Search Results for keywords:"conflict of interest"

The National Marine Fisheries Service (NMFS) has issued a final rule updating regulations for seafood inspection procedures, which were last majorly revised in 1971. The rule aims to improve the consistency and accuracy of seafood inspections by adopting recognized best practices and simplifying procedures. These updates are expected to benefit the seafood industry by modernizing inspection methods and shifting regulatory language to a digital manual. The rule will become effective on January 15, 2025, and aligns definitions with existing Food and Drug Administration (FDA) regulations.

On December 11, 2024, the Nasdaq Stock Market LLC proposed to the Securities and Exchange Commission (SEC) that it should take over handling contested disciplinary proceedings that are currently managed by FINRA. The proposal seeks to give Nasdaq Regulation the same authority as FINRA to serve complaints and memoranda of authority. This change is intended to enhance efficiency and effectiveness by utilizing Nasdaq’s own resources. After reviewing the proposed changes, the SEC approved the plan, allowing Nasdaq to manage these disciplinary proceedings unless its resources are constrained, in which case FINRA would handle them under Nasdaq's supervision.

The Investors Exchange LLC (IEX) has proposed changes to its parent corporation's bylaws. These changes would allow the Board of Directors to invite non-voting observers to attend and participate in board meetings. The proposed amendment aims to formally codify existing practices, ensuring clear roles and responsibilities for these observers while maintaining confidentiality and regulatory compliance. This proposal is considered non-controversial and is aligned with similar practices at other exchanges like BOX and MEMX, which also allow non-voting board observers.

The Securities and Exchange Commission announced a notice regarding an application from the Esoterica Thematic Trust and Esoterica Capital LLC. They are seeking an exemption to allow modifications of subadvisory agreements without shareholder approval and relief from certain disclosure rules about fees. The requested exemption would enable more efficient operations by allowing the Adviser to select and amend agreements with subadvisers, subject to approval by the board of trustees, without the need for shareholder meetings. This is intended to streamline processes while ensuring transparency through aggregated fee disclosures.

The Department of Defense (DoD) is creating a new advisory committee called the Strategic and Critical Materials Board of Directors (S&CM BoD). This committee will help strengthen the industrial base and manage materials important for national security, focusing particularly on the National Defense Stockpile program. The committee will have 13 to 20 members, including representatives from various government departments and other experts. Members who are not federal employees will be paid for their work, and the public can submit their views to the committee at any time.

The Securities and Exchange Commission (SEC) is reviewing a proposed plan, submitted by various stock exchanges and financial industry regulators, to establish a new national system for sharing real-time stock market data. This new plan aims to replace the existing three separate plans and address conflicts of interest where exchanges might prioritize their own data products over the collective responsibility to provide fair access to market data. The SEC is seeking public comments to determine whether the plan should be approved, possibly with modifications, or disapproved. Interested parties are invited to submit their opinions by February 5, 2021, with opportunities for rebuttals until February 19, 2021.

The National Institute on Drug Abuse has announced closed meetings scheduled for February 21 and February 24, 2025, according to the Federal Advisory Committee Act. These meetings are closed to the public to protect confidential information discussed during grant application reviews. The February 21 meeting will focus on the relationship between sleep and substance use disorders, while the February 24 meeting will examine the link between autophagy, HIV, and substance use disorders. Both meetings will be held virtually, and specific contact information is provided for those interested.

The Department of Labor has granted an exemption to the Boilermakers Western States Apprenticeship Fund, allowing it to purchase a property in Page, Arizona, from Lodge 4, despite restrictions under the Employee Retirement Income Security Act of 1974 (ERISA). This decision was made to avoid the costs and time of relocating the Plan's training program and because the property is already modified for this purpose. An independent fiduciary will ensure that the property is bought at fair market value, adhering to all necessary conditions. The purchase will help maintain the training program and provide administrative space for the Plan's headquarters.

The U.S. Department of Labor's Employee Benefits Security Administration granted an exemption allowing the Associated General Contractors of America, San Diego Chapter, Inc. to lease its training facility to its Apprenticeship and Training Fund under specific conditions. The agreement ensures the Plan pays fair market rent, verified by an independent fiduciary, and that the lease benefits participants by providing effective training facilities. The fiduciary also monitors compliance with the lease terms and any rent increases must adhere to changes in the Consumer Price Index. This exemption is designed to avoid conflicts with ERISA's prohibited transaction rules.

The Securities and Exchange Commission (SEC) is considering an application from HarbourVest Private Investments Fund and HarbourVest Registered Advisers L.P. for an exemption under the Investment Company Act of 1940. This exemption would allow certain registered investment companies to pay advisory fees in shares of their common stock. Interested parties can request a hearing by emailing the SEC and the applicants by March 14, 2025. The application's details and conditions can be accessed through the SEC's EDGAR system.