80 FR 35174 - Regulatory Flexibility Agenda
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 80, Issue 117 (June 18, 2015)
Federal Register Volume 80, Issue 117 (June 18, 2015)
| Page Range | 35174-35176 | |
| FR Document | 2015-14378 |
[Federal Register Volume 80, Number 117 (Thursday, June 18, 2015)] [Unknown Section] [Pages 35174-35176] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2015-14378] [[Page 35173]] Vol. 80 Thursday, No. 117 June 18, 2015 Part XXIV Securities and Exchange Commission ----------------------------------------------------------------------- Unified Agenda Federal Register / Vol. 80 , No. 117 / Thursday, June 18, 2015 / Unified Agenda [[Page 35174]] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION 17 CFR Ch. II [Release Nos. 33-9740, 34-74275, IA-4052, IC-31510, File No. S7-04-15] Regulatory Flexibility Agenda AGENCY: Securities and Exchange Commission. ACTION: Semiannual regulatory agenda. ----------------------------------------------------------------------- SUMMARY: The Securities and Exchange Commission is publishing the chair's agenda of rulemaking actions pursuant to the Regulatory Flexibility Act (RFA) (Pub. L. 96-354, 94 Stat. 1164) (Sep. 19, 1980). The items listed in the Regulatory Flexibility Agenda for spring 2015 reflect only the priorities of the chair of the U.S. Securities and Exchange Commission, and do not necessarily reflect the view and priorities of any individual commissioner. Information in the agenda was accurate on March 24, 2015, the date on which the Commission's staff completed compilation of the data. To the extent possible, rulemaking actions by the Commission since that date have been reflected in the agenda. The Commission invites questions and public comment on the agenda and on the individual agenda entries. The Commission is now printing in the Federal Register, along with our preamble, only those agenda entries for which we have indicated that preparation of an RFA analysis is required. The Commission's complete RFA agenda will be available online at www.reginfo.gov. DATES: Comments should be received on or before July 20, 2015. ADDRESSES: Comments may be submitted by any of the following methods: Electronic CommentsUse the Commission's Internet comment form (http://www.sec.gov/rules/other.shtml); or Send an email to [email protected]. Please include File Number S7-04-15 on the subject line; or Use the Federal eRulemaking Portal (http://www.regulations.gov). Follow the instructions for submitting comments. Paper Comments Send paper comments in triplicate to Brent J. Fields, Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090. All submissions should refer to File No. S7-04-15. This file number should be included on the subject line if email is used. To help us process and review your comments more efficiently, please use only one method. The Commission will post all comments on the Commission's Internet Web site (http://www.sec.gov/rules/other.shtml). Comments are also available for Web site viewing and printing in the Commission's Public Reference Room, 100 F Street NE., Washington, DC 20549, on official business days between the hours of 10:00 a.m. and 3:00 p.m. All comments received will be posted without change; we do not edit personal identifying information from submissions. You should submit only information that you wish to make available publicly. FOR FURTHER INFORMATION CONTACT: Anne Sullivan, Office of the General Counsel, 202-551-5019. SUPPLEMENTARY INFORMATION: The RFA requires each Federal agency, twice each year, to publish in the Federal Register an agenda identifying rules that the Agency expects to consider in the next 12 months that are likely to have a significant economic impact on a substantial number of small entities (5 U.S.C. 602(a)).The RFA specifically provides that publication of the agenda does not preclude an Agency from considering or acting on any matter not included in the agenda and that an agency is not required to consider or act on any matter that is included in the agenda (5 U.S.C. 602(d)). The Commission may consider or act on any matter earlier or later than the estimated date provided on the agenda. While the agenda reflects the current intent to complete a number of rulemakings in the next year, the precise dates for each rulemaking at this point are uncertain. Actions that do not have an estimated date are placed in the long-term category; the Commission may nevertheless act on items in that category within the next 12 months. The agenda includes new entries, entries carried over from prior publications, and rulemaking actions that have been completed (or withdrawn) since publication of the last agenda. The following abbreviations for the acts administered by the Commission are used in the agenda: ``Securities Act''--Securities Act of 1933 ``Exchange Act''--Securities Exchange Act of 1934 ``Investment Company Act''--Investment Company Act of 1940 ``Investment Advisers Act''--Investment Advisers Act of 1940 ``Dodd Frank Act''--Dodd-Frank Wall Street Reform and Consumer Protection Act ``Jobs Act''--Jumpstart Our Business Startups Act The Commission invites public comment on the agenda and on the individual agenda entries. By the Commission. Dated: