Draft SOW - News Monitoring Services (30 JUN).pdf

Draft Statement of Work - News Monitoring Services - Page 1 of 14

Draft Statement of Work - News Monitoring Services

1. Background

The United States Securities and Exchange Commission (SEC) is a federal agency responsible for protecting investors, maintaining fair and efficient markets, and facilitating capital formation. The SEC oversees the securities industry, including stock exchanges, broker-dealers, investment advisers, and other market participants. The agency's work is critical to maintaining the integrity of the US financial markets and promoting investor confidence.

The SEC’s Office of Public Affairs (OPA) communicates the agency’s work and delivers the agency’s data and other information to the public, market participants, and other stakeholders. The office manages external communications, media relations, internal communications, public engagement, digital engagement, speechwriting, and SEC.gov —which received more than 1.1 billion page views in FY 2023. OPA staff leverage technology and multimedia to deliver news, data, and other information to inform investors and facilitate internal and external audiences’ interactions with the SEC.

To effectively carry out its mission, OPA requires timely and accurate information about news and developments relevant to the SEC's work, making news monitoring services a critical component of its operations.

2. Purpose and Objectives

The purpose of this contract is to acquire news monitoring services that meet the SEC's needs for timely and accurate information. The objectives of this contract are to:

• Provide comprehensive news monitoring that cover a wide range of topics relevant to the SEC's work.

• Deliver high-quality, accurate, and timely news clips and summaries to SEC staff and leadership.

• Support OPA's efforts to stay informed about news and developments that may affect the SEC's work, and to provide timely and accurate information to stakeholders.

3. Scope

OPA requires a qualified contractor to provide daily news monitoring services. The contractor shall deliver a custom-curated news briefing document via email on each business day, ensuring timely delivery of relevant news and information to SEC staff and leadership.

The expected outcome of the contractor's news monitoring services is to provide OPA with comprehensive and timely coverage of news and developments relevant to the SEC's work, enabling informed decision-making and effective communication with stakeholders. Key performance indicators (KPIs) for the contractor's services will include the accuracy and relevance of the news coverage, the delivery timeliness, and the overall quality of the news briefing document.

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4. Contractor Requirements

The contractor shall perform the following tasks to meet the requirements of this contract:

4.1 News Monitoring and Capture

• Continuously monitor print, online, and broadcast sources for relevant news.

• Identify and capture articles, transcripts, and summaries that meet the pre-determined criteria outlined in this SOW.

4.2 Reporting and Deliverables

• Provide daily, weekly, and ad-hoc reports as specified in Section 9

• Deliver a daily news briefing document via email by 5:00 a.m. (ET) each business day.

• Provide a weekly summary report via email by 8:00 a.m. (ET) each Friday.

• Provide ad-hoc alerts and reports as requested by the Contracting Officer's Representative

(COR).

4.3 Archiving and Data Management

• Archive all collected materials in a searchable format, ensuring that the information is easily accessible and retrievable.

• Ensure compliance with all applicable copyright and licensing requirements when collecting, storing, and disseminating news and information.

4.4 Customer Support

• Respond to requests for missed or requested clips within 1 hour of receipt.

• Respond to general inquiries within 2 hours of receipt.

The contractor shall ensure that all tasks are performed in accordance with the requirements and standards outlined in this contract.

5. Pre-determined Criteria

The pre-determined criteria outlined in this section shall be reviewed and updated periodically, but at least quarterly, to ensure they remain relevant and effective in capturing news and information relevant to the SEC's work. The contractor shall work with the COR to review and update the criteria as necessary. Any changes to the pre-determined criteria shall be documented and approved by the COR before implementation.

The contractor shall use the following pre-determined criteria to identify and capture relevant news and information:

5.1. Language

Primary: English

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5.2. Geography

• Primary: United States

• Secondary: Global (EU, UK, Asia-Pacific for multinational firms, crypto, and markets).

