Most notably, the proposed rules would require current disclosure of material Here are the key takeaways: What Happened. 7. The Proposed Rule is open to public comment until May 20, 2022, or until 30 days after publication in the Federal Register, whichever occurs later. 2 SEC PROPOSES NEW CYBERSECURITY DISCLOSURE RULES. The proposed rule has a 60-day comment period which ends May 20, 2022. On February 9, 2022, the SEC published a release addressing Cybersecurity Risk Management for Investment Advisers, Registered Investment Companies, and Business Development Companies ("Release"). Based on the compliance dates noted in the proposal, the current expectation is that the SEC will adopt the final rules with an effective date in December 2022. The SEC extended the period for Commission consideration of a FINRA proposal to require TRACE reporting of transactions in U.S. dollar-denominated foreign sovereign debt securities. On March 20, 2019, the Securities and Exchange Commission (SEC) proposed rules that would modify the registration, communications and offering processes for certain closed-end funds (CEFs), including interval funds, and business development companies (BDCs), under the Securities Act of 1933, as amended (Securities Act). Cyber risks and the SEC's related focus are particularly relevant for mutual funds, hedge funds, and private equity managers. After a year of anticipation, on March 21 the SEC proposed a sweeping climate disclosure regime for public companies in a 3-1 vote with the sole Republican commissioner issuing a separate dissenting statement.In the words of the majority, the proposed rules are designed to provide registrants with a more standardized framework to communicate their [1] Special Purpose Acquisition Companies, Shell Companies, and Projections, Securities Act Release No. On October 27, 2021, the FTC released its much-anticipated final revisions to the Gramm-Leach-Bliley Safeguards Rule (Safeguards Rule or Final Rule), following a 3-2 vote along party lines and also released a notice of proposed rulemaking that would require reporting to the FTC of certain cybersecurity events. Improving Detection of Cybersecurity Vulnerabilities and Incidents on Federal Government Networks. In Short. On February 9, 2022, the Securities Exchange Commission (the SEC) proposed new rules, rule amendments, and a new Form ADV-C (the Proposed Rules) under the Investment Advisers Act of 1940 (the Advisers Act) that seek to further regulate investment advisers to private funds in a significant way. The fate of some of these proposed rules may March 4, 2022. SEC Proposes Mandatory Cybersecurity Disclosures March 22, 2022 The US Securities and Exchange Commission has proposed new rules and amendments to mandate disclosure regarding cybersecurity risk management, strategy, governance, and incident reporting, including amendments to Form 8-K, Form 10-Q and Form 10-K. The SEC has proposed sweeping rules that would require most public companies to make extensive disclosures about climate change. Executive Summary. The comment period will be open until the later of 30 days after the proposing release is published in the Federal Register or May 20, 2022 (60 days from the date that the rules were proposed). Climate-related risks have financial consequences that investors in public companies consider when making investment and voting decisions. The second part of the proposal is new reporting requirements on a companys Form 10-K. Itd require them to include cybersecurity Driven by investor demand for consistent and comparable information regarding an issuers climate-related risks, the SEC issued proposed rule 33-11042, The Enhancement and Standardization of Climate-Related The Release contained proposed new rules under the Advisers Act (Rules 206(4)-9 and 204-6) and the Investment Company Act of 1940 (Rule 38a-2) S7-04-22 Cybersecurity Risk Management for Investment Advisers, Registered Investment Companies, and Business Development Companies. All seven of these GHG emissions come within the scope of the SECs proposed rules. Please use this opportunity to take part in our affairs by voting on the business to come before the Annual Meeting.We expect to mail this proxy statement to our stockholders on or about June 13, 2022.Only stockholders of record at the close of business on June 10, 2022 may vote at the Annual Meeting and any postponements or adjournments of the meeting. According to the SECs release, the amendments [1] SEC Proposed Rule Release No. IC-34549 (proposed Mar. On December 15, 2020, the Board of Governors of the Federal Reserve System (FRB), the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) (collectively, the Agencies) issued a proposed rule (Proposed Rule) that would impose new notification requirements for significant cybersecurity incidents. Revisions to the Safeguards Rule (2) A GENCY.The term agency has the meaning given the term in section 3502 of title 44, United States Code. After a May 9 extension, comments on the proposal are due on June 17. Chair of the Commission Gary Gensler emphasized that the proposal would Three months ago, the U.S. Securities and Exchange Commission (SEC) proposed amendments to its rules on cybersecurity risk management, strategy, governance and incident reporting by public companies subject to the reporting requirements of the Securities Exchange Act of 1934. technology and electronic communications.3 In todays digitally connected world, cybersecurity threats and incidents pose an ongoing and escalating risk to public companies, investors, and market participants.4 