FASB’s Invitation to Comment – Agenda Consultation
SIFMA provided comments to the Financial Accounting Standards Board (FASB) on its Invitation to Comment - Agenda Consultation (the “ITC”).
SIFMA and the Association for Financial Markets in Europe (AFME) provide comments to the Securities and Exchange Commission (SEC) on the SEC’s study regarding extraterritorial private rights of action under the antifraud provisions of the Securities Exchange Act of 1934 (Exchange Act), File No. 4-617. A significant volume of securities transactions are conducted across borders. The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) granted the SEC and the U.S. authority to take legal action under Section 10(b) of the Exchange Act in cases involving transnational securities fraud. The SEC is now conducting a study to determine if this right should be extended to private plaintiffs and has asked for comments. The groups strongly favor maintaining the current standard set forth in the U.S. Supreme Court’s 2010 decision in the Morrison v. National Australia Bank case, because it provides the necessary clarity regarding the reach of U.S. law that will encourage foreign investment in the U.S., and help preserve the preeminence of our capital markets.
SIFMA provided comments to the Financial Accounting Standards Board (FASB) on its Invitation to Comment - Agenda Consultation (the “ITC”).
SIFMA provided comments to the U.S. Securities and Exchange Commission (SEC) on why the SEC should reject requests to make…
SIFMA and the International Swaps and Derivatives Association, Inc. (ISDA) provided comments to the Federal Reserve Board of Governors on…