Regulatory Alerts2023-02-07 | 2023-02235Added · Updated
Supplemental Standards of Ethical Conduct for Members and Employees of the Securities and Exchange Commission
The Securities and Exchange Commission, with the concurrence of the Office of Government Ethics, proposes amendments to its Supplemental Standards of Ethical Conduct to address ethical issues unique to the agency. The proposed rule prohibits employee ownership of Financial Industry Sector Funds, eliminates pre-clearance and reporting requirements for low-risk Permissible Diversified Investment Funds, and expands restrictions on purchasing directly listed assets. Additionally, the Commission seeks to authorize the automated collection of securities transaction data from financial institutions to improve compliance accuracy and reduce administrative burdens.
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