The U.S. House of Representatives passed the Marijuana Opportunity Reinvestment and Expungement Act of 2019, which removes marijuana from the scheduled substances list under the Controlled Substances Act, and decriminalizes the manufacturing, distribution and possession of marijuana.
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Congress passed the Holding Foreign Companies Accountable Act, which would require a "foreign issuer" to disclose if its registered public accounting firm is located in a foreign jurisdiction that prevents the Public Company Accounting Oversight Board from conducting audit inspections.
A national restaurant chain settled SEC charges for material omissions in its public disclosures concerning the impact of the COVID-19 pandemic on business operations.
The SEC "Strategic Hub for Innovation and Financial Technology" will become a stand-alone office.
The Alternative Reference Rate Committee issued a "Guide on the Endgame for USD LIBOR."