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

The Securities and Exchange Commission (SEC) is seeking approval from the Office of Management and Budget to extend an existing collection of information under Rule 15c2-12, which involves municipal securities disclosure. This rule requires certain actions from underwriters, like obtaining important financial statements from municipal securities issuers before making transactions, and ensuring that issuers provide ongoing financial information to the Municipal Securities Rulemaking Board. The SEC estimates that it will take hundreds of thousands of hours per year for issuers, broker-dealers, and the MSRB to comply with the rule and that compliance will cost millions of dollars over the next three years. The public can view and comment on this request by early March 2025.

The Securities and Exchange Commission (SEC) has disapproved a proposed rule change submitted by the Cboe BZX Exchange, Inc., which aimed to extend the time allowed for certain exchange-traded products (ETPs) to meet minimum listing requirements. The Exchange wanted to increase the compliance period from 12 to 36 months for ETPs to have a minimum of 50 beneficial holders, arguing it aligns better with the ETP lifecycle and current market conditions. However, the SEC found that the Exchange did not provide enough evidence to ensure this change would protect against market manipulation and protect investors. Despite receiving some support from commenters, the proposal was deemed inconsistent with the necessary regulatory requirements.

The Securities and Exchange Commission approved a proposed rule change by the New York Stock Exchange (NYSE) to amend Section 907.00 of its Listed Company Manual, which extends the period during which newly listed and transfer companies can receive complimentary products and services from 24 to 48 months. These services include market surveillance, web hosting, and analytics, among others, and are provided by third-party vendors. The purpose of this expansion is to help NYSE stay competitive in attracting new listings and transfers by offering extended benefits similar to those provided by Nasdaq. The approval ensures that the rule is transparent and does not discriminate unfairly among companies.

The Securities and Exchange Commission (SEC) has announced a list of rules they plan to review as part of the Regulatory Flexibility Act. The aim of this review is to determine if these rules should stay the same, be changed, or removed to lessen their economic impact on small businesses. The public is encouraged to provide feedback on these rules by January 9, 2025, to help the SEC make informed decisions. This includes important rulings such as those related to crowdfunding and small business exemptions under securities law.

NYSE Arca, Inc. has submitted a proposal to the Securities and Exchange Commission to list and trade shares of the COtwo Advisors Physical European Carbon Allowance Trust, which would allow investors to gain exposure to the European Union's carbon emissions market. This trust intends to invest solely in European Union Carbon Emission Allowances and is designed as a cost-effective way for investors to participate in the market. The proposal highlights various mechanisms to ensure transparency and prevent fraud, including surveillance-sharing arrangements with regulated markets like ICE Endex. The SEC is inviting public comments on this proposal before making a decision.

The Department of Justice has lodged a proposed Consent Decree in the lawsuit United States v. Midwest Can Company for violations under the Clean Air Act. The company will have to conduct additional testing on its portable fuel containers and pay a $1.7 million penalty. A public comment period is now open where people can submit feedback on the decree until 30 days after this notice's publication date. The Consent Decree is accessible online and in print for a fee.

The Nasdaq Stock Market LLC has proposed a rule change to modify and expand the complimentary services it provides to eligible companies. This new package includes additional services like Media Monitoring/Social Listening and ESG services, aimed at enhancing communication with investors and supporting ESG reporting. The proposal seeks to simplify service tiers and extend service durations to make Nasdaq more attractive to companies considering listing. This rule change is designed to ensure fair competition and transparency while providing valuable support to companies listing on the exchange.

The Federal Trade Commission (FTC) has proposed a consent order to address alleged anticompetitive practices by the private equity firm Welsh, Carson, Anderson & Stowe. The firm was accused of violating several federal laws by consolidating anesthesia services in Texas through its company, U.S. Anesthesia Partners, Inc., which led to increased prices. The proposed order seeks to limit Welsh Carson's influence over this company and requires them to obtain FTC approval for future acquisitions in anesthesia and related medical fields to prevent similar monopolistic behavior. The public has until March 20, 2025, to submit comments on this proposed consent order.

The Securities and Exchange Commission is reviewing a proposal by Cboe BZX Exchange, Inc. to list and trade shares of the Fidelity Solana Fund. This fund will invest in Solana, a type of cryptocurrency, without needing a surveillance-sharing agreement with a market of significant size for monitoring. The proposal aims to offer U.S. investors a transparent and regulated option to invest in Solana, possibly reducing risks like price manipulation and high management fees. The SEC is seeking comments from the public and plans to decide on approval within 90 days.

The Department of Justice has proposed a consent decree regarding a lawsuit against the Water Supply and Storage Company and the Grand River Ditch, involving damage caused by a ruptured pipe at the Grand River Ditch in Rocky Mountain National Park. Under the decree, the defendants must pay $2,680,000 for response costs and damages, enter an operations and maintenance agreement, and hire a consultant for a maintenance plan. The public can comment on this decree within 30 days of the notice publication. The consent decree is available on the Justice Department's website for those interested.