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Category: Securities

SEC’s Rollback of Trump-Era Requirements Will Make It Easier for Investors to Receive Independent Advice on Proxy Votes

WASHINGTON, D.C.—Following Better Markets’ recommendations in its December 2021 comment letter, today the SEC rescinded provisions of a 2020 rule that stifled the availability of independent and timely advice for shareholders exercising their proxy voting rights. Legal Director and Securities Specialist Stephen Hall issued the following statement on the rule: “The SEC’s rule is a […]

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Better Markets Applauds SEC Prioritizing Investor Protection in Rejecting a Crypto ETF Due to Susceptibility to Fraud and Manipulative Practices

WASHINGTON, D.C.— Dennis M. Kelleher, President and CEO, issued the following statement in response to the Securities and Exchange Commission’s (SEC) rejection of a crypto exchange traded fund (ETF): “The SEC’s overriding mission is to protect investors and that could not be more important than now after more than $2 trillion have been lost in […]

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We Support the SEC’s Climate-Risk Disclosure Proposal, a Very Strong Measure That Can Be Made Even Better

WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ Comment Letter to the Securities and Exchange Commission in response to the agency’s proposal to enhance the disclosure of the climate-related risks facing companies: “No company will be able to escape the financial consequences of climate change, […]

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Better Markets Praises Confirmation of SEC Nominees Lizárraga and Uyeda

WASHINGTON, D.C.— Dennis M. Kelleher, President and CEO, issued the following statement upon the Senate’s confirmation of President Biden’s nominees Jamie Lizárraga and Mark Uyeda to serve as commissioners at the Securities and Exchange Commission: “We applaud the Senate for confirming President Biden’s nominees Jamie Lizárraga and Mark Uyeda to serve as commissioners at the […]

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After Years of Ripping Off Investors, SEC Proposal Takes Away SPAC’s License to Lie

WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ Comment Letter to the Securities and Exchange Commission (SEC) in response to the agency’s proposed rule that enhances investor protections and brings “Special Purpose Acquisition Companies” (“SPACs”) into closer regulatory alignment with traditional IPOs: “90 percent of […]

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SEC Proposal Will Bring Transparency and Accountability to Security-Based Swaps Market, But Some Gaps Would Remain

WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ Comment Letter to the Securities and Exchange Commission in response to the agency’s proposed rules on security-based swap execution facilities: “These rules have taken years to develop but they will finally establish a critical set of reforms we need […]

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Op-Ed in Financial Planning: The Department of Labor Must Do More to Protect Retirement Savers

WASHINGTON, D.C.— Better Markets’ Legal Director and Securities Specialist Steve Hall and Christine Lazaro, Professor of Clinical Legal Education and Director of the Securities Arbitration Clinic at St. John’s University School of Law, highlight the urgent need for the U.S. Department of Labor to strengthen protections for retirement investors and require financial advisors always to act […]

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SEC Proposal Would Bring Much Needed Oversight and Transparency to the Activities of High-Frequency Traders

WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ Comment Letter to the Securities and Exchange Commission (SEC) in response to the agency’s proposed rule to modernize and expand the definition of those firms that are “dealers” or “government securities dealers” subject to SEC regulation: “This […]

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SEC Proposal Would Establish Comprehensive Cybersecurity Disclosure Requirements for the Benefit of Investors

WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ Comment Letter to the Securities and Exchange Commission (SEC) in response to the agency’s proposed rule that would establish comprehensive cybersecurity disclosure requirements for publicly traded companies: “This proposal represents a major step forward in making sure […]

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SEC Must Close Loopholes in Proposal to Ensure Short Selling Comes Out of the Shadows

WASHINGTON, D.C.—Legal Director and Securities Specialist Stephen Hall issued the following statement on the filing of Better Markets’ Comment Letter to the Securities and Exchange Commission (SEC) in response to the agency’s proposal to bring more transparency to short selling activity: “To protect investors and markets, short selling transparency must be increased.  Disclosures must be […]

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