TheCorporateCounsel.net

Never mind! Yesterday, the SEC announced that it had cancelled the open meeting that had been scheduled for today and was just announced on Monday evening (a departure from the typical 7-day notice). I will survive, but I’ve gotta say I had been kinda excited about the open meeting since there haven’t been very many with Chair Atkins!

As I shared earlier this week, the purpose of the meeting was to consider whether to issue a release proposing new rules to create a tailored offering regime for certain investment contracts involving crypto assets. An open meeting isn’t required to issue a proposal since the Commissioners can also vote by seriatim (see this 2015 statement from former Commissioner Commissioner Luis A. Aguilar for how that works). The SEC’s “crypto assets” proposal was still listed as pending review on the OIRA dashboard as of yesterday afternoon.

(At the Congressional level, the CLARITY Act vote has also been bumped to (at least) September and the WSJ editorial board published a piece that pointed out problems with it, which in turn has generated more commentary from those in favor of it, etc.)

A proposal from the SEC on Pay-to-Play Reform under the Investment Advisers Act is also on the dashboard now…

– Liz Dunshee