Harrison, Division of Corporation
Finance, Securities and Exchange Commission, 100 F Street NE,
Washington, DC 20549, Phone: 202 551-3249, Email: <a href="/cdn-cgi/l/email-protection#9cf4fdeeeef5eff3f2efdceff9ffb2fbf3ea"><span class="__cf_email__" data-cfemail="ee868f9c9c879d81809dae9d8b8dc0898198">[email protected]</span></a>.
RIN: 3235-AM15
547. Rule 144 Holding Period and Form 144 Filings
Legal Authority: 12 U.S.C. 5461 et seq.; 15 U.S.C. 77b; 15 U.S.C.
77b note; 15 U.S.C. 77c; 15 U.S.C. 77d; 15 U.S.C. 77f; 15 U.S.C. 77g;
15 U.S.C. 77h; 15 U.S.C. 77j; 15 U.S.C. 77r; 15 U.S.C. 77s; 15 U.S.C.
77s(a); 15 U.S.C. 77z-2; 15 U.S.C. 77z-3; 15 U.S.C. 77sss; 15 U.S.C.
77sss(a); 15 U.S.C. 78a et seq.; 15 U.S.C. 78c; 15 U.S.C. 78c(b); 15
U.S.C. 78d; 15 U.S.C. 78j; 15 U.S.C. 78l; 15 U.S.C. 78m; 15 U.S.C. 78n;
15 U.S.C. 78o; 15 U.S.C. 78o-7 note; 15 U.S.C. 78o(d); 15 U.S.C. 78t;
15 U.S.C. 78u-5; 15 U.S.C. 78w; 15 U.S.C. 78w(a); 15 U.S.C. 78ll; 15
U.S.C. 78ll(d); 15 U.S.C. 78mm; 15 U.S.C. 80a-2(a); 15 U.S.C. 80a-3; 15
U.S.C. 80a-6(c); 15 U.S.C. 80a-8; 15 U.S.C. 80a-9; 15 U.S.C. 80a-10; 15
U.S.C. 80a-13; 15 U.S.C. 80a-24; 15 U.S.C. 80a-26; 15 U.S.C. 80a-28; 15
U.S.C. 80a-29; 15 U.S.C. 80a-30; 15 U.S.C. 80a-37; 15 U.S.C. 7201 et
seq.; 18 U.S.C, 1350; sec. 953(b) Pub. L. 111-203, 124 Stat. 1904; sec.
102(a)(3) Pub. L. 112-106, 126 Stat. 309 (2012); sec. 107 Pub. L. 112-
106, 126 Stat. 313 (2012); sec. 201(a) Pub. L. 112-106, 126 Stat. 313
(2012); sec. 401 Pub. L. 112-106, 126 Stat. 313 (2012); sec. 72001 Pub.
L. 114-94, 129 Stat. 1312 (2015), unless otherwise noted; . . .
Abstract: The Division is considering recommending that the
Commission re-open the comment period on amendments to Rule 144, a non-
exclusive safe harbor that permits the public resale of restricted or
control securities if the conditions of the rule are met, and rule
amendments to update the electronic filing requirements applicable to
Form 144.
Timetable:
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Action Date FR Cite
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NPRM................................ 01/19/21 86 FR 5063
NPRM Comment Period End............. 03/22/21
NPRM Comment Period Reopened........ 04/00/22
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: John Fieldsend, Division of Corporation Finance,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549, Phone: 202 551-3430, Email: <a href="/cdn-cgi/l/email-protection#c4a2ada1a8a0b7a1aaa0ae84b7a1a7eaa3abb2"><span class="__cf_email__" data-cfemail="1a7c737f767e697f747e705a697f79347d756c">[email protected]</span></a>.
RIN: 3235-AM78
SECURITIES AND EXCHANGE COMMISSION (SEC)
Division of Corporation Finance
Final Rule Stage
548. Universal Proxy
Legal Authority: 15 U.S.C. 78n; 15 U.S.C. 78w(a)
Abstract: The Division is considering recommending that the
Commission adopt amendments to the proxy rules to allow a shareholder
voting by proxy to choose among all duly-nominated candidates in a
contested election of directors.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 11/10/16 81 FR 79122
NPRM Comment Period End............. 01/09/17
NPRM Comment Period Reopened........ 05/06/21 86 FR 24364
NPRM Comment Period Reopened End.... 06/07/21
Final Action........................ 12/00/21
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Ted Yu, Division of Corporation Finance, Securities
and Exchange Commission, 100 F Street NE, Washington, DC 20549, Phone:
202 551-3440, Email: <a href="/cdn-cgi/l/email-protection#c8b1bdbc88bbadabe6afa7be"><span class="__cf_email__" data-cfemail="671e12132714020449000811">[email protected]</span></a>.
