Non-SEC Reporting US and Canadian companies may now raise up to $50 million in a 12-month period under an expanded exemption from the registration requirements of the Securities Act of 1933 (the “Securities Act”) under...more
On September 25, 2014, the U.S. Securities and Exchange Commission (the “SEC”) solicited public comment on proposed FINRA rule changes (the “proposal”) that would substantively amend existing NASD and NYSE rules regarding...more
US-registered broker-dealers that operate Alternative Trading Systems will have to report volume information, by security, to FINRA weekly. The first report, for the week of May 12, 2014, is due May 28, 2014. ATS will, by...more
The Office of the Chief Counsel of the Division of Trading and Markets of the Securities and Exchange Commission recently issued an important “No-Action” Letter providing regulatory relief for participants in certain mergers...more
Introduction -
On November 27, 2013, the Securities and Exchange Commission (“SEC”) approved a change (the “Amendment”) to FINRA’s IPO allocation rule 5131 (the “Rule”).The Amendment allows a fund-of-funds to rely on a...more
The US Securities and Exchange Commission recently adopted important changes to the financial responsibility rules for securities broker-dealers, including changes to the regulatory capital and regulatory reporting rules. The...more
8/20/2013
/ Broker-Dealer ,
Compliance ,
Customer Protection Rule ,
GAAP ,
Lenders ,
Net Capital Rule ,
New Regulations ,
Recordkeeping Requirements ,
Reporting Requirements ,
Risk Mitigation ,
Securities and Exchange Commission (SEC)
FINRA has proposed a trade-reporting rule change that would result in the public dissemination of secondary market transactions in corporate debt securities sold under Securities Act Rule 144A. If adopted, this change could...more
On June 20, 2013, the U.S. Financial Industry Regulatory Authority, Inc. (“FINRA”) filed a proposed rule change with the Securities and Exchange Commission (“SEC”) concerning the obligations of members under FINRA Rule 5123...more
Late last week, a senior SEC lawyer encouraged the private equity and hedge fund communities to consider whether certain practices of private fund managers could subject these firms to SEC registration as broker-dealers....more
On March 21, 2013, the staff of the Division of Trading and Markets (the “Staff”) of the US Securities and Exchange Commission (the “SEC”) released responses reflecting the Staff’s views on frequently asked questions (the...more