March 25, 2015. Brent J. Fields, Secretary. Division of Corporation Finance--Final Rule Stage ------------------------------------------------------------------------ Regulation Sequence No. Title Identifier No. ------------------------------------------------------------------------ 392....................... Rules Governing the Offer 3235-AL37 and Sale of Securities Through Crowdfunding Under Section 4(a)(6) of the Securities Act. 393....................... Amendments to Regulation 3235-AL46 D, Form D and Rule 156 Under the Securities Act. 394....................... Changes to Exchange Act 3235-AL40 Registration Requirements to Implement Title V and Title VI of the JOBS Act. ------------------------------------------------------------------------ Division of Corporation Finance--Completed Actions ------------------------------------------------------------------------ Regulation Sequence No. Title Identifier No. ------------------------------------------------------------------------ 395....................... Amendments to Small and 3235-AL39 Additional Issues Exemptions Under the Securities Act. ------------------------------------------------------------------------ [[Page 35175]] Division of Investment Management--Completed Actions ------------------------------------------------------------------------ Regulation Sequence No. Title Identifier No. ------------------------------------------------------------------------ 396....................... Temporary Rule Regarding 3235-AL56 Principal Trades With Certain Advisory Clients. ------------------------------------------------------------------------ Division of Trading and Markets--Long-Term Actions ------------------------------------------------------------------------ Regulation Sequence No. Title Identifier No. ------------------------------------------------------------------------ 397....................... Removal of Certain 3235-AL14 References to Credit Ratings Under the Securities Exchange Act of 1934. ------------------------------------------------------------------------ SECURITIES AND EXCHANGE COMMISSION (SEC) Division of Corporation Finance Final Rule Stage 392. Rules Governing the Offer and Sale of Securities Through Crowdfunding Under Section 4(A)(6) of the Securities Act Legal Authority: 15 U.S.C. 77a et seq.; 15 U.S.C. 78a et seq.; Pub. L. 112-108, secs 301 to 305 Abstract: The Commission proposed rules to implement Title III of the JOBS Act by prescribing rules governing the offer and sale of securities through crowdfunding under new section 4(a)(6) of the Securities Act. Timetable: ------------------------------------------------------------------------ Action Date FR Cite ------------------------------------------------------------------------ NPRM................................ 11/05/13 78 FR 66428 NPRM Comment Period End............. 02/03/14 Final Action........................ 04/00/16 ------------------------------------------------------------------------ Regulatory Flexibility Analysis Required: Yes. Agency Contact: Sebastian Gomez Abero, Division of Corporation Finance, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549, Phone: 202 551-3500, Leila Bham, Division of Trading and Markets, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549, Phone: 202 551-5532. RIN: 3235-AL37 393. Amendments to Regulation D, Form D and Rule 156 Under the Securities Act Legal Authority: 15 U.S.C. 77a et seq Abstract: The Commission proposed rule and form amendments to enhance the Commission's ability to evaluate the development of market practices in offerings under Rule 506 of Regulation D and address concerns that may arise in connection with permitting issuers to engage in general solicitation and general advertising under new paragraph (c) of Rule 506. Timetable: ------------------------------------------------------------------------ Action Date FR Cite ------------------------------------------------------------------------ NPRM................................ 07/24/13 78 FR 44806 NPRM Comment Period End............. 09/23/13 NPRM Comment Period Reopened........ 10/03/13 78 FR 61222 NPRM Comment Period End............. 11/04/13 Final Action........................ 04/00/16 ------------------------------------------------------------------------ Regulatory Flexibility Analysis Required: Yes. Agency Contact: Charles Kwon, Division of Corporation Finance, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549, Phone: 202 551-3500, Ted Yu, Division of Corporation Finance, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549, Phone: 202 551-3500. RIN: 3235-AL46 394. Changes to Exchange Act Registration Requirements To Implement Title V and Title VI of the Jobs Act Legal Authority: Pub. L. 112-106 Abstract: The Commission proposed amendments to rules to implement Titles V (Private Company Flexibility and Growth) and VI (Capital Expansion) of the JOBS Act. Timetable: ------------------------------------------------------------------------ Action Date FR Cite ------------------------------------------------------------------------ NPRM................................ 12/30/14 79 FR 78343 NPRM Comment Period End............. 03/03/15 Final Action........................ 