Cybersecurity risks have increased for a variety of reasons, including the digitalization of registrants operations;5 the prevalence of remote work, which "Over the years, our disclosure regime has evolved to reflect evolving risks and investor needs," Dear Secretary Countryman: The SEC is providing notice that public companies may file financial data in XBRL with their first annual report on Form 20-F or 40-F for the fiscal period ending on or after Dec. 15, 2017. The Proposed Rules passed with votes of three to one, with Three months ago, the U.S. Securities and Exchange Commission (SEC) proposed amendments to its rules on cybersecurity risk management, strategy, governance and incident reporting by public companies subject to the reporting requirements of the Securities Exchange Act of 1934. SEC Chairman Gary Gensler says the disclosures required by the proposed rules would help investors make apples-to-apples comparisons. The SEC is soliciting comments on the proposed rules. In November 2019, the SEC proposed amendments to its advertising and cash solicitation rules for SEC-registered advisers under the Investment Advisers Act. On March 9, 2022, the U.S. Securities Exchange Commission (the Commission) announced proposed amendments to its rules regarding cybersecurity risk management, strategy, governance, and incident reporting by public companies to enhance and standardize disclosures.. Compliance date: May 1, 2022. On March 9, 2022, the Securities and Exchange Commission (SEC) proposed rules that would require disclosure of the occurrence of, and developments related to, material cybersecurity incidents. As proposed, new disclosures would be required for all public companies and would include certain climate-related financial metrics in the audited financial statements. After a year of anticipation, on March 21 the SEC proposed a sweeping climate disclosure regime for public companies in a 3-1 vote with the sole Republican commissioner issuing a separate dissenting statement. The growing number and complexity of cybersecurity risks facing investment advisers (IAs) has triggered an increased interest in cyber risk management by the United States Securities and Exchange Commission (SEC). On March 9, 2022, the U.S. Securities and Exchange Commission (SEC) proposed new cybersecurity rules to enhance and standardize disclosures regarding cybersecurity risk management, strategy, governance, and incident reporting by public companies. The SEC staff will then review all comments and draft final rules for vote by the Commissioners. Proposed EU Directive would impact US companies (PDF) For more information, please contact: Michael Maekawa | +1 213-955-8331 | The Securities and Exchange Commission today voted to propose rules related to cybersecurity risk management for registered investment advisers, and registered investment companies and business development companies (funds), as well as amendments to certain rules that govern investment adviser and fund disclosures. On February 9, 2022, the SEC published a release addressing Cybersecurity Risk Management for Investment Advisers, Registered Investment Companies, and Business Development Companies ("Release"). The Securities and Exchange Commission today voted to propose rules related to cybersecurity risk management for registered investment advisers, and registered investment companies and business development companies (funds), as well as amendments to certain rules that govern investment adviser and fund disclosures. Three months ago, the U.S. Securities and Exchange Commission (SEC) proposed amendments to its rules on cybersecurity risk management, strategy, governance and incident reporting by public companies subject to the reporting requirements of the Securities Exchange Act of 1934. On February 9, 2022, the U.S. Securities and Exchange Commission (SEC) proposed five new rules as well as amendments to Rules 204-2 and 206(4)-7 under the Investment Advisers Act of 1940, as amended (the Advisers Act). Comments are due May 9, 2022. Targeted revisions to the EUs expanded sustainability reporting proposals include deferring the effective date. (a) The Federal Government shall employ all appropriate resources and authorities to maximize the early detection of cybersecurity vulnerabilities and incidents on its networks. The SEC proposed three new rules relating to security-based swaps: (1) an anti-fraud rule, (2) a rule to require reporting of large positions in security-based swaps, and (3) a rule prohibiting personnel of an SBS entity from taking any action to improperly interfere with the SBS entity's CCO in the performance of such person's duties.. New SEA Rule 9j-1 (being re-proposed On March 22, 2022, the U.S. Securities and Exchange Commission (SEC) released the long-anticipated proposed rule: The Enhancement and Standardization of Climate-Related Disclosures for Investors. Financial advisors today are presented with two abysmal options when it comes to meeting SEC cybersecurity requirements: Option 1: Hire mercenaries to fight on your behalf. Although disclosure requirements currently vary for domestic and foreign registrants, the proposal would amend the requirements for FPIs to provide consistent cybersecurity disclosures for all registrants. The Division first issued proposed cybersecurity rules in April, and made several changes to the final version after accepting comments and holding a public hearing in early May. Items have been prepared primarily by OCC. This is in addition to originally disclosing the incident within four business days of the material determination.

