SEC Adopts Revisions To The Privacy Act
On September 20, 2023, the SEC approved final revisions to the Privacy Act, governing the handling of personal information in the federal government (See HERE for a review of the proposed rules). The revisions codify current practices for processing requests for information made by the public under the Privacy Act and result in an entire re-write of the current rules. The SEC last updated the Privacy Act in 2011.
Background
The Privacy Act is the principal law governing the handling of personal information in the federal government, regulating the collection, maintenance, use, and dissemination of information about individuals that is maintained in systems of records by federal agencies. The Privacy Act also allows individuals to access information about them and provides a method to correct inaccurate records.
Final New Rules
The amended rules result in a complete rewrite of the Privacy Act to: (i) add a provision setting forth the process by which individuals may be provided with
NASDAQ Issues Report Advocating for The U.S. Public Markets
Before SEC Commissioner Michael Piwowar’s May 16, 2017, speech at the SEC-NYU Dialogue on Securities Market Regulation regarding the U.S. IPO Market (see summary HERE), and SEC Chair Jay Clayton’s July 12, 2017, speech to the Economic Club of New York (see summary HERE), the topic of the U.S. IPO market had already gained significant market attention. Earlier this year, NASDAQ issued a paper titled “The Promise of Market Reform: Reigniting American’s Economic Engine” with its views and position on how to revitalize the U.S. equities and IPO market (the “NASDAQ Paper”). This blog summarizes the NASDAQ Paper.
The NASDAQ Paper begins with a statement by Adena Friedman, President and CEO of NASDAQ. The statement begins with a decidedly positive outlook, noting that “The U.S. equities markets exist to facilitate job creation and wealth creation for millions of people, ultimately driving economic growth for our country.” Ms. Friedman adds that “[E]xceptional market returns in recent years
