SEC No-Action Letter: MegPrime Holding LLC Token Offering
The SEC's Division of Corporation Finance issued a no-action letter to MegPrime Holding LLC regarding its token offering. The Division stated it would not recommend enforcement action if MegPrime proceeds with the offering as described, without registration under the Securities Act or Exchange Act.
SEC - Archer-Daniels-Midland Co. Waiver Request for Ineligible Issuer Status
The SEC is considering a waiver request from Archer-Daniels-Midland Co. (ADM) to maintain its Well-Known Seasoned Issuer (WKSI) status, despite a recent settlement for violations of securities laws. ADM seeks to avoid being classified as an 'ineligible issuer' for three years following the settlement.
SEC Grants DigitalBridge Waiver of Ineligible Issuer Status
The SEC's Division of Corporation Finance granted DigitalBridge Group, Inc. a waiver from being considered an "ineligible issuer" under Rule 405 of the Securities Act of 1933. This waiver is due to a prior Commission order against its subsidiary, Colony Capital Investment Advisors, LLC.
SEC No-Action Letter: DoubleZero Programmatic Transfers
The SEC's Division of Corporation Finance issued a no-action letter to DoubleZero regarding Programmatic Transfers. The Division will not recommend enforcement action if these transfers are conducted as described, meaning they will not require registration under the Securities Act or Exchange Act.
SEC No-Action Letter for Fuse Crypto Limited
The SEC's Division of Corporation Finance issued a no-action letter to Fuse Crypto Limited, stating it will not recommend enforcement action if Fuse offers and sells its Tokens without registration under the Securities Act and Exchange Act. This guidance is based on the specific facts presented in Fuse's request.
SEC Grants Capitolis Relief from Audited Financial Filing
The SEC's Division of Trading and Markets will not recommend enforcement action if Capitolis Global Broker Dealer LLC does not file its audited annual financial statements for the fiscal year ending January 31, 2026. This relief is contingent on the firm's audited financial reports for the subsequent fiscal year covering the entire period since its registration.
SEC No-Action Relief for Cboe BYX Exchange Rule Modification
The SEC's Division of Trading and Markets has issued no-action relief to Cboe BYX Exchange regarding modifications to its Retail Price Improvement Program. This relief extends to the program's expansion to include securities priced below $1.00, ensuring continued no-action stance on Rule 602 of Regulation NMS.
SEC No-Action Letter for Raymond James Capital Balance Funds
The SEC's Division of Trading and Markets issued a no-action letter to Raymond James & Associates, Inc. (RJA) regarding Rule 17a-13. The letter states the staff will not recommend enforcement action if RJA reconciles capital balance funds according to specified conditions, addressing unique reporting for these alternative investments.
SEC Grants Vestwell Securities Relief from Annual Audit Filing
The SEC's Division of Trading and Markets will not recommend enforcement action against Vestwell Securities, LLC if it does not file its 2025 audited annual financial statements. This relief is granted based on specific representations made by the firm regarding its operational status and plans.
SEC No-Action Letter: DTC Tokenization Services Pilot
The SEC's Division of Trading and Markets issued a no-action letter to The Depository Trust Company (DTC) regarding its pilot program for tokenization services. This guidance allows DTC to proceed with developing and testing its DTCC Tokenization Services using distributed ledger technology for security entitlements.
SEC Grants Eagle Life Insurance SAP Filing Permission
The SEC's Division of Investment Management granted Eagle Life Insurance Company permission to file audited financial statements prepared under statutory accounting principles (SAP) instead of GAAP in its Form S-1 registration statements. This guidance applies to specific index-linked annuity contracts.
SEC grants Pacific Life permission to file SAP financial statements
The SEC's Chief Accountant's Office granted Pacific Life Insurance Company and Pacific Life & Annuity Company permission to file audited financial statements prepared in accordance with statutory accounting principles (SAP) instead of GAAP. This applies to specific annuity contracts filed on Form S-1.
SEC Grants SAP Financial Statement Filing for Life Insurers
The SEC's Chief Accountant's Office granted a request from American General Life Insurance Company and two affiliates to file financial statements prepared under statutory accounting principles (SAP) instead of GAAP for certain annuity contracts on Form S-1 registration statements. This permission is specific to the described non-variable annuity contracts and requires notification for future filings.
