SEC Approves Final and Proposed Rules in Latest Open Meeting
Washington DC--(Newsfile Corp. - June 28, 2018) - The Securities and Exchange Commission today voted on several final rules and rule proposals that together represent material progress toward many Commission priorities.
“Over the past year, I have been increasingly impressed by the breadth of expertise at the SEC, and the diversity of topics the Commission considered today is proof of that,” said Chairman Clayton. “Commission staff is actively working on issues that touch all corners of our marketplace, including, importantly, our Main Street investors. I am pleased that we are making steady, thoughtful progress on many of the Commission initiatives detailed on our regulatory flexibility agenda. I cannot thank the staff enough for their dedication. Our capital markets are ever changing and the staff is committed to taking action to ensure that, as they have been for the past 80 years, they remain the best markets for investors, issuers, and our economy.”
The Commission today approved:
- Adoption of amendments to modernize the definition of “smaller reporting company,” which was established in 2008. The full release on these amendments can be found here.
- Adoption of amendments to require the use of the Inline XBRL format in certain filings, which were proposed in 2017 and has been under study for many years. The full release on these amendments can be found here.
- A proposal that would permit certain exchange-traded funds to operate without first obtaining a fund-specific exemptive order from the Commission, which is a process that has not changed since the first ETF was approved in 1992. The full release on this proposal can be found here.
- Adoption of amendments related to disclosures of liquidity risk management for open-end funds, which were proposed earlier this year. The full release on these amendments can be found here.
- A proposal to amend rules that govern the Commission’s whistleblower program. It has been seven years since these rules were adopted. The full release on this proposal can be found here.
An archived webcast of the meeting will be available on sec.gov.