5.3. Time Range Specifications

Default lookback: Last 24 hours for daily clips

5.4. Source Types (INCLUDE)

• Mainstream business and financial press

• Blogs (institutional only)

• Legal / Regulatory Publications

• Newsletters (Bloomberg Law, WSJ Pro, FT, Capitol Account)

• Online News

• Trade Press

5.5. Source Types (EXCLUDE)

• Duplicate syndication

• Forums

• Personal blogs

• Press release wires (unless SEC-issued)

• Social media

• Sponsored content / vendor marketing blogs

5.6. Source Deduplication Logic

• SEC.gov (always primary)

• Bloomberg Law / Reuters / WSJ (original reporting)

• Other Tier 1 sources

• Tier 2 only if unique angle

5.7. Add Negative Keywords Globally

NOT ("job posting" OR "career opportunity" OR "we are hiring" OR "SEC football" OR "SEC conference" OR "Southeastern Conference")

5.8. Add Proximity Operators

Use NEAR/n or W/n (within n words) to reduce false positives

6. Priority Source List

The contractor shall prioritize news sources according to the following tiered system:

6.1. Tier 1 – Always INCLUDE (Authoritative Sources) (Alphabetized)

• Accounting Today

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• American Banker

• Associated Press

• Axios

• Barron’s

• Bloomberg Government

• Bloomberg Law

• Bloomberg News

• Bloomberg Tax

• Blockworks

• CoinDesk

• Compliance Week

• CQ Roll Call

• Decrypt

• Dow Jones

• Federal Register

• Financial Times

• Fortune

• FundFire

• Harvard Law Forum on Corporate Governance

• Ignites

• InvestmentNews

• JD Supra

• Law360

• MarketWatch

• Pensions & Investments

• Politico

• Politico Pro

• Punchbowl News

• Reuters

• S&P Global Market Intelligence

• SEC.gov

• The American Lawyer

• The Bond Buyer

• The Hill

• The New York Times

• The Wall Street Journal

• The Washington Post

• ThinkAdvisor

• Unchained

• Whitehouse.gov

6.1.1. Tier 1 Handling Rules

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The contractor shall apply the following rules when handling Tier 1 sources:

• Max 10 articles per topic

• Prefer Bloomberg, Reuters, Bloomberg Law, WSJ, FT

• Crypto Tier 1 outlets only when SEC enforcement, custody, or tokenization is involved

• Avoid duplicate coverage across Tier 1 sources

• Prioritize original reporting over opinion pieces

6.2. Tier 2 – Include When Relevant

The contractor shall include news and information from the following Tier 2 sources when relevant:

• ESPN (prediction markets / sports betting only)

• Institutional Investor

• Insurance Journal

• Responsible Investor

• Yahoo Finance (Reuters-syndicated only)

7. Topic-Based Search Queries:

The search queries outlined in this section shall be reviewed and updated periodically, but at least quarterly, to ensure they remain relevant and effective in capturing news and information relevant to the SEC's work. The contractor shall work with the COR to review and update the search queries as necessary. Any changes to the search queries shall be documented and approved by the COR before implementation. The contractor shall also notify the COR of any changes to the search queries and provide an updated list of search queries.

The contractor shall use the following topic-based search queries to identify relevant news and information:

Each section includes:

• Priority level

• Purpose

• Boolean Possible Search String (below)

• Suggested tags

7.1. SEC Leadership, Policy, and Rulemaking

Priority: HIGH Purpose: Monitor direction-setting statements, leadership changes, and rulemaking agenda.

Possible Search String:

"Paul S. Atkins" OR "Paul Atkins" OR "Chairman Paul Atkins" OR "Commissioner Paul Atkins" OR "Chairman Atkins" OR "Commissioner Atkins"

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OR "Hester M. Peirce" OR "Hester Peirce" OR "Commissioner Hester Peirce" OR "Commissioner Peirce" OR "Hester Pierce" OR "Mark T. Uyeda" OR "Mark Uyeda" OR "Commissioner Mark Uyeda" OR "Commissioner Uyeda" OR "James Moloney" OR "Jim Moloney" OR "Joshua T. White" OR "Joshua White" OR "Josh White" OR "Margaret Ryan" OR "Meg Ryan" NOT actress NOT movie OR "Keith Cassidy" OR "Samuel Waldon" OR "Sam Waldon" OR "Brian Daly" OR "Bryan Daly" OR "Jamie Selway" OR "James Selway" OR "J. Russell McGranahan" OR "J.R. McGranahan" OR "JR McGranahan" OR "Russell McGranahan" OR "Division Director" AND ("Securities and Exchange Commission" OR SEC) AND (Chairman OR Commissioner OR "General Counsel" OR rulemaking OR "policy agenda" OR "rule proposal" OR "policy statement" OR speech OR statement OR "speech transcript") Tags:

• SEC Leadership

• Rulemaking

• Policy Direction

7.2. Corporation Finance

Priority: High Purpose: Track disclosure reforms, shareholder proposals, and proxy rules.

