SEC withdraws proposed rules
The United States Securities and Exchange Commission (SEC) has formally withdrawn 14 proposed rules that had remained in the consultation stage. Among them are three proposals with structured data elements, each of which included XBRL tagging in their original drafts.
These include proposals on cybersecurity risk management for investment advisers and registered funds, enhanced ESG disclosures for certain investment advisers and investment companies, and a rule addressing volume-based exchange transaction pricing for NMS stocks. The SEC stated that it does not intend to move forward with final rules in these areas, and that any future regulatory action would need to begin with a new proposal.
For those tracking the details, you can read the full text of the cybersecurity proposal here, the ESG disclosure proposal here, and the volume-based pricing proposal here.
