The SEC issued an Investor Bulletin covering the rulemaking and comment submission processes for SEC releases and rule proposals.
The SEC explained that the rulemaking process generally involves (i) a proposing release, in which the SEC discusses and shares the text of a proposed new rule or rule amendment and solicits input from the public, and (ii) an adopting release, which reflects the SEC's consideration of public comments and publicizes the final version of the rule. Additionally, the SEC explained that it sometimes issues a concept release before issuing a proposing release, which identifies an area of concern, potential approaches, and questions for public consideration. Interested parties may respond with comments to a concept release.
The SEC also outlined a series of considerations for individuals who choose to submit comments, and encouraged commenters to (i) understand the particular release, (ii) describe their role and relevant experience, (iii) state and explain their position on the rule, (iv) suggest solutions or alternatives, and (v) provide supporting data.
The SEC informed potential commenters that all comments can be submitted online, and rulemaking releases can be located through the Regulatory Actions page.
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