SEC Seeks Comment on Its Plan to Review Existing Regulations

The Securities and Exchange Commission has announced that it will seek public comment by October 6, 2011, on a plan to conduct retrospective reviews of existing regulations. The SEC is seeking public comment on the process it should use to conduct retrospective reviews, such as how often rules should be reviewed, the factors that should be considered, and ways to improve public participation in the rulemaking process. Among the SEC's rulemakings is a June final rule creating a whistleblower incentives and protection program took effect in August 2011. Among other things, the SEC also enforces the accounting provisions of the Foreign Corrupt Practices Act.