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SEC Creates New Office for Division of Economic and Risk Analysis

To support the agency with data-driven risk assessment tools for various activities, the Securities and Exchange Commission (“SEC”) has created a new office within its agency’s Division of Economic and Risk Analysis (“DERA”). Announced last week , the Office of Risk Assessment will continue the DERA’s existing efforts of creating effective risk evaluation tools and models, as well as work in collaboration with SEC market experts. Since being established five years ago, the DERA has led the SEC charge to develop risk assessment tools. For instance, the DERA created a broker-dealer risk assessment tool for SEC examiners to allot resources by evaluating a. Read More.

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SEC’s Municipalities Disclosure Initiative Updated

Benefiting smaller municipal securities underwriter firms and municipal issuers, the U.S. Securities and Exchange Commission (“SEC”) has announced modifications to its Enforcement Division’s Municipalities Continuing Disclosure Cooperation Initiative. The changes, which include a deadline extension to self-report possible violations from September 10, 2014, to December 1, 2014, will give issuers and obligors extra time to finish their reporting requirements. Announced in March, the MCDC Initiative allows the Enforcement Division to recommend settlement terms for municipal issuers and underwriters who self-report any inaccurate statements in bond offerings concerning their previous compliance with ongoing disclosure obligations related to the Securities Exchange Act of 1934.. Read More.

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