Earlier this year, the Securities and Exchange Commission proposed a new rule establishing a standard of conduct for broker-dealers and natural persons who are associated persons of a broker-dealer when making a recommendation of any securities...
Recently, Securities and Exchange Commission Chairman Jay Clayton released a public statement emphasizing that "all staff statements are nonbinding and create no enforceable legal rights or obligations of the Commission or other parties." The...
The federal Administrative Procedure Act is both straightforward and general. It defines a "rule" as "the whole or a part of an agency statement of general or particular applicability and future effect designed to implement, interpret, or prescribe...
In this post from July 2016, I took the Securities and Exchange Commission to task for adding Item 16 to Form 10-K as an "Interim Final Rule". As I then explained, Interim Final Rules constitute an end-run on the notice and comment requirements of...
Nearly one year ago, the California Department of Business Oversight proposed regulations to implement the provisions of AB 667 (Wagner). The bill, which was enacted in 2015 and took effect last year, created a new exemption from the broker-dealer...
AB 667, Administrative Procedure, Administrative Procedure Act, broker-dealer, Broker-Dealers, Department of Business Oversight, exemption, finders, Office of Administrative Law, Seciton 11349.3, Section 11346.4
Title I of the Jumpstart Our Business Startups (aka JOBS) Act amended the Securities Act and the Exchange Act to provide some regulatory relief to issuers that qualify as an "emerging growth company". Recently, the Securities and Exchange...
Administrative Procedure, Administrative Procedure Act, AP, Form 10-K, Form 10-Q, public notice, SEC, Section 553, Securities and Exchange Commission
Keith Paul Bishop