04/00/16 ------------------------------------------------------------------------ Regulatory Flexibility Analysis Required: Yes. Agency Contact: Steven G. Hearne, Division of Corporation Finance, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549, Phone: 202 551-3430. RIN: 3235-AL40 SECURITIES AND EXCHANGE COMMISSION (SEC) Division of Corporation Finance Completed Actions 395. Amendments to Small and Additional Issues Exemptions Under the Securities Act Legal Authority: 15 U.S.C. 77c(b) Abstract: The Commission adopted rules to implement section 401 of the JOBS Act. Section 401 added section 3(b)(2) to the Securities Act, which directs the Commission to adopt rules exempting from the registration requirements of the Securities Act securities offerings of up to $50 million. Timetable: ------------------------------------------------------------------------ Action Date FR Cite ------------------------------------------------------------------------ NPRM................................ 01/23/14 79 FR 3926 NPRM Comment Period End............. 03/24/14 Final Action........................ 04/20/15 80 FR 21806 Final Action Effective.............. 06/19/15 ------------------------------------------------------------------------ Regulatory Flexibility Analysis Required: Yes. Agency Contact: Zachary Fallon, Division of Corporation Finance, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549, Phone: 202 551-3354. RIN: 3235-AL39 SECURITIES AND EXCHANGE COMMISSION (SEC) Division of Investment Management Completed Actions 396. Temporary Rule Regarding Principal Trades With Certain Advisory Clients Legal Authority: 15 U.S.C. 80b-6a; 15 U.S.C. 80b-11(a) Abstract: Rule 206(3)-3T, a rule that provides investment advisers who are also registered broker-dealers an alternative means of compliance with [[Page 35176]] the principal trading restrictions in section 206(3) of the Investment Advisers Act, will expire on December 31, 2014. The Commission adopted a temporary rule to extend that date to December 31, 2016. Timetable: ------------------------------------------------------------------------ Action Date FR Cite ------------------------------------------------------------------------ NPRM................................ 08/18/14 79 FR 48709 NPRM Comment Period End............. 09/17/14 Final Action........................ 12/23/14 79 FR 76880 Final Action Effective.............. 12/31/14 ------------------------------------------------------------------------ Regulatory Flexibility Analysis Required: Yes. Agency Contact: Sarah Buescher, Division of Investment Management, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549, Phone: 202 551-5192, Email: [email protected]. RIN: 3235-AL56 SECURITIES AND EXCHANGE COMMISSION (SEC) Division of Trading and Markets Long-Term Actions 397. Removal of Certain References to Credit Ratings Under the Securities Exchange Act of 1934 Legal Authority: Pub. L. 111-203, sec 939A Abstract: Section 939A of the Dodd Frank Act requires the Commission to remove certain references to credit ratings from its regulations and to substitute such standards of creditworthiness as the Commission determines to be appropriate. The Commission amended certain rules and one form under the Exchange Act applicable to broker-dealer financial responsibility, and confirmation of transactions. The Commission has not yet finalized amendments to certain rules regarding the distribution of securities. Timetable: ------------------------------------------------------------------------ Action Date FR Cite ------------------------------------------------------------------------ NPRM................................ 05/06/11 76 FR 26550 NPRM Comment Period End............. 07/05/11 Final Action........................ 01/08/14 79 FR 1522 Final Action Effective.............. 07/07/14 ----------------------------------- Next Action Undetermined............ To Be Determined ------------------------------------------------------------------------ Regulatory Flexibility Analysis Required: Yes. Agency Contact: John Guidroz, Division of Trading and Markets, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549, Phone: 202 551-6439, Email: [email protected]. RIN: 3235-AL14 [FR Doc. 2015-14378 Filed 6-17-15; 8:45 am] BILLING CODE 8011-01-P
![35174 Federal Register / Vol. 80, No. 117 / Thursday, June 18, 2015 / Unified Agenda
SECURITIES AND EXCHANGE Electronic Comments U.S.C. 602(a)).The RFA specifically
COMMISSION • Use the Commission’s Internet provides that publication of the agenda
comment form (http://www.sec.gov/ does not preclude an Agency from
17 CFR Ch. II considering or acting on any matter not
rules/other.shtml); or
[Release Nos. 33–9740, 34–74275, IA–4052, • Send an email to rule-comments@ included in the agenda and that an
IC–31510, File No. S7–04–15] sec.gov. Please include File Number S7– agency is not required to consider or act
04–15 on the subject line; or on any matter that is included in the
Regulatory Flexibility Agenda • Use the Federal eRulemaking Portal agenda (5 U.S.C. 602(d)). The
(http://www.regulations.gov). Follow the Commission may consider or act on any
AGENCY: Securities and Exchange matter earlier or later than the estimated
Commission. instructions for submitting comments.