RIN: 3235-AL84
549. Filing Fee Disclosure and Payment Methods Modernization
Legal Authority: 15 U.S.C. 77g; 15 U.S.C. 77j; 15 U.S.C. 77s(a); 15
U.S.C. 78c; 15 U.S.C. 78l; 15 U.S.C. 78m; 15 U.S.C. 78o(d); 15 U.S.C.
78s(a); 15 U.S.C. 78ll; 15 U.S.C. 80a-8; 15 U.S.C. 80a-24; 15 U.S.C.
80a-29; 15 U.S.C. 80a-37
Abstract: The Division is considering recommending that the
Commission adopt amendments that would modernize filing fee disclosure
and payment methods.
Timetable:
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Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 12/27/19 84 FR 71580
NPRM Comment Period End............. 02/25/20
Final Action........................ 12/00/21
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Mark W. Green, Division of Corporation Finance,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549-0301, Phone: 202 551-3809, Email: <a href="/cdn-cgi/l/email-protection#e0879285858e8da0938583ce878f96"><span class="__cf_email__" data-cfemail="3651445353585b7645535518515940">[email protected]</span></a>.
RIN: 3235-AL96
SECURITIES AND EXCHANGE COMMISSION (SEC)
Division of Corporation Finance
Completed Actions
550. Modernization of Rules and Forms for Compensatory Securities
Offerings and Sales
Legal Authority: 15 U.S.C. 77bb
Abstract: The Division is considering recommending that the
Commission adopt rule amendments to Securities Act Rule 701, the
exemption from registration for securities issued by non-reporting
companies pursuant to compensatory arrangements, and Form S-8, the
registration statement for compensatory offerings by reporting
companies. This item is being withdrawn.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
ANPRM............................... 07/24/18 83 FR 34958
[[Page 5385]]
ANPRM Comment Period End............ 09/24/18
NPRM................................ 12/11/20 85 FR 80232
NPRM Comment Period End............. 02/09/21
Withdrawn........................... 09/30/21
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Anne M. Krauskopf, Division of Corporation Finance,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549, Phone: 202 551-3500, Email: <a href="/cdn-cgi/l/email-protection#0a61786b7f7961657a6c6b4a796f69246d657c"><span class="__cf_email__" data-cfemail="0e657c6f7b7d65617e686f4e7d6b6d20696178">[email protected]</span></a>.
RIN: 3235-AM38
SECURITIES AND EXCHANGE COMMISSION (SEC)
Division of Investment Management
Proposed Rule Stage
551. Reporting of Proxy Votes on Executive Compensation and Other
Matters
Legal Authority: 15 U.S.C. 78m; 15 U.S.C. 78w(a); 15 U.S.C. 78mm;
15 U.S.C. 78x; 15 U.S.C. 80a-8; 15 U.S.C. 80a-29; 15 U.S.C. 80a-30; 15
U.S.C. 80a-37; 15 U.S.C. 80a-44; Pub. L. 111-203, sec. 951
Abstract: The Division is considering recommending that the
Commission repropose rule amendments to implement section 951 of the
Dodd-Frank Act and to enhance the information reported on Form N-PX.
The Commission previously proposed amendments to rules and Form N-PX
that would require institutional investment managers subject to section
13(f) of the Exchange Act to report how they voted on any shareholder
vote on executive compensation or golden parachutes pursuant to
sections 14A(a) and (b) of the Exchange Act.
Timetable:
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Action Date FR Cite
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NPRM................................ 10/28/10 75 FR 66622
NPRM Comment Period End............. 11/18/10
NPRM................................ 11/00/21
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Pamela Ellis, Division of Investment Management,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549, Phone: 202 551-3506, Email: <a href="/cdn-cgi/l/email-protection#157079797c6665556670763b727a63"><span class="__cf_email__" data-cfemail="b2d7dededbc1c2f2c1d7d19cd5ddc4">[email protected]</span></a>.
