SEC Adopts Say-on-Pay, Golden Parachute Rules; Proposes Amendments To Definition of 'Accredited Investor;' Systemic Reporting By Private Funds

At an open commission meeting earlier today, the U.S. Securities and Exchange Commission:

• adopted final rules on Say-on-Pay and Golden Parchutes,
• proposed amendments to the definition of accredited investor (aka net worth standard) and
• proposed a rule for systemic reporting by private funds, to require advisers to hedge funds and other private funds to report information for use by the Financial Stability Oversight Council (FSOC) in monitoring risk to the U.S. financial system.

Details can be found in the SEC press releases in the press releases linked above.

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