Regulatory Alerts2024-02-28 | 2024-04062Added · 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, adopted final amendments to its Supplemental Standards of Ethical Conduct to address ethical issues unique to the agency. The rule prohibits employees from owning Financial Industry Sector Funds that concentrate investments in entities directly regulated by the Commission and eliminates pre-clearance and reporting requirements for certain low-risk diversified investment funds. Additionally, the amendments permit automated compliance reporting through financial institutions and clarify that IPO purchase restrictions apply to direct listings of securities.
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