The SEC is active today on the regulatory side, although they still have not delivered some key items on their overdo agenda, notably Federal crowd funding.  The States are stealing their thunder on that front, although usually under the intra-state Federal exemption so mostly we are talking small local deals.

New today on executive claw-backs: proposed rules to direct the exchanges to establish a listing standard requiring claw-back of executive incentive pay erroneously granted.  Arises with a financial restatement and applies to current and former executives.  NOT related to any fault on the part of the executives.   Reaches back three years from restatement.  Open for two months comment.  This under Dodd Frank, a statute merely what–  three weeks shy of five years old?

New today on audit committee disclosures: SEC announces it will issue a “concept release” seeking comment on current audit disclosures, particularly oversight of independent auditors.  Would reach criteria used by committee to evaluate, and also to select auditors.  Also two month comment period after publication.  Hard to imagine this will help investors, more likely to result in expanded disclosure requirements eliciting platitudes.