81 FR 37470 - Regulatory Flexibility Agenda
SECURITIES AND EXCHANGE COMMISSION Federal Register Volume 81, Issue 111 (June 9, 2016)
Federal Register Volume 81, Issue 111 (June 9, 2016)
| Page Range | 37470-37473 | |
| FR Document | 2016-12968 |
[Federal Register Volume 81, Number 111 (Thursday, June 9, 2016)] [Unknown Section] [Pages 37470-37473] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-12968] [[Page 37469]] Vol. 81 Thursday, No. 111 June 9, 2016 Part XXVIII Securities and Exchange Commission ----------------------------------------------------------------------- Semiannual Regulatory Agenda Federal Register / Vol. 81 , No. 111 / Thursday, June 9, 2016 / Unified Agenda [[Page 37470]] ----------------------------------------------------------------------- SECURITIES AND EXCHANGE COMMISSION 17 CFR Ch. II [Release Nos. 33-10056, 34-77408, IA-4353, IC-32031, File No. S7-04-16] 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 2016 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 18, 2016, 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 11, 2016. 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 S7-04-16 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 to Brent J. Fields, Secretary, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549-1090. All submissions should refer to File No. S7-04-16. 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 18, 2016. Brent J. Fields, Secretary. Division of Corporation Finance--Proposed Rule Stage ------------------------------------------------------------------------ Regulation Sequence No. Title Identifier No. ------------------------------------------------------------------------ 408....................... 10-K Summary Page......... 3235-AL89 409....................... Revisions to Smaller 3235-AL90 Reporting Company Definition. ------------------------------------------------------------------------ Division of Corporation Finance--Final Rule Stage ------------------------------------------------------------------------ Regulation Sequence No. Title Identifier No. ------------------------------------------------------------------------ 410....................... Pay Versus Performance.... 3235-AL00 411....................... Amendments to Regulation 3235-AL46 D, Form D and Rule 156 Under the Securities Act. 412....................... Disclosure of Hedging by 3235-AL49 Employees, Officers and Directors. 413....................... Listing Standards for 3235-AK99 Recovery of Erroneously Awarded Compensation. 414....................... Changes to Exchange Act 3235-AL40 Registration Requirements to Implement Title V and Title VI of the JOBS Act. ------------------------------------------------------------------------ [[Page 37471]] Division of Corporation Finance--Completed Actions ------------------------------------------------------------------------ Regulation Sequence No. Title Identifier No. ------------------------------------------------------------------------ 415....................... Crowdfunding.............. 3235-AL37 ------------------------------------------------------------------------ Division of Investment Management--Final Rule Stage ------------------------------------------------------------------------ Regulation Sequence No. Title Identifier No. ------------------------------------------------------------------------ 416....................... Reporting of Proxy Votes 3235-AK67 on Executive Compensation and Other Matters. 417....................... Investment Company 3235-AL42 Reporting Modernization. 418....................... Use of Derivatives by 3235-AL60 Registered Investment Companies and Business Development Companies. 419....................... Open-End Liquidity Risk 3235-AL61 Management Programs; Swing Pricing. 420....................... Amendments to Form ADV and 3235-AL75 Investment Advisers Act Rules. ------------------------------------------------------------------------ Division of Trading and Markets--Long-Term Actions ------------------------------------------------------------------------ Regulation Sequence No. Title Identifier No. ------------------------------------------------------------------------ 421....................... 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 Proposed Rule Stage 408. 