Requests for Comment

Public comment sought on consolidated audit trail proposal. The SEC voted to publish for public comment a proposed national market system (NMS) plan to create a single, all-inclusive database that would allow regulators to more easily find market manipulation and probe the causes of extreme bouts of market disruption. The plan for the database, which is known as the consolidated audit trail, was submitted jointly by the self-regulatory organizations as required by Rule 613 of Regulation NMS. Public comments on the proposal should be received by the SEC within 60 days of its publication in the Federal Register. (4/27/2016) See Chair White statement, Commissioner Piwowar statement and Commissioner Stein statement. See also The Wall Street Journal

SEC is requesting comments on ICE Trade Vault’s application for registration as a security-based SDR. The SEC is requesting comments on ICE Trade Vault’s application for registration as a security-based swap data repository (SDR) under Sec. 13(n) of the Securities Exchange Act of 1934. ICE Trade Vault is currently regulated and provisionally registered by the CFTC. Comments should be submitted on or before May 31, 2016. (4/22/2016) SEC Release No. 34-77699.


Information for Form ABS-EE filings is published. The SEC published Compliance and Disclosure Interpretations that relate to the filing of asset-level disclosures on Form for Submission of Electronic Exhibits for Asset-Backed Securities (Form ABS-EE). (4/28/2016)

Speeches and Statements

Chair White says that recommendations are necessary to SEC proposals for improving equity market structure. In opening remarks at the Equity Market Structure Advisory Committee Meeting, SEC Chair Mary Jo White discussed the importance of receiving recommendations from the Committee and Subcommittees on the SEC’s proposals for improving equity market structure. Also at that meeting, SEC Commissioner Michael S. Piwowar discussed four of the Subcommittees’ recommendations. (4/26/2016) Commissioner Stein Remarks.

House Financial Services Subcommittee reviews activities of SEC divisions and offices during testimony. The directors and heads of several SEC divisions and offices, including the Division of Economic Risk and Analysis, the Office of Compliance Inspections and Examinations, the Office of Credit Ratings, and the Office of the Whistleblower, testified before the US House Financial Services Subcommittee on Capital Markets and Government Sponsored Entities to review the responsibilities and recent activities of their respective divisions and offices. (4/21/2016) SEC directors’ testimony.

Other Developments

SEC report on 2015 forum on small business capital formation. The SEC published its final report regarding the 2015 SEC Government-Business Forum on Small Business Capital Formation. (5/2/2016) SEC report. 

Meeting on Small and Emerging Markets will be held. The SEC’s Advisory Committee on Small and Emerging Markets is holding a public meeting on May 18, 2016 beginning at 9:30am EST at the SEC’s headquarters in Washington, DC. The agenda includes matters relating to rules and regulations affecting small and emerging companies under the federal securities laws. Written statements should be received by the SEC on or before May 16, 2016. (4/29/2016) SEC Release No. 33-10074.

Revisions to EDGAR Filer Manual are adopted. The SEC has adopted revisions to the Electronic Data Gathering, Analysis, and Retrieval System (EDGAR) Filer Manual and related rules to reflect EDGAR system updates. The revisions and related rules will become effective upon publication in the Federal Register. (4/27/2016) SEC Release No. 33-10071.

Money market fund statistics. The SEC’s Division of Investment Management published updated money market fund statistics as of March 31, 2016. (4/20/2016)