RIN: 3235-AK67
SECURITIES AND EXCHANGE COMMISSION (SEC)
Division of Investment Management
Final Rule Stage
552. Tailored Shareholder Reports, Treatment of Annual Prospectus
Updates for Existing Investors, and Improved Fee and Risk Disclosure
for Mutual Funds and ETFS; Fee Information in Investment Company Ads
Legal Authority: 15 U.S.C. 77e ; 15 U.S.C. 77g; 15 U.S.C. 77j; 15
U.S.C. 77s; 15 U.S.C. 78c(b); 15 U.S.C. 77f; 15 U.S.C. 78j; 15 U.S.C.
78m; 15 U.S.C. 78n; 15 U.S.C. 78o; 15 U.S.C. 78mm; 15 U.S.C. 80a-6; 15
U.S.C. 80a-8; 15 U.S.C. 80a-20; 15 U.S.C. 80a-24; 15 U.S.C. 80a-29; 15
U.S.C. 80a-37; 44 U.S.C. 3506; 44 U.S.C. 3507
Abstract: The Division is considering recommending that the
Commission adopt a new streamlined shareholder report under the
Investment Company Act of 1940. The Division is also considering
recommending that the Commission adopt rule and form amendments to
improve and modernize certain aspects of the current disclosure
framework under the Investment Company Act.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 11/05/20 85 FR 70716
NPRM Comment Period End............. 01/04/21
Final Action........................ 10/00/22
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Michael Kosoff, Division of Investment Management,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549, Phone: 202 551-6754, Email: <a href="/cdn-cgi/l/email-protection#543f3b273b323239142731377a333b22"><span class="__cf_email__" data-cfemail="d5bebaa6bab3b3b895a6b0b6fbb2baa3">[email protected]</span></a>.
RIN: 3235-AM52
SECURITIES AND EXCHANGE COMMISSION (SEC)
Division of Investment Management
Long-Term Actions
553. Amendments to the Custody Rules for Investment Advisers
Legal Authority: 15 U.S.C. 80a-6(c); 15 U.S.C. 80a-17)(f); 15
U.S.C. 80a-26; 15 U.S.C. 80a-28; 15 U.S.C. 80a-29; 15 U.S.C. 80a-30; 15
U.S.C. 80a-37(a); 15 U.S.C. 80a-30; 15 U.S.C. 80a-31; 15 U.S.C. 80a-36;
15 U.S.C. 80a-37; 15 U.S.C. 80b-4; 15 U.S.C. 80b-6(4); 15 U.S.C 80b-
11(a); 15 U.S.C. 80b-3(c)(1); 15 U.S.C. 80b-18b
Abstract: The Division is considering recommending that the
Commission propose amendments to existing rules and/or propose new
rules under the Investment Advisers Act of 1940 to improve and
modernize the regulations around the custody of funds or investments of
clients by Investment Advisers.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
Next Action Undetermined............ To Be Determined
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Melissa Harke, Division of Investment Management,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549, Phone: 202 551-6722, Email: <a href="/cdn-cgi/l/email-protection#620a031009070f221107014c050d14"><span class="__cf_email__" data-cfemail="fe969f8c959b93be8d9b9dd0999188">[email protected]</span></a>.
RIN: 3235-AM32
554. Amendments to the Custody Rules for Investment Companies
Legal Authority: 15 U.S.C. 80a-6(c); 15 U.S.C. 80a-17(f); 15 U.S.C.
80a-26; 15 U.S.C. 80a-28; 15 U.S.C. 80a-29; 15 U.S.C. 80a-30; 15 U.S.C.
80a-31; 15 U.S.C. 80a-36; 15 U.S.C. 80a-37; 15 U.S.C. 80a-37(a)
Abstract: The Division is considering recommending that the
Commission propose amendments to rules concerning custody under the
Investment Company Act of 1940.
Timetable: Next Action Undetermined.