Possible Search String:

SEC OR "Division of Corporation Finance" OR "Corp Fin"

AND (

"Regulation S-K" OR "Reg S-K" OR disclosure OR "disclosure requirements" OR "disclosure rules" OR "financial reporting" OR "periodic reporting" OR “shareholder litigation” OR "shareholder proposal" OR "shareholder rights" OR "shareholder activism" OR proxy OR "proxy statement" OR "proxy rules" OR "executive compensation" OR "compensation disclosure" OR "pay versus performance" OR "climate disclosure" OR "sustainability reporting" OR materiality OR MD&A OR "no-action letter" OR "cybersecurity disclosure" OR "cyber incident disclosure" OR "human capital disclosure" OR "human capital management" OR "diversity disclosure" OR "board diversity" OR "ESG disclosure" OR "environmental disclosure" OR "registration statement" OR "prospectus" OR "SPAC" OR "special purpose acquisition" OR "de-SPAC" OR "blank check company" OR "going private" OR "going dark" OR "deregistration" OR "smaller reporting company" OR "emerging growth company" OR "EGC"

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Tags:

• Corp Fin

• Disclosure Reform

• Shareholder Rights

• Executive Pay

• Proxy Rules

• Reg S-K Updates

7.3. Enforcement

Purpose: Monitor SEC enforcement trends, litigation, and penalties.

Possible Search String:

SEC OR "Securities and Exchange Commission"

AND (

enforcement OR lawsuit OR litigation OR investigation OR indictment OR "insider trading" OR fraud OR "securities fraud" OR "accounting fraud" OR "market manipulation" OR "Ponzi scheme" OR misrepresentation OR "administrative proceeding" OR "civil action" OR settlement OR "consent order" OR complaint OR "order instituting proceedings" OR "charging document" OR "whistleblower award" OR "cooperation agreement" OR "criminal charges" OR "civil penalty" OR injunction OR "settlement agreement" OR "recidivist" OR "repeat offender" OR "follow-on proceeding" OR "cooperation credit" OR "self-reporting" OR "remediation" OR "gatekeeper" OR "gatekeeper liability" (auditors, lawyers) Tags:

• Enforcement

• Litigation

• Investor Protection

7.4. Crypto

Purpose: Capture SEC actions and policy on crypto, tokenization, and custody.

Possible Search String:

SEC OR "Securities and Exchange Commission"

AND (

Draft Statement of Work - News Monitoring Services - Page 8 of 14 crypto OR cryptocurrency OR "crypto asset" OR "digital asset" OR "digital currency" OR "virtual currency" OR blockchain OR tokenized OR tokenization OR "digital token" OR stablecoin OR DeFi OR NFT OR "custody rule" OR registration OR custody OR "broker-dealer" OR exchange OR "investment adviser" OR rulemaking OR "policy statement" OR "enforcement action" OR settlement OR complaint OR "order instituting proceedings" OR "charging document" OR "unregistered securities" AND (crypto OR digital) [5] "initial coin offering" OR "ICO" OR "token sale" OR "decentralized exchange" OR "DEX" OR "yield farming" OR "liquidity mining" OR "staking" OR "DAO" OR "decentralized autonomous organization" NOT ("crypto mining stocks" OR "blockchain ETF" OR "crypto-related stocks") Tags:

• Crypto

• Digital Assets

• Tokenization

7.5. Investment Management

Priority: MEDIUM Purpose: Monitor SEC guidance on advisers, private funds, and conflicts.

Possible Search String:

SEC OR "Securities and Exchange Commission" OR "Division of Investment Management" OR "Division of IM" OR "Investment Management Division"

AND (

"investment adviser" OR "registered investment adviser" OR RIA OR "investment advisory" OR "advisory services" “private markets” OR “exchange traded funds” OR “mutual funds” OR “money market funds” OR “Brian Daly” OR hedge fund OR "hedge funds" OR "private equity" OR "private equity fund" OR "private fund" OR conflicts OR "conflicts of interest" OR "fee arrangements" OR "side letters" OR "preferential treatment" OR "Form ADV" OR "Form PF" OR "custody rule" OR "marketing rule" OR "compliance program" OR "fiduciary duty" OR "liquidity risk management" OR "valuation practices" OR "fund of funds" OR "master-feeder" OR "side pocket" OR "gating" OR "redemption suspension" OR "performance fees" OR "carried interest" OR "incentive fees" OR "wrap fee" OR "wrap program"

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Tags:

• Investment Management

• Private Funds

• Conflicts

7.6. Accounting, Auditing and PCAOB

Purpose: Track PCAOB inspections, audit quality, and SEC accounting oversight.

