The Bank Secrecy Act (“BSA”) establishes program, recordkeeping, and reporting requirements for certain financial institutions to combat and detect money laundering, terrorist financing, and other illicit activities. On...more
On February 14, 2022, the Securities and Exchange Commission announced a settlement with a crypto lending company in a “first-of-its-kind enforcement action” for failing to register as an investment company under the...more
On January 27, 2022, the Division of Examinations (“EXAMS”) of the U.S. Securities and Exchange Commission (“SEC”) published a Risk Alert with its Observations from Examinations of Private Fund Advisers. This Risk Alert is...more
Recent comments from U.S. Securities and Exchange Commission (SEC) Chair Gensler at the Institutional Limited Partners Association Summit and an SEC Division of Examinations (EXAMS) Risk Alert published on the same day...more
I. Overview -
Broker-dealers, like most companies, rely on third-party vendors for a wide variety of functions. This common practice of outsourcing does not relieve a broker-dealer of its regulatory compliance and...more
The interview below is part of an ongoing effort by McGuireWoods to profile women leaders in private equity (PE). To recommend a woman for a future interview, email Amber Walsh at awalsh@mcguirewoods.com....more
On March 3, 2021, the Securities and Exchange Commission’s Division of Examinations (EXAMS) (formerly the Office of Compliance Inspections and Examinations (OCIE) released its 2021 examination priorities....more
As the pandemic continues, firms have begun to consider whether certain practice and cultural changes spurred by COVID-19 should become more permanent. To date, the U.S. Securities and Exchange Commission (SEC) and Financial...more
The interview below is part of an ongoing effort by McGuireWoods to profile women leaders in private equity (PE). To recommend a woman for a future interview, email Amber Walsh at awalsh@mcguirewoods.com....more
U.S. SECURITIES AND EXCHANGE COMMISSION (SEC) -
SEC Staff No-Action Letter to FINRA: Allowing Technical or Temporary Relief by FINRA -
On May 13, 2020, the Staff of the SEC’s Division of Trading and Markets issued a...more
The Financial Industry Regulatory Authority (FINRA) continues to provide assistance and insight to member firms as the industry deals with COVID-19. Last week, FINRA Executive Vice President Bill Wollman participated in a...more
The U.S. Securities and Exchange Commission (SEC) stated that it will not delay the June 30, 2020, compliance deadline for Regulation Best Interest (Reg BI) and Form CRS. (See McGuireWoods’ April 9 and April 6 alerts.) The...more
For many years, the U.S. Securities and Exchange Commission (SEC) has advocated for increased transparency for municipal securities investors. Given the absence of a statutory scheme for municipal securities reporting, the...more
As reported in prior McGuireWoods alerts, financial services regulators have been issuing guidance and relief to assist the industry as financial services firms and public companies continue to deal with the impact COVID-19...more
As reported in prior McGuireWoods alerts (see April 15, April 6, March 26 and March 17 updates), financial services regulators have been issuing guidance and relief to assist the industry as financial services firms and...more
As reported in prior McGuireWoods alerts (see April 6, March 26 and March 17 updates), financial services regulators have been issuing guidance and relief to assist the industry as financial services firms and public...more
As McGuireWoods reported in an April 6, 2020, legal alert, the U.S. Securities and Exchange Commission (SEC) has indicated that it will not be delaying the June 30, 2020, compliance deadline for Regulation Best Interest (Reg...more
As reported in prior McGuireWoods alerts (see March 26 and March 17 updates), financial services regulators have been issuing guidance and relief to assist the industry as financial services firms and public companies...more
As McGuireWoods reported in a March 17, 2020, alert, “COVID-19: Securities Regulators and Industry Associations Issue Coronavirus Guidance and Relief,” financial services regulators have been issuing guidance and relief in...more
3/27/2020
/ BPA ,
Coronavirus/COVID-19 ,
Corporate Governance ,
Disclosure Requirements ,
Filing Deadlines ,
Filing Requirements ,
Investment Adviser ,
Publicly-Traded Companies ,
Regulatory Requirements ,
Relief Measures ,
Securities and Exchange Commission (SEC) ,
Securities Regulation
As the Coronavirus, or COVID-19, continues to spread, the widespread impact on the markets, trading, firm operations, compliance obligations – every facet of the market, firms, and individuals working in the industry and...more
On Oct. 18, 2019, the Securities and Exchange Commission (SEC) Division of Investment Management staff published Frequently Asked Questions Regarding Disclosure of Certain Financial Conflicts Related to Investment Adviser...more
On June 5, 2019, the SEC adopted Regulation Best Interest (“Reg BI”), which requires broker-dealers and associated persons to make recommendations regarding securities transactions (or investments involving securities) that...more
The interview below is part of a yearlong effort by McGuireWoods to profile up-and-coming women leaders in private equity (PE). This profile series complements our existing Women Leaders in Private Equity profile series,...more
In a Nov. 8, 2017, speech at the Practising Law Institute on Securities Regulation, Securities and Exchange Commission (SEC) Chairman Jay Clayton previewed the SEC’s near-term agenda. In his published remarks, Clayton...more