Senate Banking Committee Ranking Member Pat J. Toomey urged Congress to pass the "Investor Democracy is Expected Act" to address "problems of asset managers voting other people's shares and their consolidation of corporate voting power."
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The SEC reopened the comment period for a proposal that would establish listing standards for clawback policies of erroneously awarded compensation. Comments are now due by July 14, 2022. The notice was published in the Federal Register.
In an Investor Bulletin, the SEC Office of Investor Education and Advocacy offered guidance to customers on the use of arbitration to resolve disputes with their broker-dealers.
An investment adviser settled SEC charges for entering into short positions in seven public offerings during a restricted offering period in advance of stock offerings.
A wealth management firm settled NYSE charges for failing to reasonably design market access controls to prevent entry of erroneous order management systems.