by Ed Blount, Founder and Director Emeritus, David Schwartz J.D. CPA, Executive Director | Oct 5, 2026 | Commentary
On December 3, 2025, the Securities and Exchange Commission granted a further temporary exemption from compliance with Rule 10c-1a. Covered persons need not report securities-loan information to a registered national securities association (RNSA) until September 28,...
by David Schwartz J.D. CPA, Executive Director | Sep 20, 2026 | All, Change Overview and Rationale
While the financial sector races toward fully autonomous workflows, every practical description of a governed AI system eventually points to a box labeled “human in the loop.” In practice, this box sits between the machine and the customer, and critics...
by Ed Blount, Founder and Director Emeritus, David Schwartz J.D. CPA, Executive Director | Aug 8, 2026 | All, Commentary
Center for the Study of Financial Market Evolution (CSFME) 1. The Evolution of the Lockup Expiration The mechanics of the initial public offering are evolving. The traditional 180-day lockup period, which historically resulted in a single, predictable flood of...
by David Schwartz J.D. CPA, Executive Director | Sep 10, 2025 | All
SEC Chairman Paul S. Atkins announced on September 5, 2025, that he has tasked agency staff with reviewing the SEC’s landmark transparency rules following a recent decision by the U.S. Court of Appeals for the Fifth Circuit. While the Court upheld the substance...
by David Schwartz J.D. CPA, Executive Director | Aug 26, 2025 | All
In a significant ruling, the U.S. Court of Appeals for the Fifth Circuit has sent the Securities and Exchange Commission’s (SEC) landmark Securities Lending Rule (Rule 10c-1a) and Short Sale Rule (Rule 13f-2) back to the agency, finding a critical flaw in the...
