- The SEC has scheduled a meeting to consider asking for additional comments on three previously issued rule proposals for financial swaps. The proposed rules deal with capital and margin requirements and international regulation.
- The SEC issued interpretive guidance to explain its requirements for broker-dealers and funding portals, the online agents that sell crowdfunding investments. The guidance covers the restrictions on intermediaries with regard to their financial interest in an issuer of crowdfunding securities. It also explains the steps intermediaries have to take to reduce the risk of fraud.
- SEC Commissioner Kara Stein said the market regulator may need to begin issuing rules to ensure that the financial markets are adequately safeguarding investor information. Stein also said a lot of the responsibility for protecting the financial markets and U.S. businesses lies with boards of directors and that directors should fulfill this responsibility by interacting with management on a more regular basis and with a more detailed agenda.
- The SEC’s Investor Advisory Committee (IAC) endorsed the commission’s plan to conduct a pilot test with revised pricing restrictions on the transaction fees stock exchanges charge to encourage trading. The SEC wants to assess how the pricing restrictions and fees affect trading on U.S. stock markets.
- The FASB has stepped up its efforts to answer the inquiries businesses and not-for-profits have had about the major standards it has published in recent years. Now the board is trying to ensure that financial reporting professionals are able to access this informal guidance in a consistent way.