10-K Summary Page Legal Authority: Pub. L. 114-94; 15 U.S.C. 78c; 15 U.S.C. 78l; 15 U.S.C. 78m; 15 U.S.C. 78o; 15 U.S.C. 78w; 15 U.S.C. 78ll Abstract: The Division is considering recommending that the Commission propose rules to implement section 72001 of the FAST Act by permitting issuers to submit a summary page on Form 10-K. Timetable: ------------------------------------------------------------------------ Action Date FR Cite ------------------------------------------------------------------------ NPRM................................ 04/00/17 ------------------------------------------------------------------------ Regulatory Flexibility Analysis Required: Yes. Agency Contact: Sean Harrison, Division of Corporation Finance, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549, Phone: 202 551-3430, Fax: 202 772-9207. RIN: 3235-AL89 409. Revisions to Smaller Reporting Company Definition Legal Authority: Not Yet Determined Abstract: The Division is considering recommending that the Commission propose revisions to the smaller reporting company definitions and related provisions. Timetable: ------------------------------------------------------------------------ Action Date FR Cite ------------------------------------------------------------------------ NPRM................................ 04/00/17 ------------------------------------------------------------------------ Regulatory Flexibility Analysis Required: Yes. Agency Contact: Michael Seaman, Division of Corporation Finance, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549, Phone: 202 551-3460. RIN: 3235-AL90 SECURITIES AND EXCHANGE COMMISSION (SEC) Division of Corporation Finance Final Rule Stage 410. Pay Versus Performance Legal Authority: Pub. L. 111-203, sec 955; 15 U.S.C. 78n Abstract: The Commission proposed rules to implement section 953(a) of the Dodd Frank Act, which added section 14(i) to the Exchange Act to require issuers to disclose information that shows the relationship between executive compensation actually paid and the financial performance of the issuer. Timetable: ------------------------------------------------------------------------ Action Date FR Cite ------------------------------------------------------------------------ NPRM................................ 05/07/15 80 FR 26330 NPRM Comment Period End............. 07/06/15 Final Action........................ 04/00/17 ------------------------------------------------------------------------ Regulatory Flexibility Analysis Required: Yes. Agency Contact: Eduardo Aleman, Division of Corporation Finance, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549, Phone: 202 551-3430, Fax: 202 772-9207. RIN: 3235-AL00 411. 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 Reopened End.... 11/04/13 Final Action........................ 04/00/17 ------------------------------------------------------------------------ Regulatory Flexibility Analysis Required: Yes. Agency Contact: Mark Vilardo, Division of Corporation Finance, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549, Phone: 202 551-3500. RIN: 3235-AL46 [[Page 37472]] 412. Disclosure of Hedging by Employees, Officers and Directors Legal Authority: Pub. L. 111-203 Abstract: The Commission proposed rules to implement section 955 of the Dodd Frank Act, which added section 14(j) to the Exchange Act to require annual meeting proxy statement disclosure of whether employees or members of the board of directors are permitted to engage in transactions to hedge or offset any decrease in the market value of equity securities granted to the employee or board member as compensation, or held directly or indirectly by the employee or board member. Timetable: ------------------------------------------------------------------------ Action Date FR Cite ------------------------------------------------------------------------ NPRM................................ 02/17/15 80 FR 8486 NPRM Comment Period End............. 04/20/15 Final Action........................ 04/00/17 ------------------------------------------------------------------------ Regulatory Flexibility Analysis Required: Yes. Agency Contact: Carolyn Sherman, Division of Corporation Finance, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549, Phone: 202 551-3500. RIN: 3235-AL49 413. Listing Standards for Recovery of Erroneously Awarded Compensation Legal Authority: Pub. L. 111-203, sec 954; 15 U.S.C. 78j-4 Abstract: The Commission proposed rules to implement section 954 of the Dodd Frank Act, which requires the Commission to adopt rules to direct national securities exchanges to prohibit the listing of securities of issuers that have not developed and implemented a policy providing for disclosure of the issuer's policy on incentive-based compensation and mandating the clawback of such compensation in certain circumstances. Timetable: ------------------------------------------------------------------------ Action Date FR Cite ------------------------------------------------------------------------ NPRM................................ 07/14/15 80 FR 41144 NPRM Comment Period End............. 09/14/15 Final Action........................ 