SFIG Staff Meets with SEC Acting Chairman Piwowar’s Senior Counsel

This morning, February 23rd, SFIG staff met with SEC Acting Chairman Piwowar's senior advisors. The discussion touched on the SEC's approach to prioritizing regulation as well as the possible timeline for future Regulation AB II rulemaking. Until the new SEC Chair is confirmed, it is unlikely any movement will occur on Regulation AB II; i.e., over the next 1-2 months. In addition, the SEC pointed to a general rule of thumb that if five years have elapsed since the release of a proposal, they may seek refreshed comment via a reproposal rather than issuing a final rule. Given that asset level disclosure proposals date back to 2011, it is possible that we might see the issuance of a reproposal rather than a final rule. Until the election of a new Chair and the establishment of that Chair's priorities, no firm guidance can be issued as to whether we will see a final rule or a reproposal.

SFIG will continue to monitor Regulation AB II developments and if you would like to be added to our Regulation AB II Task Force please contact Alyssa.Acevedo@sfindustry.org.

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