The Securities and Exchange Commission (“SEC”) scheduled an open meeting for October 26, 2022 at 10:00 am ET to consider several matters.
The SEC will consider whether to adopt rules to implement Section 10D of the Securities Exchange Act of 1934, which includes “clawback” standards on national securities exchanges, as proposed by the SEC in 2015. Section 10D is added to the Exchange Act by Section 954 of the Dodd-Frank Wall Street Reform and Consumer Protection Act. For additional information on the SEC’s 2015 Proposal, see our Legal Update, “US SEC Proposes Compensation Clawback Listing Standards Requirement.” For additional information on the SEC’s most recent Clawback Comment Period, see our blog post, “SEC Reopens Clawback Comment Period…Again,” dated June 9, 2022.
The SEC also will vote on whether to adopt rule and form amendments that would require “concise and visually engaging” annual and semi-annual shareholder reports for mutual funds and ETFs. The SEC will also consider whether to amend the advertising rules for investment companies and BDCs.
Finally, the SEC will consider whether to propose a new rule under the Investment Advisers Act of 1940 to establish minimum oversight standards for registered investment advisers that outsource certain services, and consider proposing amendments to the related recordkeeping and Form ADV reporting requirements.
See the meeting agenda. The meeting will be webcast on the SEC’s website. Stay tuned.