Regulatory Alerts2023-01-30
Supplemental Standards of Ethical Conduct for Members and Employees of the Securities and Exchange Commission
The Securities and Exchange Commission, jointly with the Office of Government Ethics, proposes amendments to its Supplemental Standards of Ethical Conduct for members and employees. The rule prohibits employee ownership of Financial Industry Sector Funds, eliminates pre-clearance and reporting requirements for low-risk diversified investment funds, and authorizes automated third-party collection of transaction data. It further extends a seven-day purchase prohibition to direct listings, adjusts reporting deadlines for automated systems, and implements technical corrections to streamline internal ethics compliance.
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