Search Results for agency_names:"Investment Company Act Release No. 35487

The Securities and Exchange Commission (SEC) has allowed the New York Stock Exchange (NYSE) to change a previous exemption that lets them trade debt securities on NYSE Bonds, even if these aren't registered under the Exchange Act. Previously, the issuer needed to have shares listed on the NYSE, but now these shares can be listed on any national securities exchange. This change aims to reduce regulatory differences and boost competition between exchange-traded and over-the-counter markets for these securities. The decision includes measures to safeguard investors, like ensuring continuous monitoring of the issuers' equity securities that allow their debt securities to trade on the NYSE.

The Depository Trust Company (DTC) submitted a proposal to the Securities and Exchange Commission (SEC) to issue up to $3 billion in senior notes. The goal is to enhance DTC's liquidity by having more cash available in case a participant fails to meet their financial obligations. This idea aims to make DTC less reliant on existing credit resources and better prepared to meet its liquidity needs. The SEC reviewed the plan and concluded that it aligns with financial stability goals and risk management standards, thus posing no objections to the proposal.

The Securities and Exchange Commission (SEC) has approved changes to the Nasdaq Stock Market's initial listing requirements on an accelerated basis. These changes require that companies listing on the Nasdaq Global Market or Nasdaq Capital Market through an initial public offering (IPO) meet a minimum market value of publicly held shares solely with the proceeds from the offering. Additionally, companies uplisting from the U.S. over-the-counter market will also need to meet this requirement using only IPO proceeds. The purpose of these changes is to enhance liquidity and stability for newly listed securities.

The Securities and Exchange Commission (SEC) is extending the compliance deadlines for certain investment company name regulations initially set to avoid misleading investors. For fund groups with over $1 billion in assets, the compliance date is postponed from December 11, 2025, to June 11, 2026, while for smaller fund groups, it's moved from June 11, 2026, to December 11, 2026. The SEC is making these changes to help investment companies and their service providers, who are facing difficulties in meeting the original deadlines due to the complexity and costs involved. The new rule allows funds to align their compliance with their fiscal year-end obligations, reducing the need for costly off-cycle amendments.

This final rule, implemented by the National Highway Traffic Safety Administration (NHTSA), fulfills requirements of the Motor Vehicle Safety Whistleblower Act. It offers rewards to whistleblowers who provide original information regarding motor vehicle defects, noncompliance, or violations that might lead to severe injury or death, if this information aids in successfully resolving enforcement actions. The rule details procedures for submitting information, eligibility for awards, maintaining confidentiality, and factors in award determination. It aims to motivate employees of car manufacturers, part suppliers, and dealerships to report serious safety issues by clarifying protections and ensuring confidentiality.

The Securities and Exchange Commission (SEC) has announced a notice concerning applications for deregistration under Section 8(f) of the Investment Company Act of 1940 for November 2024. Several companies have applied for deregistration, seeking orders to no longer be considered investment companies after transferring or liquidating assets. Notable names include Aquila Municipal Trust, BCM Focus Funds, Cohen & Steers Alternative Income Fund, Inc., Cook & Bynum Funds Trust, and GL Beyond Income Fund. These applicants have completed financial transactions and distributions, and expenses were generally covered by the investment advisers of the acquiring or liquidating entities.

The Consumer Financial Protection Bureau (CFPB) has issued a policy statement on No-Action Letters (NALs) aimed at promoting innovation and competition in consumer financial services while ensuring ethical standards and transparency. This policy outlines conditions under which companies can receive a No-Action Letter, which indicates that the CFPB will not take enforcement action against them for certain practices. It also includes safeguards to prevent abuses, such as not granting letters to companies with recent legal issues and not allowing firms to misrepresent their regulatory status. The policy is designed to foster improvements in consumer financial markets without favoring particular companies or compromising market competition.

The Department of Justice lodged a proposed Consent Decree with a Texas court related to environmental damage claims against E. I. du Pont de Nemours and Company and The Chemours Company FC, LLC. This decree aims to address damages caused by hazardous substance releases near Beaumont, Texas, requiring the defendants to establish a restoration project, including conservation efforts and monitoring on a 500-acre land. Additionally, the defendants will pay over $198,000 to cover the costs related to the environmental assessment and future project oversight. The public is invited to comment on the decree within 30 days following the notice's publication.

The Securities and Exchange Commission (SEC) has approved a rule change by the New York Stock Exchange (NYSE) that restricts certain companies from using reverse stock splits to continue being listed on the exchange. This new rule targets companies that repeatedly use reverse stock splits, especially if they have done so in the past year or have a significant reverse split history in the last two years. The SEC believes this rule will help protect investors by ensuring that companies listed on the exchange are financially stable and suitable for continuing public trading. Companies can still appeal if they are delisted due to these new rules.

The Department of Justice has lodged a proposed Consent Decree with a Massachusetts federal court to resolve claims related to environmental damage at the Shpack Landfill Site in Massachusetts. The agreement involves multiple defendants, including Aerosols Danville, Inc., and would require them, along with the Department of Energy, to pay $2.1 million for natural resource restoration and cost assessments. In return, they would receive legal protections under environmental laws. The public has 30 days to comment on the proposed decree, which can be accessed online through the Justice Department's website.