SEC schedules vote on transparency rules
Tue, 2012-07-03 14:47
After more than a year
of delays, the Securities and Exchange Commission (SEC) announced this Monday
that a vote will be held on August 22
to adopt final rules for Section 1504 of the Dodd-Frank Act.
When the Dodd-Frank
Act was enacted in July, 2010, Congress gave the SEC 270 days to issue rules
for Section 1504. Those rules are now more than one year overdue; in May,
ERI filed a lawsuit on behalf of Oxfam America -- a key backer of Section 1504
-- to compel the SEC to promptly finalize the rules.
While this is the
first time the SEC has actually scheduled a date for a vote, it has repeatedly
published -- and missed -- self-imposed deadlines to finalize the rules. While
we hope the vote will proceed as scheduled next month, our lawsuit on behalf of
Oxfam will continue until a rule is actually adopted.
.
https://docs.google.com/document/d/1Z2QD2UVcek0c_QWwHSQxjSZ50nUg-zSb0ZaJvs9SVcw/edit
.
The Contentious Issues in Section 1504
.