SEC Guidance: Insurance Companies May File SAP Financial Statements for Index-Linked Policies
The SEC's Division of Investment Management issued guidance allowing insurance companies to file financial statements prepared under statutory accounting principles (SAP) instead of GAAP for certain index-linked policies and contingent deferred annuities. This permission is subject to specific representations and acknowledgments filed with the SEC.
SEC No-Action Letter: Jackson National Life Insurance SAP Financial Statements
The SEC's Division of Investment Management granted Jackson National Life Insurance Company and Jackson National Life Insurance Company of New York permission to file financial statements prepared under statutory accounting principles (SAP) instead of GAAP. This applies to specific annuity contracts filed on Form S-1.
SEC Commission Orders and Notices
The SEC has published various commission orders and notices for March 2026, including applications for registration as a clearing agency, adjustments to transaction fee rates, and whistleblower award claims. These notices provide information on ongoing regulatory processes and decisions.
SEC Investment Advisers Act Exemptions, Notices, and Orders
The SEC has issued notices and orders granting exemptions under the Investment Advisers Act of 1940. These notices pertain to specific applications filed by investment advisers, such as Parametric Portfolio Associates LLC and True Venture Management, L.L.C., for exemptions from certain rules.
SEC Investment Company Act Notices and Orders
The SEC has published a list of recent notices and orders related to the Investment Company Act of 1940. These documents provide specific approvals and information for various investment companies and their transactions.
SEC Investment Company Act Deregistration Notices and Orders
The SEC has published notices and orders related to the deregistration of several investment companies under the Investment Company Act of 1940. These notices, dated February 27, 2026, provide details on applications for deregistration filed by various funds.
SEC Exchange Act Exemptive Orders and Notices
The SEC has issued several exemptive orders and notices related to the Securities Exchange Act of 1934. These documents provide exemptions from specific rules for various entities, including foreign private issuers and exchanges, and some are accompanied by requests for public comment.
SEC Staff Legal Bulletin 21: Antifraud Provisions for Municipal Securities
The SEC's Office of Municipal Securities has published Staff Legal Bulletin No. 21 to clarify the application of antifraud provisions to public statements made by municipal issuers in the secondary market. The bulletin emphasizes that these provisions apply to any statement reasonably expected to reach investors and the trading markets, aiming to enhance investor protection and disclosure practices.
SEC Staff Legal Bulletin on Rule 14a-8 Shareholder Proposals
The SEC's Division of Corporation Finance published Staff Legal Bulletin No. 14K to provide guidance on Rule 14a-8 concerning shareholder proposals. The bulletin clarifies the analytical framework for excluding proposals under the ordinary business operations exception and addresses issues related to micromanagement and proof of ownership.
SEC Shareholder Proposals Staff Legal Bulletin 14J
The SEC's Division of Corporation Finance published Staff Legal Bulletin No. 14J to provide guidance on Rule 14a-8 concerning shareholder proposals. The bulletin clarifies the division's views on board analyses for excluding proposals based on economic relevance or ordinary business exceptions, and the application of micromanagement and compensation-related exclusions.
SEC Staff Legal Bulletin 14L on Shareholder Proposals
The SEC's Division of Corporation Finance has published Staff Legal Bulletin 14L, updating guidance on Rule 14a-8 shareholder proposals. This bulletin rescinds prior guidance and clarifies the application of the ordinary business and economic relevance exceptions, aiming to simplify the no-action request process.
SEC Shareholder Proposals Staff Legal Bulletin 14M
The SEC's Division of Corporation Finance has published Staff Legal Bulletin No. 14M, providing updated guidance on Rule 14a-8 concerning shareholder proposals. This bulletin rescinds previous guidance (SLB 14L) and clarifies the application of rules related to economic relevance and ordinary business operations.
SEC Sample Letter on China-Specific Disclosures
The SEC's Division of Corporation Finance issued a sample letter reminding China-based public companies of their disclosure obligations under the Holding Foreign Companies Accountable Act (HFCAA) and federal securities laws. The guidance focuses on risks related to the PRC government's role, variable interest entity structures, and forced labor concerns.