date provided on the agenda. While the
ACTION: Semiannual regulatory agenda. Paper Comments agenda reflects the current intent to
SUMMARY: The Securities and Exchange • Send paper comments in triplicate complete a number of rulemakings in
Commission is publishing the chair’s to Brent J. Fields, Secretary, Securities the next year, the precise dates for each
agenda of rulemaking actions pursuant and Exchange Commission, 100 F Street rulemaking at this point are uncertain.
to the Regulatory Flexibility Act (RFA) NE., Washington, DC 20549–1090. Actions that do not have an estimated
(Pub. L. 96–354, 94 Stat. 1164) (Sep. 19, date are placed in the long-term
All submissions should refer to File No.
1980). The items listed in the Regulatory category; the Commission may
S7–04–15. This file number should be
Flexibility Agenda for spring 2015 nevertheless act on items in that
included on the subject line if email is
reflect only the priorities of the chair of category within the next 12 months. The
used. To help us process and review
the U.S. Securities and Exchange agenda includes new entries, entries
your comments more efficiently, please
Commission, and do not necessarily carried over from prior publications,
use only one method. The Commission
reflect the view and priorities of any and rulemaking actions that have been
will post all comments on the
individual commissioner. completed (or withdrawn) since
Commission’s Internet Web site (http://
Information in the agenda was publication of the last agenda.
www.sec.gov/rules/other.shtml).
accurate on March 24, 2015, the date on Comments are also available for Web The following abbreviations for the
which the Commission’s staff completed site viewing and printing in the acts administered by the Commission
compilation of the data. To the extent Commission’s Public Reference Room, are used in the agenda:
possible, rulemaking actions by the 100 F Street NE., Washington, DC ‘‘Securities Act’’—Securities Act of 1933
Commission since that date have been 20549, on official business days ‘‘Exchange Act’’—Securities Exchange
reflected in the agenda. The between the hours of 10:00 a.m. and Act of 1934
Commission invites questions and 3:00 p.m. All comments received will be ‘‘Investment Company Act’’—
public comment on the agenda and on posted without change; we do not edit Investment Company Act of 1940
the individual agenda entries. personal identifying information from ‘‘Investment Advisers Act’’—Investment
The Commission is now printing in submissions. You should submit only Advisers Act of 1940
the Federal Register, along with our information that you wish to make
preamble, only those agenda entries for ‘‘Dodd Frank Act’’—Dodd-Frank Wall
available publicly. Street Reform and Consumer
which we have indicated that FOR FURTHER INFORMATION CONTACT:
preparation of an RFA analysis is Protection Act
Anne Sullivan, Office of the General ‘‘Jobs Act’’—Jumpstart Our Business
required. Counsel, 202–551–5019.
The Commission’s complete RFA Startups Act
SUPPLEMENTARY INFORMATION: The RFA
agenda will be available online at The Commission invites public
requires each Federal agency, twice comment on the agenda and on the
www.reginfo.gov.
each year, to publish in the Federal individual agenda entries.
