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MIAX Option: Change To The Live Quote Window Time For he SPIKES Settlement Auction

Date 26/10/2022

Beginning on November 16, 2022, MIAX Options will change the Live Quote Window (“LQW”) opening time to 8:30:00 AM ET for SPY options used in calculating the SPIKES Settlement Price.
Outsourcing Fiduciary Duty To the Commission: Statement On Proposed Outsourcing By Investment Advisers, SEC Commissioner Hester M. Peirce Oct. 26, 2022

Date 26/10/2022

Thank you Chair Gensler. Investment advisers are fiduciaries to their clients, so why are we giving them step-by-step instructions on how to do their jobs? If we think Congress got it wrong—that investment advisers cannot, absent regulatory handholding, serve their clients faithfully—then we should tell Congress. The approach we are taking—incrementally displacing their judgment with our own—is neither statutorily grounded nor protective of investors. I could have supported Commission guidance highlighting the importance of an adviser’s ongoing obligations to its clients when it has engaged a service provider. I cannot support repackaging existing fiduciary obligations into a new set of prescriptions for investment advisers.
Accountability In An Evolving Asset Management Industry, SEC Commissioner Jaime Lizárraga, Oct. 26, 2022

Date 26/10/2022

Today, the Commission is proposing a set of key reforms that would bring accountability and enhanced investor protections when an investment adviser outsources its activities. I am pleased to support today’s proposal.
Modernizing Mutual Fund And ETF Disclosures For Investors, SEC Commissioner Jaime Lizárraga, Oct. 26, 2022

Date 26/10/2022

Today, the Commission is adopting key disclosure reforms for the approximately $26 trillion mutual fund industry and $5 trillion exchange-traded fund (ETF) industry. Because of these reforms, investors will now receive information about a fund’s operations and activities in a more concise, engaging, and usable way.
SEC Proposes New Oversight Requirements For Certain Services Outsourced By Investment Advisers

Date 26/10/2022

The Securities and Exchange Commission today proposed a new rule and rule amendments under the Investment Advisers Act of 1940 to prohibit registered investment advisers from outsourcing certain services and functions without conducting due diligence and monitoring of the service providers.

NGX Builds Capital Market Capacity On Finance Act

Date 26/10/2022

As part of its commitment to building the capacity of stakeholders in the capital market, Nigerian Exchange Limited (NGX or The Exchange) organised a webinar on the impact of the 2021 Finance Act on the operating environment.
Statement On Proposed Amendments Regarding Service Providers Oversight, SEC Chair Gary Gensler, Oct. 26, 2022

Date 26/10/2022

Today, the Commission is considering whether to adopt proposals regarding investment advisers’ use of third-party service providers. I think that these rules, if adopted, would better protect investors by requiring that investment advisers take steps to continue to meet their fiduciary and other legal obligations regardless of whether they are providing services in-house or through outsourcing, whether through third parties or affiliates.
Statement On Final Rule Amendments Regarding Shareholder Reports, SEC Chair Gary Gensler, Oct. 26, 2022

Date 26/10/2022

Today, the Commission is considering whether to adopt final rule amendments that update and modernize funds’ shareholder reports and make certain other updates regarding how funds advertise to investors. I am pleased to support these final rules because, if adopted, they would help investors better understand fund disclosures and help ensure that the information investors receive in investment company advertisements is transparent and balanced.
Statement On Final Rules Regarding Clawbacks Of Erroneously Awarded Compensation, SEC Chair Gary Gensler, Oct. 26, 2022

Date 26/10/2022

Today, the Commission is considering adopting final rules mandated by the Dodd-Frank Act regarding clawbacks of erroneously awarded incentive-based compensation. I believe that these rules, if adopted, would strengthen the transparency and quality of corporate financial statements, investor confidence in those statements, and the accountability of corporate executives to investors.
Canadian Securities Regulators Publish Investor Education In Canada 2022 Activity Report - Report Highlights Investor Education Initiatives Intended To Help Canadians Make Informed Financial Decisions

Date 26/10/2022

The Canadian Securities Administrators (CSA) today published Investor Education in Canada 2022 to mark Investor Education Month in October. This annual report highlights the national, provincial and territorial efforts in investor education from June 2021 to July 2022.