Possible Search String:

PCAOB OR "Public Company Accounting Oversight Board" OR SEC

AND (

audit OR auditor OR "audit firm" OR "audit committee" OR "audit standards" OR inspection OR "inspection report" OR accounting OR "financial reporting" OR "internal controls" OR "SOX compliance" OR restatement OR "audit quality" OR "audit deficiencies" OR "disciplinary proceeding" OR "Big Four" OR "Big 4" OR ("Deloitte" OR "EY" OR "KPMG" OR "PwC") AND (audit OR SEC) OR "audit partner rotation" OR "mandatory audit firm rotation" OR "China-based auditors" OR "HFCAA" OR "Holding Foreign Companies Accountable Act" Tags:

• Accounting

• PCAOB

• Audit Oversight

7.7. Trading and Markets

Purpose: Monitor SEC actions on trading practices, liquidity, and buybacks.

Possible Search String:

SEC OR "Securities and Exchange Commission" OR "securities markets"

AND (

"stock buyback" OR "share repurchase" OR "buyback program" OR "market structure" OR "market structure reform" OR "market microstructure" OR trading OR "high-frequency trading" OR "algorithmic trading" OR "dark pools" OR ATS OR "order routing" OR "best execution" OR liquidity OR clearing OR settlement OR "clearing agency" OR DTCC OR "margin requirements"

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OR "market data fees" OR "tick size" OR “treasury clearing” “tokenized securities” OR “NASDAQ” OR “NYSE” OR “broker dealers” OR “FINRA” OR "market volatility" OR "circuit breaker" OR "trading halt" OR "GameStop" OR "AMC" OR "short squeeze" (if still relevant) OR "T+1" OR "settlement cycle" OR "same-day settlement" OR "securities lending" OR "stock loan" OR "CAT" OR "Consolidated Audit Trail" Tags:

• Market Structure

• Trading

• Capital Markets

7.8. Prediction Markets and SEC–CFTC Overlap

Purpose: Capture regulatory overlap on event contracts and derivatives.

Possible Search String:

SEC OR "Securities and Exchange Commission" OR CFTC OR "Commodity Futures Trading Commission"

AND (

"prediction market" OR "prediction markets" OR "event contracts" OR "event-based contracts" OR derivatives OR swaps OR futures OR options OR CFDs OR "digital asset derivatives" OR "sports betting" OR "sports wagering" OR "gambling contracts" OR jurisdiction OR "regulatory authority" OR rulemaking OR "enforcement action" OR "binary options" OR "political event contracts" OR "binary options" OR "all-or-nothing options"

OR

"gaming" OR "gambling" AND (securities OR CFTC) OR "Dodd-Frank" AND (swaps OR derivatives) NOT sports scores NOT entertainment Tags:

• Prediction Markets

• Inter-Agency Issues

• Derivatives

7.9. Retirement, ERISA, and Investor Fees

Priority: LOW Purpose: Monitor SEC and ERISA developments on retirement plans and fees.

Possible Search String:

SEC OR ERISA OR "Employee Retirement Income Security Act"

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AND (

401k OR "retirement plan" OR "retirement savings" OR "pension plan" OR "defined contribution plan" OR "defined benefit plan" OR IRA OR rollover OR fees OR "plan fees" OR "administrative fees" OR "investment fees" OR "expense ratio" OR benchmarking OR "benchmarking analysis" OR "fiduciary duty" OR "best interest" OR "disclosure requirements" OR "retirement security" OR "retirement readiness" OR "automatic enrollment" OR "auto-enrollment" OR "auto-escalation" OR "lifetime income" OR "annuity" AND retirement OR "SECURE Act" OR "SECURE 2.0" Tags:

• Retirement

• ERISA

• Fees

7.10. White House, Treasury and Macro Actions Affecting SEC

Priority: LOW Purpose: Track macro policy and inter-agency actions impacting SEC.

Possible Search String:

"White House" OR administration OR "Biden administration" OR "Executive Order" OR "Presidential directive" OR Treasury OR "Department of the Treasury" OR "Treasury Department"

AND (

SEC OR "Securities and Exchange Commission" OR markets OR "capital markets" OR regulation OR deregulation OR "financial regulation" OR "regulatory agenda" OR rulemaking OR "policy statement" OR "economic policy" OR "fiscal policy" OR "monetary policy" OR "interest rates" OR "capital formation" OR "financial stability" OR "regulatory reform" OR "regulatory rollback" OR "executive order" AND (securities OR markets OR SEC) OR "Congressional testimony" OR "Senate Banking Committee" OR "House Financial Services" OR "appropriations" OR "SEC budget" OR "SEC funding" Tags:

• Macro Policy

• Inter-Agency

• Political Context

7.11. ALERTING and DELIVERY RULES

• Daily Clip Email: Topics 1–8 (before 5 a.m.)