SEC COVID-19 Disclosure Considerations for Company Operations
The SEC's Division of Corporation Finance issued guidance on COVID-19 disclosure considerations for public companies regarding operations, liquidity, and capital resources. This guidance, originally issued on June 23, 2020, has since been withdrawn.
SEC Guidance on COVID-19 Business Disclosures
The SEC's Division of Corporation Finance issued guidance on COVID-19 business disclosures on March 25, 2020. This guidance has since been withdrawn as of May 6, 2025, indicating it is no longer current.
SEC Sample Letter on XBRL Disclosures
The SEC's Division of Corporation Finance has issued a sample letter providing illustrative comments on XBRL and Inline XBRL disclosures for companies. This guidance aims to improve the quality of corporate financial data filed under the Securities Act and Exchange Act, particularly in light of the Financial Data Transparency Act.
SEC Sample Letter on Crypto Asset Market Developments (Withdrawn)
The SEC has withdrawn a sample letter issued in December 2022 that provided guidance to companies on their disclosure obligations related to crypto asset market developments. The letter, which was intended to help companies assess and disclose the impact of market events on their business, is no longer considered current guidance.
SEC Securities Act Forms Compliance and Disclosure Interpretations
The SEC's Division of Corporation Finance has updated its Compliance and Disclosure Interpretations (C&DIs) related to Securities Act Forms. The latest update, dated March 6, 2026, revises existing interpretations and includes Q&As on general applicability, form eligibility, prospectus graphic presentations, and financial information for Emerging Growth Companies.
SEC Securities Act Rules Compliance and Disclosure Interpretations Updated
The SEC's Division of Corporation Finance has updated its Compliance and Disclosure Interpretations (C&DIs) for Securities Act Rules. The latest update, dated March 6, 2026, clarifies guidance on using hyperlinks for required statements in electronic communications, particularly on social media platforms with character limitations.
SEC Regulation S-K Interpretations Updated
The SEC's Division of Corporation Finance has updated its Compliance & Disclosure Interpretations (C&DIs) for Regulation S-K. The latest update, dated March 6, 2026, revises some existing interpretations and adds new ones, primarily clarifying definitions for smaller reporting companies and accelerated filers.
SEC Staff Interpretations of Regulation Crowdfunding
The SEC staff has updated its Compliance and Disclosure Interpretations (C&DIs) for Regulation Crowdfunding. These updates provide staff interpretations on topics such as issuer communications prior to filing Form C and investment limits for non-natural persons. The guidance is non-binding and subject to change.
SEC HFIA Act FAQs on Foreign Issuer Obligations
The SEC's Division of Corporation Finance released Frequently Asked Questions (FAQs) regarding the Holding Foreign Insiders Accountable Act (HFIA Act). These FAQs clarify obligations for foreign private issuers and their directors/officers concerning Section 16(a) filings, with a key deadline of March 18, 2026.
SEC Disclosure Guidance Topics
The SEC has updated its disclosure guidance page, consolidating various topics related to financial disclosures. Several guidance topics have been withdrawn, with specific dates noted for their supersession or withdrawal.
SEC Division of Investment Management Frequently Asked Questions
The SEC's Division of Investment Management has published an updated list of Frequently Asked Questions (FAQs) addressing various topics relevant to investment advisers and companies. These FAQs provide staff interpretations and do not create new legal obligations.
SEC Staff Guidance on Compliance and Disclosure Interpretations
The SEC's Division of Corporation Finance has updated its Compliance and Disclosure Interpretations (CDIs) page. These interpretations reflect staff views on federal securities laws and are intended as general guidance, not binding rules. The division is actively revisiting and refreshing these positions.
SEC Staff Legal Bulletins Summarizing Federal Securities Laws
The SEC has updated its guidance on Staff Legal Bulletins, which summarize the staff's views on federal securities laws and regulations. These bulletins represent the interpretations followed by various SEC divisions but are not legally binding.
SEC Institutes Administrative Proceedings Against Crest Radius, Inc.
The SEC has instituted administrative proceedings against Crest Radius, Inc. for alleged misrepresentations in its registration statement and failure to cooperate with an examination. The company is accused of misrepresenting revenues through roundtrip transactions and failing to provide requested financial documents.
