[Federal Register Volume 79, Number 245 (Monday, December 22, 2014)]
[Proposed Rules]
[Pages 76860-76863]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2014-28993]
[[Page 76859]]
Vol. 79
Monday,
No. 245
December 22, 2014
Part XXV
Securities and Exchange Commission
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Semiannual Regulatory Agenda
Federal Register / Vol. 79 , No. 245 / Monday, December 22, 2014 /
Unified Agenda
[[Page 76860]]
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SECURITIES AND EXCHANGE COMMISSION
17 CFR Ch. II
[Release Nos. 33-9663, 34-73341, IA-3945, IC-31283, File No. S7-10-14]
Regulatory Flexibility Agenda
AGENCY: Securities and Exchange Commission.
ACTION: Semiannual regulatory agenda.
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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 Fall 2014
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 October 10, 2014, 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 January 21, 2015.
ADDRESSES: Comments may be submitted by any of the following methods:
Electronic Comments
Use the Commission's Internet comment form (http://www.sec.gov/rules/other.shtml); or
Send an email to [email protected]. Please include
File Number S7-10-14 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. S7-10-14. 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
The Commission invites public comment on the agenda and on the
individual agenda entries.
By the Commission.
Dated: October 10, 2014.
Kevin M. O'Neill,
Deputy Secretary.
Division of Corporation Finance--Proposed Rule Stage
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Regulation
Sequence No. Title Identifier No.
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557....................... Implementation of Titles V 3235-AL40
and VI of the JOBS Act.
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Division of Corporation Finance--Final Rule Stage
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Regulation
Sequence No. Title Identifier No.
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558....................... Rules Governing the Offer 3235-AL37
and Sale of Securities
Through Crowdfunding
Under Section 4(a)(6) of
the Securities Act.
559....................... Amendments to Regulation 3235-AL46
D, Form D and Rule 156
Under the Securities Act.
560....................... Treatment of Certain 3235-AL41
Communications Involving
Security-Based Swaps That
May be Purchased Only by
Eligible Contract
Participants.
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[[Page 76861]]
Division of Investment Management--Final Rule Stage
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Regulation
Sequence No. Title Identifier No.
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561....................... Temporary Rule Regarding 3235-AL56
Principal Trades With
Certain Advisory Clients.
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Division of Trading and Markets--Long-Term Actions
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Regulation
Sequence No. Title Identifier No.
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562....................... Removal of Certain 3235-AL14
References to Credit
Ratings Under the
Securities Exchange Act
of 1934.
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Division of Trading and Markets--Completed Actions
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Regulation
Sequence No. Title Identifier No.
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563....................... Rules for Nationally 3235-AL15
Recognized Statistical
Rating Organizations.
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SECURITIES AND EXCHANGE COMMISSION (SEC)
Division of Corporation Finance
Proposed Rule Stage
557. Implementation of Titles V and VI of the Jobs Act
Legal Authority: Pub. L. 112-106
Abstract: The Division is considering recommending that the
Commission propose rules or amendments to rules to implement titles V
(Private Company Flexibility and Growth) and VI (Capital Expansion) of
the JOBS Act.
Timetable:
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Action Date FR Cite
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NPRM................................ 10/00/15 .......................
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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
Final Rule Stage
558. 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:
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Action Date FR Cite
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NPRM................................ 11/05/13 78 FR 66428
NPRM Comment Period End............. 02/03/14 .......................
Final Action........................ 10/00/15 .......................
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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
559. 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:
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Action Date FR Cite
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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........................ 10/00/15 .......................
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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
560. Treatment of Certain Communications Involving Security-Based Swaps
That May Be Purchased Only by Eligible Contract Participants
Legal Authority: 15 U.S.C. 77e; 15 U.S.C. 77s; 15 U.S.C. 77z-3
Abstract: The Commission proposed a rule under the Securities Act
to address the treatment of certain communications involving security-
based swaps that may be purchased only by eligible contract
participants.
Timetable:
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Action Date FR Cite
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NPRM................................ 09/11/14 79 FR 54224
NPRM Comment Period End............. 11/10/14 .......................
Final Action........................ 10/00/15 .......................
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Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Andrew Schoeffler, Division of Corporation Finance,
[[Page 76862]]
Securities and Exchange Commission, 100 F Street NE., Washington, DC
20549, Phone: 202 551-3860.
RIN: 3235-AL41
SECURITIES AND EXCHANGE COMMISSION (SEC)
Division of Investment Management
Final Rule Stage
561. 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 the principal trading restrictions in section 206(3) of
the Investment Advisers Act, will expire on December 31, 2014. The
Commission proposed a temporary rule to extend that date to December
31, 2016.
Timetable:
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Action Date FR Cite
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NPRM................................ 08/18/14 79 FR 48709
NPRM Comment Period End............. 09/17/14 .......................
Next Action......................... 12/00/14 .......................
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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
562. 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:
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Action Date FR Cite
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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 .......................
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Next Action Undetermined............ To Be Determined
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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
SECURITIES AND EXCHANGE COMMISSION (SEC)
Division of Trading and Markets
Completed Actions
563. Rules for Nationally Recognized Statistical Rating Organizations
Legal Authority: 15 U.S.C. 78o-7; 15 U.S.C. 78q; 15 U.S.C. 78mm;
Pub. L. 111-203, secs 936, 938, and 943
Abstract: The Commission adopted rules and rule amendments to
implement certain provisions of the Dodd Frank Act concerning
nationally recognized statistical rating organizations, providers of
third-party due diligence services for asset-backed securities, and
issuers and underwriters of asset-backed securities.
Timetable:
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Action Date FR Cite
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NPRM................................ 06/08/11 76 FR 33420
NPRM Comment Period End............. 08/08/11 .......................
Final Action........................ 09/15/14 79 FR 55078
Final Action Effective.............. 11/14/14 .......................
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Regulatory Flexibility Analysis Required: Yes.
Agency Contact: Raymond Lombardo, Division of Trading and Markets,
Securities and Exchange Commission, 100 F Street NE., Washington, DC
20549, Phone: 202 551-5755, Email: [email protected].
RIN: 3235-AL15
[FR Doc. 2014-28993 Filed 12-19-14; 8:45 am]
BILLING CODE 8011-01-P