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The Securities and Exchange Commission (SEC) released Staff Accounting Bulletin No. 122, which removes the previous guidance about protecting crypto-assets held for platform users in their Staff Accounting Bulletin Series. This change affects how companies account for their responsibility to safeguard these assets and requires them to determine if they need to recognize a liability for potential losses. Companies are advised to apply this change retrospectively starting after December 15, 2024, and must provide clear disclosures about how this change affects their financial statements. The aim is to help investors understand a company's obligations concerning crypto-assets.

The Securities and Exchange Commission (SEC) is seeking public comments regarding the extension of information collection under Rule 34b-1, as required by the Paperwork Reduction Act of 1995. This rule pertains to the sales literature of investment companies, ensuring that performance data is standardized and not misleading to investors. The SEC estimates that each year, approximately 351 respondents submit 7,362 responses related to this rule, with a total annual burden of around 46,278 hours. The SEC invites comments on whether this information collection is necessary and how the process might be improved.