SEC Opinion on Electropremium Stop Order Proceeding
The SEC issued an opinion suspending the effectiveness of Electropremium's registration statement due to material deficiencies. The company failed to include required financial statements and made misleading statements about asset valuation. This action suspends the registration statement's effectiveness.
SEC Institutes Administrative Proceedings Against American CryptoFed DAO LLC
The SEC has instituted administrative proceedings against American CryptoFed DAO LLC for alleged material omissions and misstatements in its registration statement for Ducat and Locke tokens. The proceedings aim to determine if the registration should be denied or its effective date suspended.
SEC Corrected Order for Horizon Thread Administrative Proceeding
The SEC issued a corrected order for an administrative proceeding against Horizon Thread (PTY) Ltd. The proceeding, instituted under Section 8(d) of the Securities Act of 1933, addresses alleged material misstatements and omissions in Horizon's registration statement for 1,000,000 common shares.
SEC Institutes Administrative Proceedings Against Digi Outdoor Media
The SEC has instituted administrative proceedings against Digi Outdoor Media, Inc. concerning its 2015 registration statement. The company has submitted an Offer of Settlement, admitting jurisdiction and consenting to the proceedings, which stem from allegations of misappropriating investor funds and making materially false statements.
SEC Suspends Trading of TechCreate Group Ltd. Securities
The SEC has suspended trading of TechCreate Group Ltd. securities due to potential manipulation through social media recommendations. The suspension is effective for a 24-hour period starting February 2, 2026, to protect investors.
SEC Suspends Trading of Charming Medical Limited Securities
The SEC has suspended trading of Charming Medical Limited (MCTA) securities for two weeks due to concerns of potential manipulation through social media recommendations. The suspension aims to protect investors from artificially inflated prices and trading volumes.
SEC Suspends JM Group Limited Trading Due to Manipulation
The SEC has suspended trading in JM Group Limited securities due to potential market manipulation. The suspension is in effect for two weeks, from January 15 to January 29, 2026, to protect investors.
SEC Suspends Trading of Magnitude International Ltd
The SEC has suspended trading of Magnitude International Ltd (MAGH) securities for a two-week period due to concerns of potential market manipulation via social media recommendations. The suspension is effective December 5, 2025, through December 18, 2025.
SEC Suspends Trading of MaxsMaking Inc. Securities
The SEC has suspended trading of MaxsMaking Inc. (MAMK) securities on the Nasdaq Capital Market. The suspension is due to potential manipulation designed to artificially inflate the stock price and trading volume. Trading is suspended from November 17, 2025, through December 1, 2025.
SEC Order to Show Cause for Huaizhong Health Group
The SEC issued an order to show cause against Huaizhong Health Group, Inc. for failing to respond to an earlier order instituting proceedings. The company must respond by February 25, 2026, or face potential revocation of its securities registration.
SEC Grants Sharing Economy International Inc. Extension of Time
The SEC has granted Sharing Economy International Inc. an extension to respond to a show cause order regarding a motion for summary disposition. The company must now file its response by February 19, 2026, to avoid potential default and revocation of its securities registration.
SEC Issues Order to Show Cause Against The Healing Company Inc.
The SEC issued an order to show cause against The Healing Company Inc. for failing to file an answer to an earlier order instituting proceedings. The company must respond by February 26, 2026, or face potential revocation of its registered securities.
SEC Dismisses Proceeding Against Epic Capital Wealth Advisors
The SEC has dismissed its proceeding against Epic Capital Wealth Advisors, LLC, and granted its application for registration as an investment adviser. The Division of Enforcement had sought to deny the application based on allegations concerning the conduct of its president, David M. Anthony.
SEC v. Horter Investment Management, LLC - Initial Decision
The SEC issued an Initial Decision censuring Horter Investment Management, LLC and imposing a supervisory collateral bar on Drew K. Horter. The decision also orders civil penalties of $250,000 against Horter Investment and $125,000 against Drew K. Horter.
SEC Suspends American CryptoFed DAO LLC Registration Statement
The SEC has suspended the effectiveness of American CryptoFed DAO LLC's registration statement via an Initial Decision. This stop order action stems from the omission of required information, including audited financial statements, and misleading statements within the filing.
