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SEC adopts rules requiring the reporting of securities loans and the disclosure of short sales

On October 13, 2023, the Securities and Exchange Commission (SEC) adopted new Rule 10c-1a under the Securities Exchange Act of 1934, as amended (1934 Act), requiring certain persons to report securities loan information to...more

SEC adopts new rules to expand public company disclosure relating to cybersecurity by year end

On July 26, 2023, the US Securities and Exchange Commission (SEC) released final rules requiring disclosure by public companies of material cybersecurity incidents and policies and procedures related to cybersecurity risk...more

SEC amends Rule 10b5-1 and revamps affirmative defense to insider trading charges

The Securities and Exchange Commission (SEC) has unanimously adopted amendments to Rule 10b5-1 (the Rule), which prohibits the purchase or sale of securities on the basis of material nonpublic information (MNPI) in violation...more

XBRL reporting rules for BDCs come into effect as SEC adopts new electronic filing requirements

On August 1, 2022, the SEC’s structured data reporting rules governing business development companies will become effective. These rules, which were originally adopted in April 2020, require BDCs to tag certain submissions...more

SEC extends flexibility due to COVID-19

On March 25, 2020, the Securities and Exchange Commission (SEC) issued several orders (the Orders) under the Securities Exchange Act of 1934 (the “Exchange Act”), the Investment Company Act of 1940 (the 1940 Act) and the...more

COVID-19 - The SEC acts quickly

On Wednesday, March 4, 2020, the Securities and Exchange Commission (SEC) issued two statements intended to ease certain corporate governance and reporting obligations in light of the coronavirus disease 2019 (COVID-19). The...more

Not so FAST – SEC passes rules to implement FAST Act provisions

On March 20, 2019, the SEC adopted rules (the Rules) to implement certain provisions of the FAST Act. The omnibus highway bill called “Fixing America’s Surface Transportation Act” or the “FAST Act,” was signed into law in...more

The SEC prunes its disclosure rules and forms, but will the changes bear fruit for registered investment companies and BDCs?

The US Securities and Exchange Commission (SEC) has adopted final rules to eliminate “redundant, duplicative, overlapping, outdated, or superseded” disclosure requirements in light of other SEC disclosure requirements and US...more

M&A Brokers Exempt from SEC Broker-Dealer Registration Requirements

On January 31, 2014, the U.S. Securities and Exchange Commission’s (SEC) Division of Trading and Markets issued a No-Action Letter (Letter)1 that allows a private business broker (M&A Broker) to receive transaction-based...more

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