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  • SEC Approves Generic Listing Standards For Commodity-Based Trust Shares

    Date 17/09/2025

    The Securities and Exchange Commission today voted to approve proposed rule changes by three national securities exchanges to adopt generic listing standards for exchange-traded products that hold spot commodities, including digital assets. As a result, the exchanges may list and trade Commodity-Based Trust Shares that meet the requirements of the approved generic listing standards without first submitting a proposed rule change to the Commission pursuant to Section 19(b) of the Exchange Act.

  • Staying In Our Lane: Statement On Two Recommendations From The Division Of Corporation Finance, SEC Commissioner Hester M. Peirce, Sept. 17, 2025

    Date 17/09/2025

    Thank you, Mr. Chairman, Cicely [LaMothe], John [Fieldsend], and Rob [Fisher]. Thank you also to the staff in the Division of Corporation of Finance, Division of Investment Management, Division of Economic and Risk Analysis, and Office of the General Counsel who worked on these items. Cicely, given that a permanent director has been named, I wanted to take a moment to thank you for your leadership of the Division. Working with you has been a delight. You promote others rather than yourself, and you follow through on what you say. Your no-nonsense leadership style has enabled the Division to be productive during this transition period. You do not shy away from problems; you solve them sensibly.

  • SEC Issues Policy Statement Clarifying that Mandatory Arbitration Provisions Will Not Affect Effectiveness Of Registration Statements

    Date 17/09/2025

    The Securities and Exchange Commission today published a policy statement to announce that decisions about whether to accelerate the effectiveness of a registration statement will not be affected by the presence of a provision requiring arbitration of investor claims arising under the federal securities laws.

  • CFTC Obtains $1.2M For Fraud Victims, $2.8M Overall From Florida Commodity Firm, Owner

    Date 17/09/2025

    The Commodity Futures Trading Commission today announced the U.S. District Court for the Southern District of Florida ordered Systematic Alpha Management LLC, a registered commodity trading advisor and commodity pool operator, and Peter Kambolin, its owner and registered associated person, to pay more than $2.8 million for defrauding commodity pool participants.

  • Time To Fix the Form: Statement On Further Extension Of Compliance Date For Form PF, SEC Commissioner Hester M. Peirce, Sept. 17, 2025

    Date 17/09/2025

    Thank you, Mr. Chairman and Brian [Daly] and Rob [Fisher]. Congratulations, Brian, on your first rulemaking as Director of the Division of Investment Management. I support extending the compliance date for the February 8, 2024 amendments to Form PF[1] to October 1, 2026.[2] I welcome today’s action as evidence of a commitment to conduct a substantive review of Form PF and, if there are substantial questions of fact, law, and policy, to take any further appropriate actions, which may include proposing new amendments to Form PF.[3] I would, have preferred a longer extension to better accommodate a fundamental rethinking of the form to ensure its consistency with law and rationality.