04/00/17 ------------------------------------------------------------------------ Regulatory Flexibility Analysis Required: Yes. Agency Contact: Anne M. Krauskopf, Division of Corporation Finance, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549, Phone: 202 551-3500. RIN: 3235-AK99 414. 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........................ 04/00/17 ------------------------------------------------------------------------ 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 415. Crowdfunding 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 adopted 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........................ 11/16/15 80 FR 71388 Final Action Effective.............. 05/16/16 ....................... ------------------------------------------------------------------------ Regulatory Flexibility Analysis Required: Yes. Agency Contact: Timothy White, Division of Trading and Markets, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549, Phone: 202 551-7232. Sebastian Gomez Abero, Division of Corporation Finance, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549, Phone: 202 551-3460. RIN: 3235-AL37 SECURITIES AND EXCHANGE COMMISSION (SEC) Division of Investment Management Final Rule Stage 416. Reporting of Proxy Votes on Executive Compensation and Other Matters Legal Authority: 15 U.S.C. 78m; 15 U.S.C. 78w(a); 15 U.S.C. 78mm; 15 U.S.C. 78x; 15 U.S.C. 80a-8; 15 U.S.C. 80a-29; 15 U.S.C. 80a-30; 15 U.S.C. 80a-37; 15 U.S.C. 80a-44; Pub. L. 111-203, sec 951 Abstract: The Commission proposed rule amendments to implement section 951 of the Dodd Frank Act. The proposed amendments to rules and Form N-PX would require institutional investment managers subject to section 13(f) of the Exchange Act to report how they voted on any shareholder vote on executive compensation or golden parachutes pursuant to sections 14A(a) and (b) of the Exchange Act. Timetable: ------------------------------------------------------------------------ Action Date FR Cite ------------------------------------------------------------------------ NPRM................................ 10/28/10 75 FR 66622 NPRM Comment Period End............. 11/18/10 ....................... Final Action........................ 04/00/17 ....................... ------------------------------------------------------------------------ Regulatory Flexibility Analysis Required: Yes. Agency Contact: Matthew DeLesDernier, Division of Investment Management, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549, Phone: 202 551-6792, Email: [email protected]. RIN: 3235-AK67 417. Investment Company Reporting Modernization Legal Authority: 15 U.S.C. 77 et seq.; 15 U.S.C. 77aaa et seq.; 15 U.S.C. 78a et seq.; 15 U.S.C. 80a et seq.; 44 U.S.C. 3506; 44 U.S.C. 3507 Abstract: The Commission proposed new rules and forms as well as amendments to its rules and forms to modernize the reporting and disclosure of information by registered investment companies. Timetable: ------------------------------------------------------------------------ Action Date FR Cite ------------------------------------------------------------------------ NPRM................................ 06/12/15 80 FR 33590 NPRM Comment Period End............. 08/11/15 ....................... NPRM Comment Period Reopened........ 10/12/15 80 FR 62274 NPRM Comment Period Reopened End.... 01/13/16 ....................... Final Action........................ 04/00/17 ....................... ------------------------------------------------------------------------ [[Page 37473]] Regulatory Flexibility Analysis Required: Yes. Agency Contact: Sara Cortes, Division of Investment Management, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549, Phone: 202 551-6781, Email: [email protected]. RIN: 3235-AL42 418. Use of Derivatives by Registered Investment Companies and Business Development Companies Legal Authority: 15 U.S.C. 80a-c(c); 15 U.S.C. 80a-31(a); 15 U.S.C. 80a-12(a); 15 U.S.C. 80a-38(a); 15 U.S.C. 80a-8; 15 U.S.C. 80a-30; 15 U.S.C. 80-38 Abstract: The Commission proposed a new rule designed to enhance the regulation of the use of derivatives by registered investment companies, including mutual funds, exchange-traded funds, closed-end funds and business development companies. The proposed rule would regulate registered investment companies' use of derivatives and require enhanced risk management measures. Timetable: ------------------------------------------------------------------------ Action Date FR Cite ------------------------------------------------------------------------ NPRM................................ 12/28/15 80 FR 80884 NPRM Comment Period End............. 03/28/16 ....................... Final Action........................ 