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New York, October 7, 2010 (FBC) The U.S. Securities and Exchange Commission said it has reopened public comment periods for 11 publications, some of which are considered controversial, after a technical problem led to the disappearance of comment letters.
Most of the comments affected by the technology glitch affected the SEC’s Internet filing form in August, though some may be returned as late as June 2021, the regulator said.
Impacted issuances include climate disclosure, special purpose purchase companies (SPACs), money market funds, and legislation on short positions.
Comments on SEC rulemaking proposals are intended to inform the regulator’s process.
The SEC, under Chairman Gary Gensler, has been criticized for the broad scope and volume of regulatory enforcement, as well as the perception that the rulemaking process is being rushed. Read more Read more
The regulator said it will open comment periods for the affected releases, as well as 14 days for a request for comment, where all interested parties have an opportunity to respond.
Between June 2021 and August 2022, less than 200 of the more than 25,000 specific public comments and 45,000 form letters received by the SEC are believed to have been affected.
The comptroller said about 90% of employees who did not attempt to submit comments using the agency’s Internet feedback form received and filed them.
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Reporting by John McCrank; Editing by Jonathan Otis
Our standards: The Thomson Reuters Trust Principles.
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