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On December 18, the Securities and Exchange Commission voted to propose amendments (the Proposal) to the definition of “accredited investor” for purposes of private placements under Regulation D and the definition of “qualified institutional buyer” in Rule 144A under the Securities Act of 1933. The Proposal is intended to update and improve the definitions of those terms in order to more effectively identify both institutional and individual investors with the sophistication to participate in private…
On December 18, the Securities and Exchange Commission adopted some amendments to its rules concerning the cross-border application of certain security-based swap requirements under the Securities Exchange Act of 1934 and issued a statement that it will be allowing some time-limited relief for reporting parties when security-based swap reporting goes into effect.…
The Commodity Futures Trading Commission (CFTC) will hold an open meeting on Monday, November 25 at 10:00 a.m. EST to discuss (1) Final Rules amending CFTC Rules 4.5, 4.7, 4.13, 4.14 and 4.27; and (2) a Proposed Rule amending swap clearing requirement exemptions under Part 50 of the Commodity Exchange Act. The meeting is open to the public on a first-come, first-served basis, as well as via live webcast and via conference call. More information,…
On October 11, the leaders of the Commodity Futures Trading Commission (CFTC), the Financial Crimes Enforcement Network (FinCEN), and the Securities and Exchange Commission (collectively, the Agencies) issued a joint statement reminding persons engaged in activities involving digital assets of their anti-money laundering (AML) and countering the financing of terrorism (CFT) obligations under the Bank Secrecy Act of 1970 (BSA).…
On October 9, the Securities and Exchange Commission announced the formation of its Asset Management Advisory Committee. The committee will provide the SEC with diverse perspectives on asset management and related advice and recommendations. Topics the committee may address include trends and developments affecting investors and market participants, the effects of globalization, and changes in the role of technology and service providers.…