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Bradley Gude, Special Counsel, Securities and
Exchange Commission, 100 F Street NE, Washington, DC 20549, Phone: 202
551-5590, Email: <a href="/cdn-cgi/l/email-protection#e88f9d8c8d8aa89b8d8bc68f879e"><span class="__cf_email__" data-cfemail="d1b6a4b5b4b391a2b4b2ffb6bea7">[email protected]</span></a>.
RIN: 3235-AM66
555. Amendments To Improve Fund Proxy System
Legal Authority: 15 U.S.C. 78m; 15 U.S.C. 78w; 15 U.S.C. 78mm; 15
U.S.C. 80a-2; 15 U.S.C. 80a-6; 15 U.S.C. 80a-20; 15 U.S.C. 80a-30; 15
U.S.C. 80a-37
Abstract: The Division is considering recommending that the
Commission propose rule and form amendments to address the fund proxy
system and the unique challenges that funds as issuers may experience
in seeking shareholder approvals.
Timetable: Next Action Undetermined.
Regulatory Flexibility Analysis Required: Yes.
[[Page 5386]]
Agency Contact: Amanda Wagner, Branch Chief, Investment Company
Regulation Office, Securities and Exchange Commission, Division of
Investment Management, 100 F Street NE, Washington, DC 20549, Phone:
202 551-6762, Email: <a href="/cdn-cgi/l/email-protection#addacccac3c8dfcceddec8ce83cac2db"><span class="__cf_email__" data-cfemail="4c3b2d2b22293e2d0c3f292f622b233a">[email protected]</span></a>.
RIN: 3235-AM73
SECURITIES AND EXCHANGE COMMISSION (SEC)
Division of Investment Management
Completed Actions
556. Amendments to Rule 17a-7 Under the Investment Company Act
Legal Authority: 15 U.S.C. 80a-6(c); 15 U.S.C. 80a-10(f); 15 U.S.C.
80a-17(d); 15 U.S.C. 80a-37(a)
Abstract: The Division was considering recommending that the
Commission propose amendments to rule 17a-7 under the Investment
Company Act of 1940 concerning the exemption of certain purchase or
sale transactions between an investment company and certain affiliated
persons. This item is being withdrawn.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
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Withdrawn........................... 09/30/21
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Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Adam Lovell, Senior Counsel, Securities and
Exchange Commission, 100 F Street NE, Washington, DC 20549, Phone: 202
551-6637, Email: <a href="/cdn-cgi/l/email-protection#462a2930232a2a270635232568212930"><span class="__cf_email__" data-cfemail="35595a4350595954754650561b525a43">[email protected]</span></a>.
RIN: 3235-AM69
SECURITIES AND EXCHANGE COMMISSION (SEC)
Division of Trading and Markets
Proposed Rule Stage
557. Removal of References to Credit Ratings From Regulation M
Legal Authority: Pub. L. 111-203, sec. 939A
Abstract: Section 939A of the Dodd Frank Act requires the
Commission to remove certain references to credit ratings from its
regulations and to substitute such standards of creditworthiness as the
Commission determines to be appropriate. The Division is considering
recommending that the Commission propose to eliminate the exceptions
for investment grade non-convertible debt, non-convertible preferred,
and asset-backed securities (as rated by at least one Nationally
Recognized Statistical Rating Organization) from Rules 101 and 102 of
Regulation M.
Timetable:
------------------------------------------------------------------------
Action Date FR Cite
------------------------------------------------------------------------
NPRM................................ 05/06/11 76 FR 26550
NPRM Comment Period End............. 07/05/11
Final Action........................ 01/08/14 79 FR 1522
Final Action Effective.............. 07/07/14
NPRM................................ 12/00/21
------------------------------------------------------------------------
Regulatory Flexibility Analysis Required: Yes.
Agency Contact: John Guidroz, Division of Trading and Markets,
Securities and Exchange Commission, 100 F Street NE, Washington, DC
20549, Phone: 202 551-6439, Email: <a href="/cdn-cgi/l/email-protection#afc8dac6cbddc0d5c5efdccacc81c8c0d9"><span class="__cf_email__" data-cfemail="b1d6c4d8d5c3decbdbf1c2d4d29fd6dec7">[email protected]</span></a>.
RIN: 3235-AL14
[FR Doc. 2021-27952 Filed 1-28-22; 8:45 am]
BILLING CODE 8011-01-P
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