Data / Federal rules / 2024-04062
Supplemental Standards of Ethical Conduct for Members and Employees of the Securities and Exchange Commission
The Securities and Exchange Commission published this final rule in the Federal Register on February 28, 2024. It took effect on March 29, 2024.
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What the agency says
The Securities and Exchange Commission ("SEC" or "Commission" or "we"), with the concurrence of the Office of Government Ethics ("OGE"), is adopting jointly issued amendments to the Commission's existing Supplemental Standards of Ethical Conduct for Members and Employees of the Securities and Exchange Commission ("Supplemental Standards"). This rule amends the existing Supplemental Standards jointly issued by SEC and OGE, supplements the Standards of Ethical Conduct for Employees of the Executive Branch ("OGE Standards") issued by OGE, and is necessary and appropriate to address ethical issues unique to the SEC. Specifically, the Commission is prohibiting employee ownership of sector funds that have a stated policy of concentrating their investments in entities directly regulated by the Commission; revising transaction and reporting requirements for certain assets that pose a low risk of conflicts of interest or appearance concerns; permitting employees to comply with reporting obligations by authorizing their financial institutions to transmit information on behalf of employees about their covered securities transactions and holdings data through an approved automated compliance system; clarifying that the limitation on purchasing securities that are part of an initial public offering (IPO) until seven days after the IPO also applies to direct listings of securities; correcting certain technical matters; and adjusting its transaction and reporting requirements to provide the flexibility necessary to implement an automated compliance system.
Key facts
- Document number
- 2024-04062
- Type
- Final rule
- Action
- Final rule
- Agency
- Securities and Exchange Commission
- Published
- February 28, 2024
- Takes effect
- March 29, 2024
- Dates
- This final rule is effective March 29, 2024.
- Docket
- Release No. 34-99582; File No. S7-02-23
- Regulation ID (RIN)
- 3209-AA15
- Code of Federal Regulations
- 5 CFR 4401
- Topics
- Administrative practice and procedure; Government employees; Securities
- Pages
- 14
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|---|---|---|
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| Interval Fund Modernization; Expansion of Multiple Share Class to Registered Closed-End Management Investment Companies and Business Development Companies 2026-20360 | Proposed rule | Oct 5 |
| Commission Quorum Requirement 2026-20262 | Final rule | Oct 2 |
Everything from the Securities and Exchange Commission · Rules on administrative practice and procedure · Rules on government employees · Rules on securities · Published in February 2024
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