Financial Industry Regulatory Authority, Inc. (FINRA) is filing with the Securities and Exchange Commission (SEC or Commission) a proposed rule change to extend the effective date of the temporary amendments set forth in SR-FINRA-2020-026 from December 31, 2020, to April 30, 2021. The Proposed Risk Management Rules would require advisers and registered funds to review their cybersecurity policies and procedures no less frequently than annually and reassess and reprioritize their cybersecurity risks periodically as changes that affect these risks occur, rather than at specified intervals. The text of the proposed rules is available here. Key impacts The SEC issued a Fact Sheet summarizing the key provisions of the proposed rules. Like the recently-proposed cybersecurity amendments, but unlike many SEC rulemaking actions in recent years, the proposed climate Based on the compliance dates noted in the proposal, the current expectation is that the SEC will adopt the final rules with an effective date in December 2022. Among the proposed changes are: Re: File No. The SEC is comprised of classes of employees who have any of 22 specified cancers, who worked for a specified period of time at one of the SEC Work Sites or participated in certain nuclear weapons tests, and who meet other additional requirements under The Act. If adopted Interested parties can submit comments here.

Less than a month after the U.S. Securities and Exchange Commission (SEC) proposed substantial new cybersecurity requirements for investment advisers and registered investment companies, the commission unveiled a new slate of proposed cybersecurity disclosure rules for public companies. Compliance would be keyed off of the number of fiscal years following the effective date of the rules. Companies would be required to tag the new disclosures described below using iXBRL. On March 30, 2022, the Securities and Exchange Commission (the SEC) proposed a set of rules and amendments governing special purpose acquisition companies (SPACs) that will, if adopted, impose significant new regulatory hurdles for SPAC-related transactions, as well as expand potential bases for liability. 3 FINRA's Funding Portal Rules will become effective on January 29, 2016, which aligns with The Commission will then vote on final rules, and any adopted rule will include the applicable effective date. 33-11048; Investment Company Act Release No. The SEC would grant covered exchanges a grace period, during which they can operate provisionally until the earlier of either: (1) the date the entity registers as a broker-dealer and becomes a member of a national securities association, or (2) 210 calendar days after the effective date of any final rule. The U.S. Securities and Exchange Commission (SEC) has proposed amendments that would require domestic and foreign companies to include certain climate-related information in registration statements and periodic reports. (b) Effective date.This section shall apply (1) on and after the date that is 1 year after the date of enactment of the Federal Information Security Modernization Act of 2022; and (2) with respect to any contract entered into on or after the date described in paragraph (1). Like the recently-proposed cybersecurity amendments, but unlike many SEC rulemaking actions in recent years, the proposed climate The new Form SR would require issuers to identify the class and total amount of securities purchased, the average price paid, and whether the amounts were repurchased in reliance on the safe harbor found in Exchange Act Rule 10b-18 or pursuant to a Rule 10b5-1 plan. The Potential Result: If adopted as proposed, the amendments would, among On March 21, 2022, the Securities and Exchange Commission (SEC) issued a highly-anticipated Proposed Rule that proposes to require public companies to disclose climate-related risks in their registration statements and annual reports filed with the SEC. Below please find a summary description of the rule proposal, as well as certain Commissioners concerns related to the proposal. Submitted electronically via SEC.gov. On March 9, 2022, the Securities and Exchange Commission (SEC) proposed rules that are intended to enhance and standardize disclosures regarding cybersecurity risk management, strategy and governance, as well as cybersecurity incident reporting, by public companies that are subject to the reporting requirements of the Securities Exchange Act of On February 10, 2022, the Securities and Exchange Commission (SEC) proposed two amendments to Rules 21F-3 and 6 under the Securities Exchange Act of 1934 (Exchange Act), which govern how the SEC issues rewards to whistleblowers under its whistleblower program, to account for potential disparate treatment. Comments are due within 30 days of posting to the Federal Register, or May 9, 2022, whichever is later. The SEC issued a Fact Sheet summarizing the key provisions of the proposed rules. The cybersecurity disclosure guidance issued by the SEC staff in 2011 and by the Commission in 2018 would supplement the proposed rules, if adopted. The Situation: On March 9, 2022, the U.S. Securities and Exchange Commission (the "SEC") proposed amendments to enhance and standardize disclosures regarding cybersecurity risk management, strategy, governance, and incident reporting by public companies.