04/00/17 ....................... ------------------------------------------------------------------------ Regulatory Flexibility Analysis Required: Yes. Agency Contact: Brian Johnson, Division of Investment Management, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549, Phone: 202 551-6740, Email: [email protected]. RIN: 3235-AL60 419. Open-End Liquidity Risk Management Programs; Swing Pricing Legal Authority: 15 U.S.C. 80a-37(a); 15 U.S.C. 80a-22(c); 15 U.S.C. 80a-31(a); 15 U.S.C. 77a et seq.; 15 U.S.C. 77aaa et seq.; 15 U.S.C. 78a et seq.; 15 U.S.C 80a et seq. Abstract: The Commission proposed a new rule requiring open-end funds to adopt and implement liquidity management programs. The Commission also proposed rule amendments that permit open-end funds to use ``swing pricing'' and form amendments that enhance disclosure regarding fund liquidity and redemption practices. Timetable: ------------------------------------------------------------------------ Action Date FR Cite ------------------------------------------------------------------------ NPRM................................ 10/15/15 80 FR 62274 NPRM Comment Period End............. 01/13/16 ....................... Final Action........................ 04/00/17 ....................... ------------------------------------------------------------------------ Regulatory Flexibility Analysis Required: Yes. Agency Contact: Sarah ten Siethoff, Division of Investment Management, Securities and Exchange Commission, 100 F Street NE., Washington, DC 20549, Phone: 202 551-6729, Email: [email protected]. RIN: 3235-AL61 420. Amendments to Form ADV and Investment Advisers Act Rules Legal Authority: 15 U.S.C. 77s(a); 15 U.S.C. 77sss(a); 15 U.S.C. 78bb(e)(2); 15 U.S.C. 78w(a); 15 U.S.C. 80a-37(a); 15 U.S.C. 80b- 3(c)(1) Abstract: The Commission proposed amendments to Form ADV that are designed to provide additional information regarding advisers, including information about their separately managed account business; incorporate a method for private fund adviser entities operating a single advisory business to register using a single Form ADV; and make clarifying, technical and other amendments to certain Form ADV items and instructions. The Commission also proposed amendments to the Investment Advisers Act books and records rule and technical amendments to several Investment Advisers Act rules to remove transition provisions that are no longer necessary. Timetable: ------------------------------------------------------------------------ Action Date FR Cite ------------------------------------------------------------------------ NPRM................................ 06/12/15 80 FR 33718 NPRM Comment Period End............. 08/11/15 ....................... Final Action........................ 04/00/17 ....................... ------------------------------------------------------------------------ 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-AL75 SECURITIES AND EXCHANGE COMMISSION (SEC) Division of Trading and Markets Long-Term Actions 421. 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. 2016-12968 Filed 6-8-16; 8:45 am] BILLING CODE 8011-01-P
![37470 Federal Register / Vol. 81, No. 111 / Thursday, June 9, 2016 / 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. 33–10056, 34–77408, IA–4353, • Send an email to rule-comments@ included in the agenda and that an
IC–32031, File No. S7–04–16] sec.gov. Please include File Number S7– agency is not required to consider or act
04–16 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
• Send paper comments to Brent J. complete a number of rulemakings in
SUMMARY: The Securities and Exchange
Fields, Secretary, Securities and the next year, the precise dates for each
Commission is publishing the Chair’s
Exchange Commission, 100 F Street NE., rulemaking at this point are uncertain.
agenda of rulemaking actions pursuant
Washington, DC 20549–1090. Actions that do not have an estimated
to the Regulatory Flexibility Act (RFA)
date are placed in the long-term
(Pub. L. 96–354, 94 Stat. 1164) (Sep. 19, All submissions should refer to File No.