SEC Initial Decision on Nano Magic Inc. EAJA Application
The SEC's Chief Administrative Law Judge denied Nano Magic Inc.'s application for attorney fees and costs under the Equal Access to Justice Act. The decision found that a proceeding to terminate a trading suspension is not an adversary adjudication under the Administrative Procedure Act, making the company ineligible for recovery.
SEC Initial Decision on Remand: Epic Capital Wealth Advisors, LLC
The SEC issued an initial decision on remand concerning the registration application of Epic Capital Wealth Advisors, LLC. The decision addresses whether the firm meets the requirements for registration as an investment adviser and is not prohibited from registering under Section 203A of the Investment Advisers Act of 1940.
SEC Postpones Horizon Thread Registration Statement Deadline
The SEC has granted a 60-day postponement of deadlines in the administrative proceeding against Horizon Thread (PTY) Ltd. This allows the company additional time to cure deficiencies in its amended registration statement. The next status update is due April 13, 2026.
SEC Redesignates Judge for Epic Capital Wealth Advisors Proceeding
The SEC has redesignated the presiding judge for the administrative proceeding against Epic Capital Wealth Advisors, LLC. The new judge has ordered parties to file opening briefs by December 15, 2025, addressing specific requirements for investment adviser registration.
SEC Administrative Proceeding Order - Horizon Thread (PTY) Ltd
The SEC issued an administrative order regarding Horizon Thread (PTY) Ltd, setting deadlines for filing an answer and a joint report. The order follows the respondent's stipulation to service and waiver of certain requirements in an ongoing administrative proceeding concerning its registration statement.
SEC Postpones Horizon Thread Hearing to December 15
The SEC has postponed the administrative hearing for Horizon Thread (PTY) Ltd from November 25, 2025, to December 15, 2025. This postponement is due to the Division of Enforcement's inability to serve the order instituting proceedings on the respondent.
SEC Postpones Hearing for Horizon Thread Registration Statement
The SEC has postponed a hearing for Horizon Thread (PTY) Ltd's registration statement by 60 days. This postponement allows the company to amend its statement to cure deficiencies. A joint status update is required by February 9, 2026.
SEC Extends Decision Time for Laurence G. Allen
The Securities and Exchange Commission (SEC) has extended the decision deadline for Laurence G. Allen by 90 days in an administrative proceeding. The new deadline for issuing a decision is June 10, 2026.
SEC Order to Show Cause Against BorrowMoney.com
The SEC has issued an order to show cause against BorrowMoney.com, Inc. for failing to respond to an earlier order instituting proceedings. The company must explain why its securities registration should not be revoked by March 19, 2026.
SEC Reviews FINRA Action - Adam Strege
The SEC reviewed FINRA's action prohibiting Adam Strege from accessing its customer arbitration forum. The Commission partially set aside FINRA's order, dismissing the denial of current access but vacating the prospective ban on future attempts.
SEC Grants FINRA Extension for Kaplan Review
The SEC has granted FINRA an extension to file the certified record in the administrative proceeding concerning Adam Scott Kaplan and Daniel Evan Kaplan. FINRA must now file the record by March 31, 2026. The SEC also requested briefing from FINRA on the applicants' stay request.
SEC Denies Sandeep Aggarwal's Motion to Vacate Bar
The SEC denied Sandeep Aggarwal's motion to vacate or modify bars previously imposed in a 2014 settlement order. Aggarwal sought to remove bars from association with broker-dealers and participation in penny stock offerings, which stemmed from his 2013 injunction and criminal conviction for securities fraud.
Cboe BZX Exchange Rule 14.12 Approval Order
The Securities and Exchange Commission has approved a proposed rule change by Cboe BZX Exchange, Inc. to amend Exchange Rule 14.12. This notice details the approval of the proposed rule change, which affects exchange operations and member conduct.
SEC Sunshine Act Meetings Notice
The Securities and Exchange Commission (SEC) has issued a notice regarding upcoming Sunshine Act meetings. This notice provides details on the date, time, and location of these meetings, as well as the matters to be considered.
