SEC Officials Raise Concerns About Lifting Advertising Ban
Additional investor safeguards should be considered, say two of the five SEC commissioners.
Tag Archives: SEC
AFR Analysis of SEC Memo on Exchange-Traded Funds Linked to Copper
SEC staff memo is faulted for ignoring significant issues and overlooking evidence pointing to the price impacts of copper-supply hoarding.
Comment Letter on Stable Value Contracts
In a joint letter, AFR urges the SEC and CFTC not to exempt this common type of financial guarantee, which closely resembles a swap, from new derivatives rules.
Comment Letter on S.E.C. Rules Change Involving Exchange Traded Fund (ETF) Linked to Copper
In an Oct. 23 letter, AFR urged the Securities and Exchange Commission not to to approve the organization and marketing of a commodity Exchange Traded Fund based on the storage of physical copper. Allowing speculators to hoard this vital industrial metal would damage the economy and set a dangerous precedent, the letter warned.
AFR in the News: SEC Jobs Act Rule Comes Under Fire
In a telephone press conference co-hosted by Americans for Financial Reform, investor advocates and the president of a state securities regulators’ group sharply criticized the SEC’s proposed rule to permit the mass marketing of private stock offerings. The four speakers were united in asking the
AFR Press Statement: Investor Advocates and State Securities Regulators Call on SEC to Rethink JOBS Act Rule
In a press-teleconference this afternoon, Arkansas State Securities Commissioner Heath Abshure, who is also president of the North American Securities Administrators Association, joined three investor advocates in sharply criticizing the Securities and Exchange Commission’s first JOBS Act rulemaking – one that allows the mass marketing
AFR and AFL-CIO Oppose Anti-Investor JOBS Act General Solicitation Rule
In a joint comment letter submitted today to the Securities and Exchange Commission, AFR and AFL-CIO expressed strong opposition to the agency’s proposed rule lifting the ban on general solicitation and advertising in private offerings. The groups called on the SEC to withdraw the rule proposal and issue a new rule incorporating reasonable safeguards to protect investors and promote market integrity.
More than 50 Organizations and Individuals Sign Letter of Opposition to S. 3468
AFR joined more than 50 organizations and individuals in signing onto a letter opposing S. 3468. The Independent Regulatory Analysis Act (S.3468) is a far-ranging proposal that would create major changes and lead to significant delays in the work of independent agencies. As all the major financial regulatory agencies are independent agencies this would have a profound effect on the progress of financial reform at agencies ranging from the Federal Reserve to the Securities and Exchange Commission.
AFR Press Statement: SEC JOBS Act Proposal Fails to Address Investor Safety Concerns
Earlier today, the Securities and Exchange Commission (SEC) voted 4-1 to issue a proposed rule implementing the provision of the JOBS Act that allows the “general solicitation and advertising” (GS&A) of private stock offerings. Commissioner Luis Aguilar voted against releasing the proposal, pointing out that it did not include any of the enhanced protections suggested by commenters (such as CFA and AFR) to address the significantly increased investor vulnerability that will result from lifting the long-standing ban on these practices.
Consumer Federation of America Press Statement In Response to SEC Announcement Regarding JOBS Act Rulemaking
In a major victory for investors, SEC Chairman confirmed earlier today that the Commission was changing course and would follow the traditional rulemaking procedures – proposing a rule and offering an opportunity for public comment – before lifting the solicitation ban.