- President Donald Trump signed an executive order requiring any executive agency seeking to issue a new rule to target two existing rules for elimination. The order’s effect on the SEC remains unclear.
- The SEC approved the fees the FASB uses from public companies to support its operations. The Sarbanes-Oxley Act of 2002 established the accounting support fee for the PCAOB and FASB to keep the standard-setters independent of the firms and companies that follow their rules and standards.
- The House of Representatives voted to nullify an SEC rule requiring publicly listed oil, gas, and mining companies to disclose payments made to the U.S. and foreign governments. The action, which takes advantage of the Congressional Review Act, is part of a broader push by a GOP-controlled Congress and White House to roll back Obama-era regulation.
- For the second time in two weeks, the SEC’s acting chair asked the agency’s staff to review a Dodd-Frank Act rule public companies are in the process of complying with. Called the pay-ratio disclosure rule, it was bitterly attacked at the time of its adoption by the companies that have to follow it, despite the strong support shareholder rights advocates expressed for it.
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