Paxos Securities Settlement Company LLC - Clearing Agency Registration Amendment
The Securities and Exchange Commission (SEC) has published a notice regarding an amendment filed by Paxos Securities Settlement Company, LLC to its application for registration as a clearing agency. This filing is made under Section 17A of the Securities Exchange Act of 1934.
SEC Delays Action on Cboe BZX Exchange Rule Change for Opening Auction
The Securities and Exchange Commission (SEC) has extended the period for reviewing a proposed rule change by Cboe BZX Exchange, Inc. This rule change aims to amend the opening auction process to delay execution under certain market conditions. The SEC is delaying its decision to allow for further review.
Nasdaq MRX Proposed Rule Change for Outcome-Related Options
The Securities and Exchange Commission (SEC) has published a notice regarding a proposed rule change by Nasdaq MRX, LLC. This proposal aims to adopt a new options rule, Rule 3B, to allow for the listing and trading of outcome-related options.
SEC Order Directs Fair Fund Disbursement for Valeant
The SEC has issued an order directing the disbursement of $43,333,356.49 from a Fair Fund to harmed investors in the matter of Valeant Pharmaceuticals International, Inc. (n/k/a Bausch Health Companies, Inc.). The order follows the approval of a distribution plan after no comments were received during the public comment period.
SEC Order Directs Disgorgement of Fair Fund for Boeing and Muilenburg
The SEC has ordered the disbursement of a $218,239,227.18 Fair Fund to harmed investors in the Boeing and Muilenburg case. This follows the approval of a distribution plan and the processing of investor claims.
SEC Commissioner Peirce Discusses Disclosure, Proxy Voting, and Tokenization
SEC Commissioner Hester M. Peirce delivered remarks at the Investor Advisory Committee meeting on March 12, 2026. She discussed public company disclosure reform, the challenges funds face in obtaining quorum for proxy votes, and the implications of tokenization.
SEC Commissioner Atkins on SEC-CFTC Regulatory Harmony
SEC Commissioner Paul S. Atkins delivered a speech on March 10, 2026, discussing the importance of regulatory harmony between the SEC and CFTC. The speech highlighted how regulatory friction increases costs and reduces liquidity, advocating for a more coherent approach to benefit American investors and businesses.
SEC Commissioner Uyeda Remarks on Treasury Clearing Rule
SEC Commissioner Mark T. Uyeda discussed the Treasury Clearing Rule and its implementation timeline. The rule, originally mandated in December 2023, has compliance deadlines of December 2025 for cash transactions and June 2026 for repo transactions, with ongoing efforts to provide clarity and guidance to market participants.
SEC Commissioner Uyeda Remarks on Disclosure, Proxy Voting, and Tokenization
SEC Commissioner Mark T. Uyeda delivered remarks on March 12, 2026, discussing ongoing reviews of Regulation S-K disclosure requirements and challenges in fund proxy voting. The speech also touched upon the potential impact of tokenization on equity securities and the need for regulatory evolution.
SEC Chairman Remarks on Disclosure, Tokenization, and Innovation
SEC Chairman Paul Atkins discussed potential regulatory approaches to disclosure burdens, corporate governance, and the tokenization of securities. He indicated the Commission may consider an innovation exemption for trading certain tokenized securities.
SEC v. Elanco Animal Health Inc. - Proposed Plan of Distribution
The SEC has issued a notice regarding a proposed plan of distribution for $15 million in civil penalties collected from Elanco Animal Health Inc. Elanco was fined for misleading revenue statements made between Q1 2019 and Q1 2020. The public has 30 days to comment on the distribution plan.
SEC Approves Amended Distribution Plan for Compass Minerals Disclosure Violations
The SEC has approved an amended distribution plan for Compass Minerals International, Inc. following disclosure violations. The amendment corrects a scrivener's error in the plan of allocation, ensuring fair distribution of the Fair Fund to harmed investors.
SEC v. Vanguard Group - Administrative Proceeding and Settlement
The SEC has issued a second extension order in the administrative proceeding against Vanguard Group, Inc. The Division of Enforcement has requested an extension until July 31, 2026, to submit a Proposed Plan of Distribution for a Fair Fund totaling $146.4 million, stemming from Vanguard's settlement of misleading statements regarding tax consequences to investors.