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7.12. QUALITY and FILTERING RULES

• Deduplicate syndicated content

• Suppress pure opinion unless policy-relevant

• Automatically flag SEC.gov items

• Prioritize enforcement, rulemaking, and leadership over commentary

8. Measurable Performance Standards

The contractor's performance will be evaluated based on the following measurable standards:

8.1 Accuracy and Relevance

• Maintain an accuracy rate of at least 98% in identifying relevant coverage as defined by the pre-determined criteria and topic-based search queries outlined in this Statement of Work.

• Ensure that at least 95% of the news articles and summaries included in the daily news briefing document are relevant to the SEC's work.

8.2 Timeliness and Delivery

• Deliver the daily news briefing document via email by 5:00 a.m. (ET) each business day, with a delivery success rate of at least 99%.

• Provide ad-hoc alerts and reports within 30 minutes of receipt of a request from the COR.

8.3 Quality and Content

• Ensure that the daily news briefing document is well-organized, easy to read, and includes a clear summary of the key news and developments.

• Provide a weekly summary report that includes analysis and insights on the key trends and developments in the news coverage

8.4 Customer Support

• Respond to requests for missed or requested clips within 1 hour of receipt.

• Respond to general inquiries within 2 hours of receipt.

8.5 Data Management and Archiving

• Ensure that all collected materials are archived in a searchable format, with a data retention rate of at least 99%.

• Provide access to archived materials within 2 hours of receipt of a request from the COR.

The contractor's performance will be monitored and measured against these standards on a regular basis. The COR will track and document the contractor's performance, and any failure to meet these standards may result in corrective action, as outlined in the contract.

9. Deliverables

The contractor shall provide the following deliverables as specified below:

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9.1 Daily News Digest

• Frequency: Daily delivery required by 5:00 a.m. (ET) Monday through Friday, excluding federal holidays.

• Format: Via email in a PDF or HTML format.

• Content: The daily news digest shall include a summary of the key news and developments relevant to the SEC's work, including a clear and concise summary of the main points and any relevant analysis or insights.

9.2 Weekly Summary Report

• Frequency: 8:00 a.m. (ET) every Friday.

• Format: Via email in a PDF or HTML format.

• Content: The weekly summary report shall provide an analysis of the key trends and developments in the news coverage, including any relevant insights or observations. The report shall also include a summary of the most significant news stories and developments from the past week.

9.3 Ad-Hoc Alerts

• Frequency: As requested by the COR.

• Format: Via email in a PDF or HTML format.

• Content: Ad-hoc alerts shall provide timely notification of high-impact or urgent news and developments relevant to the SEC's work.

9.4 Quality and Content Standards

• The contractor shall ensure that all deliverables are of high quality, accurate, and relevant to the SEC's work.

• The deliverables shall be well-organized, easy to read, and free of errors.

• The contractor shall use clear and concise language in the deliverables, avoiding technical jargon or complex terminology whenever possible.

• The contractor shall ensure that the deliverables are consistent in terms of format, style, and content.

The contractor shall ensure that all deliverables meet the requirements and standards outlined in this section, and shall be prepared to revise or re-deliver any deliverables that do not meet these standards.

10. Period of Performance

The anticipated period of performance consists of a 12-month base year.

11. Work Schedule and Hours of Coverage

The contractor shall provide news monitoring services during the following hours:

• Monday through Friday, excluding federal holidays, from 8:00 a.m. (ET) to 6:00 p.m. (ET).

• The contractor shall ensure that the daily news digest is delivered by 5:00 a.m. (ET) each business day, and that ad-hoc alerts are responded to within 30 minutes of receipt of a request from the COR.

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The contractor shall maintain a 24/7/365 coverage plan to ensure that news monitoring services are available at all times, including outside of regular business hours.

The contractor shall provide a primary point of contact and an alternate point of contact to ensure that the government has access to the necessary personnel in case of an emergency or urgent request.

The contractor shall also be available to respond to requests from the COR during regular business hours (8:00 a.m. to 5:00 p.m., ET, Monday through Friday, excluding federal holidays). The contractor shall respond to requests for information or assistance within the timeframe specified in the request, or within 2 hours if no specific timeframe is specified.