In June, The SEC updated its regulatory agenda to say that it intends to issue a new Notice of Proposed Rulemaking (NPRM) in October 2022 regarding potential amendments to Rule 144. There is no indication how the SEC intends to propose to amend Rule 144. The SEC would therefore not be in a position to adopt a final rule until sometime in 2023.
Commissioner Hester Peirce issued a statement a few weeks ago, criticizing Chairman Gary Gensler’s regulatory agenda, both as to substance and process. Among many other complaints, Pierce argued that “[t]hese rules contemplate far-reaching changes to our regulatory regime, the breadth of which is hard to glean from merely reading their titles,” citing the new proposed dealer rule as an example. She also noted that “[t]he Commission plans to propose many new rules, contemplating further extensive changes within the next five months,” citing as one example among many that the Commission intends to propose new rules relating to “the Rule 144 safe-harbor.”
Contact:
info@thespcc.com