The Advisors' Blog

– Broc Romanek

Yesterday, the SEC adopted the hedging rules required under Section 955 of Dodd-Frank. The SEC adopted these rules a day before its open Commission meeting that included it on the agenda. Today’s meeting agenda is a full one, so the SEC adopted these rules – and requested comments on quarterly reporting & earnings releases – ahead of schedule to provide more time for the other rulemakings still on the agenda.

Here’s the SEC’s press release (the adopting release isn’t available yet) – and we’ll be posting memos in our “Hedging” Practice Area. Except for “smaller reporting companies” and “EGCs” – which get a one-year pass to mid-2020 – the new hedging rules apply to proxies filed during fiscal years beginning after July 1, 2019.