SEC Issues

  • Here are issues FSI has recently been involved in at the U.S. Securities & Exchange Commission:

  • 12b-2 FAQs
    Agencies Release Final Model Privacy Notice

    November 18, 2009

    On November 17, 2009, the Office of the Comptroller of the Currency, Office of Thrift Supervision, and Exchange Commission (collectively, the Agencies) released the final version of the model privacy notice form.  FSI submitted a comment letter in response to the Agencies’ draft version of the model privacy notice form on May 29, 2009.

    Call to Action and Detailed Summary of Proposal
    Call to Action on Proposed Changes to Rule 12b-1
    October 28, 2010

    On July 21, 2010, the Securities and Exchange Commission (SEC) released a proposed rule and other amendments designed to reform Rule 12b-1 (Proposal) and make additional changes to the securities laws.

    Chairman Cox Responds to FSI’s Comments on Auction Rate Securities
    October 2008

    Over the last several months a number of wirehouse broker-dealer firms have agreed to reimburse investors after settling with state and federal regulators on claims arising from the underwriting practices, auction process, offer, and sale of auction rate securities (ARS).

    Changes to 12b-1 Fees Proposed
    September 15, 2010

    The proposal offered by the SEC provides a new framework for mutual fund use of assets to pay for sales and distribution expenses, and would revise disclosure requirements for transaction confirmations.

    Comment Letter Regarding Rule 12b-1
    Congress Provides Guidance to the SEC Regarding Municipal Advisor Regulation

    Congress Provides Guidance to the SEC Regarding Municipal Advisor Regulation Letter Urges SEC to Stick to Congressional Intent On December 19, 2011, 35 members of Congress sent a letter to Chairman Mary Schapiro urging her to scale back the scope

    FINRA as SRO Q and A
    FSI Active on SEC Studies Called For in Dodd-Frank Act
    July 30, 2010

    On July 26, 2010, FSI submitted a letter SEC Chairman Mary Schapiro, and the four other SEC Commissioners, laying the groundwork for FSI’s engagement on the three important studies the SEC is charged with conducting as a result of the Dodd-Frank Act.