Found 5 article(s) for author 'SEC'

The SEC Plans to Collect Too Much Information

The SEC Plans to Collect Too Much Information. Hal Scott, October 2, 2017, Opinion, “Is your personal information safe from the Securities and Exchange Commission? The SEC has mandated that U.S. stock exchanges and the Financial Industry Regulatory Authority establish a database by November 2018 that will store the names, birth dates, Social Security numbers and brokerage accounts of tens of millions of U.S. investors as part of the Consolidated Audit Trail.Link

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Is the SEC Captured? Evidence from Comment-Letter Reviews

Is the SEC Captured? Evidence from Comment-Letter Reviews. Jonas Heese, Karthik Ramanna, April 8, 2017, Paper, “SEC oversight of publicly listed firms ranges from comment letter (CL) reviews of firms’ reporting compliance to pursuing enforcement actions against violators. Prior literature finds that firm political connections (PC) negatively predict enforcement actions, inferring SEC capture. We present new evidence that firm PC positively predict CL reviews and substantive characteristics of such reviews, including the number of issues evaluated and the seniority of SEC staff involved. These results, robust to identification concerns, are inconsistent with SEC capture and indicate a more nuanced relation between firm PC and SEC oversight than previously suggested.Link

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SEC’s Non-Decision Decision on Corporate Political Activity a Policy and Political Mistake

SEC’s Non-Decision Decision on Corporate Political Activity a Policy and Political Mistake. John Coates, December 13, 2013, Opinion. “The SEC’s recent decision to take disclosure of political activities off the SEC’s agenda is a policy mistake, as it ignores the best research on the point, described below, and perpetuates a key loophole in the investor-relevant disclosure rules, allowing large companies to omit material information about the politically inflected risks they run with other people’s money. It is also a political mistake, as it repudiates the 600,000+ investors who have written to the SEC personally to ask it to adopt a rule requiring…Link verified March 28, 2014

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The SEC Delays its Consideration of Rules Requiring Disclosure of Corporate Political Spending

The SEC Delays its Consideration of Rules Requiring Disclosure of Corporate Political Spending. Lucian Bebchuk, December 2, 2013, Opinion. “Last week the Securities and Exchange Commission released its regulatory agenda, and this agenda no longer includes rules requiring public companies to disclose their spending on politics. The agenda now includes only overdue rules that the SEC is required to develop under Dodd-Frank and the JOBS Act. While we are disappointed by the SEC’s decision to delay its consideration of rules requiring disclosure of corporate political spending, we hope that the SEC will consider such rules as soon…” Link verified April 3, 2014

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Shining Light on Corporate Political Spending

Shining Light on Corporate Political Spending. Lucian Bebchuk, April 2013, Paper. “The Securities and Exchange Commission (SEC) is currently considering a rule making petition requesting that the SEC develop rules requiring that public companies disclose their spending on politics. The petition, which was submitted by a committee of ten corporate law professors that we co-chaired, has received unprecedented support, including comment letters from nearly half a million individuals. At the same time, the petition has also attracted opponents, including prominent members of Congress…”  Link verified April 2013

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