SEC rule making as a result of congressional laws, shareholder protection, orderly markets, sound clearance and settlement system. In addition, the SEC approves rules submitted by various SROs (Self Regulatory Organization).

Why Issuers Should Care

• Rules filed and approved by the SEC for certain SRO’s such as the NYSE, NASDAQ, FINRA, and DTC can affect the issuer’s responsibility, the transfer agents responsibility or both.
• Rules created and approved by the SEC can affect the issue’s responsibility, the transfer agent’s responsibility or both.
• Failure to comply with rules will result in penalty fines and could lead to other regulatory actions.

Links

• SEC Rulemaking Index
• Proposed Rule Amendments for Small and Additional Issues Exemptions Under Section 3(b) of the Securities Act
• Proposed Rule on Crowdfunding
• Proposed Rule System Compliance and Integrity (SCI) – transfer agent red flag monitoring when issuing new shares
• Proposed Rule on Pay Ratio Disclosure
• Final Rule: Delegation of Authority to the Chief Financial Officer
• Final Rule: Lost Securityholders and Unresponsive Payees
• Final Rule: NYSE amending rules 451 and 465 – reimbursement of proxy fees and setting new fee structure