All Things FinReg

The House Committee on Financial Services passed the Improving Disclosure for Investors Bill of 2023 on April 26, 2023 with bipartisan support. If passed by Congress and signed into law, the bill could alter the regulatory landscape for electronic delivery (e-delivery) by US Securities and Exchange Commission (SEC) registrants by eliminating the requirement to obtain an investor’s affirmative consent for e-delivery and allowing firms to implement a notice and optout approach to implementing e-delivery.

As many are aware, Congress passed its own version of the US Securities and Exchange Commission (SEC) staff’s mergers and acquisitions (M&A) broker no-action letter in December 2022, creating a new exemption from broker registration in Section 15(b)(13) of the Exchange Act that largely tracks the SEC staff’s no-action letter, with one important tweak.

Kwasi Kwarteng, the Chancellor of the Exchequer of the new UK government led by Prime Minister Liz Truss, presented his “Growth Plan 2022” to Parliament on 23 September 2022. The Growth Plan 2022 outlines the UK government’s plans to tackle inflation, the cost of living, and energy crises and expand the supply side of the economy. In particular, the chancellor announced new measures to unlock investment by UK pensions schemes in private assets.