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SEC delays certain assets from enforcement actions under new disclosure rule
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WASHINGTON – The U.S. Securities and Exchange Commission (SEC) said on Friday that it would delay enforcement of certain assets from a new disclosure rule for off-exchange securities until Jan. 3, 2022.
The new compliance date was due to come into effect on Tuesday.
The agency's no action letter, which affects quotes published by broker dealers for buying and selling of government bonds, does not change or amend the compliance date for a new rule aimed at stamping out fraud in U.S. equities markets starting on Sept. 28, 2021, the agency said.
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The position "concerns enforcement action only and does not represent a legal conclusion with respect to the applicability of statutory or regulatory provisions of the securities laws," the agency said.
Next week's new measure aims to boost investor disclosures by requiring off-exchange issuers to make accurate, up-to-date financial information publicly available. These are frequently penny-stock companies that do not meet the main exchanges' listing standards.