category; the Commission may
1980). The items listed in the Regulatory S7–04–16. This file number should be
nevertheless act on items in that
Flexibility Agenda for Spring 2016 included on the subject line if email is
category within the next 12 months. The
reflect only the priorities of the Chair of used. To help us process and review
agenda includes new entries, entries
the U.S. Securities and Exchange your comments more efficiently, please
carried over from prior publications,
Commission, and do not necessarily use only one method. The Commission
and rulemaking actions that have been
reflect the view and priorities of any will post all comments on the
completed (or withdrawn) since
individual Commissioner. 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 18, 2016, 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’’—
The Commission is now printing in submissions. You should submit only Investment Advisers Act of 1940
the Federal Register, along with our information that you wish to make ‘‘Dodd Frank Act’’—Dodd-Frank Wall
preamble, only those agenda entries for available publicly. Street Reform and Consumer
which we have indicated that FOR FURTHER INFORMATION CONTACT: Protection Act
preparation of an RFA analysis is Anne Sullivan, Office of the General
required. ‘‘JOBS Act’’—Jumpstart Our Business
Counsel, 202–551–5019. Startups Act
The Commission’s complete RFA
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 11, 2016. the agency expects to consider in the By the Commission.
ADDRESSES: Comments may be next 12 months that are likely to have Dated: March 18, 2016.
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—PROPOSED RULE STAGE
Regulation
Sequence No. Title Identifier No.
408 .................... 10–K Summary Page ....................................................................................................................................... 3235–AL89
409 .................... Revisions to Smaller Reporting Company Definition ....................................................................................... 3235–AL90
DIVISION OF CORPORATION FINANCE—FINAL RULE STAGE
sradovich on DSK3TPTVN1PROD with PROPOSALS
Regulation
Sequence No. Title Identifier No.
410 .................... Pay Versus Performance ................................................................................................................................. 3235–AL00
411 .................... Amendments to Regulation D, Form D and Rule 156 Under the Securities Act ............................................ 3235–AL46
412 .................... Disclosure of Hedging by Employees, Officers and Directors ........................................................................ 3235–AL49
413 .................... Listing Standards for Recovery of Erroneously Awarded Compensation ....................................................... 3235–AK99
414 .................... Changes to Exchange Act Registration Requirements to Implement Title V and Title VI of the JOBS Act .. 3235–AL40
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![Federal Register / Vol. 81, No. 111 / Thursday, June 9, 2016 / Unified Agenda 37473
Regulatory Flexibility Analysis funds to use ‘‘swing pricing’’ and form Securities and Exchange Commission,
Required: Yes. amendments that enhance disclosure 100 F Street NE., Washington, DC
Agency Contact: Sara Cortes, Division regarding fund liquidity and redemption 20549, Phone: 202 551–5192, Email:
of Investment Management, Securities practices. bueschers@sec.gov.
and Exchange Commission, 100 F Street Timetable: RIN: 3235–AL75
NE., Washington, DC 20549, Phone: 202
551–6781, Email: cortess@sec.gov. Action Date FR Cite
RIN: 3235–AL42
NPRM .................. 10/15/15 80 FR 62274 SECURITIES AND EXCHANGE
418. Use of Derivatives by Registered NPRM Comment 01/13/16 COMMISSION (SEC)
Investment Companies and Business Period End.
