SEC Rule 10b-5

SEC3 Compliance is monitoring the SEC's proposal to rescind Advisers Act Rule 206(4)-5, commonly known as the "pay-to-play" rule. If adopted, the proposal would eliminate the rule's prescriptive political contribution restrictions and give investment advisers greater flexibility to address pay-to-play risks through their broader compliance programs.

The meeting will be held at 10am ET, open to the public, and offered via webcast on the SEC’s website.

The number of US initial public offerings increased 16% year over year, while proceeds raised climbed nearly 400%, according to DERA.

Our in-brief roundup of notable stories from the last week.

A standardized annual review that does not account for the adviser's actual activities, conflicts, and regulatory risks may fail to identify the types of issues highlighted by the SEC.

A new SEC-FDA information-sharing agreement could accelerate probes into disclosures, insider trading claims, and regulatory statements.

With the CLARITY Act blocked, the Commission is granting temporary and conditional exemptive relief for on-chain securities trading.

Discussion on the shift to extended hours trading, from the operational to security and surveillance challenges, plus investor and market opportunities.