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SEC reopens public comment period on proposals due to technical error

On Behalf of | Oct 19, 2022 | Regulatory Investigations

The Securities and Exchange Commission announced that it is reopening the public comment periods for 11 of its rulemaking releases and one request for comment due to a technological error, ThinkAdvisor reports.­

Because of the error, a number of comments that were submitted through the SEC’s internet comment form were not received by the commission. The SEC said the majority of these comments were submitted in August 2022, but the technical glitch occurred as early as June 2021.

To make sure that interested parties have their chance to comment, the SEC said it will reopen the comment period for the releases until 14 days after publication of the reopening announcement in the Federal Register. Anyone who submitted a public comment through the internet form between June 2021 and August 2022 was advised to check the relevant file on to find out whether their comment was received and posted. If it was not posted the comment should be resubmitted, the SEC said.

The commission provided the list of affected releases as follows:

Reporting of Securities Loans, Release No. 34-93613 (Dec. 8, 2021)

Prohibition Against Fraud, Manipulation, or Deception in Connection with Security-Based Swaps; Prohibition against Undue Influence over Chief Compliance Officers; Position Reporting of Large Security-Based Swap Positions, Release No. 34-93784 (Feb. 4, 2022)

Money Market Fund Reforms, Release No. IC-34441 (Feb. 8, 2022)

Share Repurchase Disclosure Modernization, Release Nos. 34-93783, IC-34440 (Feb. 15, 2022)

Short Position and Short Activity Reporting by Institutional Investment Managers, Release No. 34-94313 (Mar. 16, 2022); see also Notice of the Text of the Proposed Amendments to the National Market System Plan Governing the Consolidated Audit Trail for Purposes of Short Sale-Related Data Collection, Release No. 34-94314 (Mar. 16, 2022)

Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure, Release Nos. 33-11038, 34-94382, IC-34529 (Mar. 23, 2022)

Private Fund Advisers; Documentation of Registered Investment Adviser Compliance Reviews, Release No. IA-5955 (Mar. 24, 2022)

The Enhancement and Standardization of Climate-Related Disclosures for Investors Release Nos. 33-11042, 34-94478 (Apr. 11, 2022)

Special Purpose Acquisition Companies, Shell Companies, and Projections, Release Nos. 33-11048, 34-94546, IC-34549 (May 13, 2022)

Investment Company Names, Release Nos. 33-11067, 34-94981, IC-34593 (June 17, 2022)

Enhanced Disclosures by Certain Investment Advisers and Investment Companies About Environmental, Social, and Governance Investment Practices, Release Nos. 33-11068, 34-94985, IA-6034, IC-34594 (June 17, 2022)

Request for Comment on Certain Information Providers Acting as Investment Advisers, Release Nos. IA-6050, IC-34618 (June 22, 2022)

The attorneys at Lewitas Hyman regularly monitor SEC, FINRA and other SRO rule-making activities to help ensure that our clients are aware of any new policies, while assisting them in implementing any recommended changes. Our clients include broker-dealers, RIAs, banks, investment companies and hedge funds, along with registered representatives and other individuals participating in the securities industry. If your firm is facing an investigation from a regulatory agency, please contact Lewitas Hyman at (888) 655-6002 or through our online contact form.