Development Companies Final Action ......... 04/00/17 Division of Trading and Markets
Legal Authority: 15 U.S.C. 80a–c(c); Regulatory Flexibility Analysis Long-Term Actions
15 U.S.C. 80a–31(a); 15 U.S.C. 80a– Required: Yes. 421. Removal of Certain References to
12(a); 15 U.S.C. 80a–38(a); 15 U.S.C. Agency Contact: Sarah ten Siethoff, Credit Ratings Under the Securities
80a–8; 15 U.S.C. 80a–30; 15 U.S.C. 80– Division of Investment Management, Exchange Act of 1934
38 Securities and Exchange Commission,
Abstract: The Commission proposed a 100 F Street NE., Washington, DC Legal Authority: Pub. L. 111–203, sec
new rule designed to enhance the 20549, Phone: 202 551–6729, Email: 939A
regulation of the use of derivatives by tensiethoffs@sec.gov. Abstract: Section 939A of the Dodd
registered investment companies, RIN: 3235–AL61 Frank Act requires the Commission to
including mutual funds, exchange- remove certain references to credit
traded funds, closed-end funds and 420. Amendments to Form ADV and
Investment Advisers Act Rules ratings from its regulations and to
business development companies. The substitute such standards of
proposed rule would regulate registered Legal Authority: 15 U.S.C. 77s(a); 15 creditworthiness as the Commission
investment companies’ use of U.S.C. 77sss(a); 15 U.S.C. 78bb(e)(2); 15 determines to be appropriate. The
derivatives and require enhanced risk U.S.C. 78w(a); 15 U.S.C. 80a–37(a); 15 Commission amended certain rules and
management measures. U.S.C. 80b–3(c)(1) one form under the Exchange Act
Timetable: Abstract: The Commission proposed applicable to broker-dealer financial
amendments to Form ADV that are responsibility, and confirmation of
Action Date FR Cite designed to provide additional transactions. The Commission has not
information regarding advisers, yet finalized amendments to certain
NPRM .................. 12/28/15 80 FR 80884 including information about their
NPRM Comment 03/28/16 rules regarding the distribution of
separately managed account business; securities.
Period End.
Final Action ......... 04/00/17 incorporate a method for private fund
Timetable:
adviser entities operating a single
Regulatory Flexibility Analysis advisory business to register using a Action Date FR Cite
Required: Yes. single Form ADV; and make clarifying,
Agency Contact: Brian Johnson, technical and other amendments to NPRM .................. 05/06/11 76 FR 26550
Division of Investment Management, certain Form ADV items and NPRM Comment 07/05/11
Securities and Exchange Commission, instructions. The Commission also Period End.
proposed amendments to the Final Action ......... 01/08/14 79 FR 1522
100 F Street NE., Washington, DC
Investment Advisers Act books and Final Action Effec- 07/07/14
20549, Phone: 202 551–6740, Email: tive.
johnsonbm@sec.gov. records rule and technical amendments
RIN: 3235–AL60 to several Investment Advisers Act rules Next Action Unde- To Be Determined
to remove transition provisions that are termined.
419. Open-End Liquidity Risk no longer necessary.
Management Programs; Swing Pricing Timetable: Regulatory Flexibility Analysis
Legal Authority: 15 U.S.C. 80a–37(a); Required: Yes.
15 U.S.C. 80a–22(c); 15 U.S.C. 80a– Action Date FR Cite
Agency Contact: John Guidroz,
31(a); 15 U.S.C. 77a et seq.; 15 U.S.C.
NPRM .................. 06/12/15 80 FR 33718 Division of Trading and Markets,
77aaa et seq.; 15 U.S.C. 78a et seq.; 15 NPRM Comment 08/11/15 Securities and Exchange Commission,
U.S.C 80a et seq. Period End. 100 F Street NE., Washington, DC
Abstract: The Commission proposed a Final Action ......... 04/00/17 20549, Phone: 202 551–6439, Email:
new rule requiring open-end funds to
guidrozj@sec.gov.
adopt and implement liquidity Regulatory Flexibility Analysis
management programs. The Required: Yes. RIN: 3235–AL14
Commission also proposed rule Agency Contact: Sarah Buescher, [FR Doc. 2016–12968 Filed 6–8–16; 8:45 am]
amendments that permit open-end Division of Investment Management, BILLING CODE 8011–01–P
sradovich on DSK3TPTVN1PROD with PROPOSALS
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Document Created: 2018-02-08 07:33:39
Document Modified: 2018-02-08 07:33:39
| 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 11, 2016. | |
| Contact | Anne Sullivan, Office of the General Counsel, 202-551-5019. | |
| FR Citation | 81 FR 37470 |
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