DATES: Comments should be received on Register an agenda identifying rules that
or before July 20, 2015. the Agency expects to consider in the By the Commission.
ADDRESSES: Comments may be next 12 months that are likely to have Dated: March 25, 2015.
submitted by any of the following a significant economic impact on a Brent J. Fields,
methods: substantial number of small entities (5 Secretary.
DIVISION OF CORPORATION FINANCE—FINAL RULE STAGE
Regulation
Sequence No. Title Identifier No.
392 .................... Rules Governing the Offer and Sale of Securities Through Crowdfunding Under Section 4(a)(6) of the Se- 3235–AL37
curities Act.
393 .................... Amendments to Regulation D, Form D and Rule 156 Under the Securities Act ............................................ 3235–AL46
394 .................... Changes to Exchange Act Registration Requirements to Implement Title V and Title VI of the JOBS Act .. 3235–AL40
tkelley on DSK3SPTVN1PROD with PROPOSALS 24
DIVISION OF CORPORATION FINANCE—COMPLETED ACTIONS
Regulation
Sequence No. Title Identifier No.
395 .................... Amendments to Small and Additional Issues Exemptions Under the Securities Act ..................................... 3235–AL39
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![35176 Federal Register / Vol. 80, No. 117 / Thursday, June 18, 2015 / Unified Agenda
the principal trading restrictions in SECURITIES AND EXCHANGE Timetable:
section 206(3) of the Investment COMMISSION (SEC)
Advisers Act, will expire on December Action Date FR Cite
Division of Trading and Markets
31, 2014. The Commission adopted a
temporary rule to extend that date to Long-Term Actions NPRM .................. 05/06/11 76 FR 26550
December 31, 2016. NPRM Comment 07/05/11
397. Removal of Certain References to Period End.
Timetable: Credit Ratings Under the Securities Final Action ......... 01/08/14 79 FR 1522
Exchange Act of 1934 Final Action Effec- 07/07/14
Action Date FR Cite
Legal Authority: Pub. L. 111–203, sec tive.
NPRM .................. 08/18/14 79 FR 48709 939A
NPRM Comment 09/17/14 Abstract: Section 939A of the Dodd Next Action Unde- To Be Determined
Period End. Frank Act requires the Commission to termined.
Final Action ......... 12/23/14 79 FR 76880 remove certain references to credit
Final Action Effec- 12/31/14 ratings from its regulations and to Regulatory Flexibility Analysis
tive. substitute such standards of Required: Yes.
creditworthiness as the Commission Agency Contact: John Guidroz,
Regulatory Flexibility Analysis determines to be appropriate. The Division of Trading and Markets,
Required: Yes. Commission amended certain rules and Securities and Exchange Commission,
Agency Contact: Sarah Buescher, one form under the Exchange Act 100 F Street NE., Washington, DC
Division of Investment Management, applicable to broker-dealer financial 20549, Phone: 202 551–6439, Email:
Securities and Exchange Commission, responsibility, and confirmation of guidrozj@sec.gov.
100 F Street NE., Washington, DC transactions. The Commission has not
20549, Phone: 202 551–5192, Email: yet finalized amendments to certain RIN: 3235–AL14
bueschers@sec.gov. rules regarding the distribution of [FR Doc. 2015–14378 Filed 6–17–15; 8:45 am]
RIN: 3235–AL56 securities. BILLING CODE 8011–01–P
tkelley on DSK3SPTVN1PROD with PROPOSALS 24
VerDate Sep<11>2014 21:09 Jun 17, 2015 Jkt 235001 PO 00000 Frm 00004 Fmt 4701 Sfmt 9990 E:\FR\FM\18JNP24.SGM 18JNP24](https://thefederalregister.org/doc/80_FR_35291/page/3.svg)
Document Created: 2018-02-22 11:12:08
Document Modified: 2018-02-22 11:12:08
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Unknown Section | |
| Action | Semiannual regulatory agenda. | |
| Dates | Comments should be received on or before July 20, 2015. | |
| Contact | Anne Sullivan, Office of the General Counsel, 202-551-5019. | |
| FR Citation | 80 FR 35174 |
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