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
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
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
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 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
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