SEC Alert! Equitable Financial To Pay $50 Million Penalty To Settle SEC Charges That It Provided Misleading Account Statements to Investors
Source: https://www.sec.gov/news/press-release/2022-124
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DTC Alert! Elimination of Email Notifications of Client Short Positions
Source
The Depository Trust Company (“DTC”) will eliminate notifications on client short positions via email, effective January 1, 2023. Background When clients incur short positions, DTC imposes a hold of 130% of the value of the short position until the short position is covered. Historically, DTC has sent an email
SEC Alert! Jaime Lizárraga Sworn In as SEC Commissioner.
Source: https://www.sec.gov/news/press-release/2022-123
Commissioner Lizárraga most recently served as Senior Advisor to House Speaker Nancy Pelosi. In that role, Commissioner Lizárraga oversaw issues related to financial markets, small business, international finance, and immigration. He also served as Speaker Pelosi’s liaison to, and worked closely
SEC Alert! SEC today announced awards totaling more than $6 million to two whistleblowers who provided critical information and assistance in two separate covered actions.
Source: https://www.sec.gov/news/press-release/2022-122
In the first order, the SEC issued an award of more than $3 million to a whistleblower who was solicited to invest in a product that they believed was being misrepresented. The individual expeditiously alerted the SEC to the potential misconduct, which
NSCC Alert! Notice of Filing of Proposed Rule Change to Adopt Intraday Volatility Charge and Eliminate Intraday Backtesting Charge.
SR-NSCC-2022-009
34-95286Additional Materials: Exhibit 5
* Submit Comments on SR-NSCC-2022-009
Purpose
NSCC is proposing to enhance its Clearing Fund methodology by implementing an intraday volatility charge that may be collected by NSCC to mitigate the risks presented by Members’ adjusted intraday Net Unsettled Positions and Net Balance Order Unsettled Positions (“Net
DTC Alert Can Kick Alert! Notice of Designation of Longer Period for Commission Action on a Proposed Rule Change to Amend the Stress Testing Framework and Liquidity Risk Management Framework
34-95282
34-95080
Additional Materials: Exhibit 3, Exhibit 5a and 5b
Comments received are available for this proposal.
What mean?
The proposed rule change consists of amendments to the Clearing Agency Stress Testing Framework (Market Risk) (“ST Framework”) and the Clearing Agency Liquidity Risk Management Framework (“LRM Framework,” and, together with
SEC Alert! Commissioner Hester M. Peirce is against today's proposed rules that govern when public companies must include shareholder proposals in their proxy statements. Is anyone surprised by her position?
Source: https://www.sec.gov/news/statement/peirce-statement-proxy-voting-advice-071322
I appreciate the staff’s diligence, graciousness, professionalism, and hard work throughout this rulemaking process. Staff’s valuable time, however, could have been put to better use. For example, staff could have worked immediately on addressing outstanding issues around proxy plumbing and,