As might be expected, FINRA appears to be aligning itself with the SEC in its assertion of jurisdiction over investments that may not, at the end of the day, be deemed securities. ...more
11/16/2022
/ Affiliates ,
Blockchain ,
Broker-Dealer ,
Cryptoassets ,
Cryptocurrency ,
Distributed Ledger Technology (DLT) ,
Financial Industry Regulatory Authority (FINRA) ,
Investment Adviser ,
Marketing ,
Popular ,
Retail Investors ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Unregistered Securities
Now that the dust has settled on the SEC’s enforcement action against fifteen (15) broker-dealers and an investment adviser for violations of SEC recordkeeping rules applicable to the use of personal devices and off-channel...more
On September 27, 2022, 15 broker-dealers and one investment adviser agreed to pay more than $1.8 billion in total civil penalties to the US Securities and Exchange Commission (SEC), and, for those same companies or affiliates...more
10/5/2022
/ Broker-Dealer ,
CFTC ,
Civil Monetary Penalty ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Electronic Communications ,
Enforcement Actions ,
Financial Industry Regulatory Authority (FINRA) ,
Futures Commission Merchants (FCMs) ,
Investment Adviser ,
New Guidance ,
Securities and Exchange Commission (SEC) ,
Swap Dealers ,
Swaps ,
Text Messages
FINRA has identified several items in the SEC’s Regulation Best Interest (Reg BI) that it will examine for in the first half of 2020 as firms prepare for Reg BI compliance.
In this Bottom Line videocast, Susan Krawczyk and...more
2/3/2020
/ Asset Management ,
Broker-Dealer ,
Financial Industry Regulatory Authority (FINRA) ,
Form CRS ,
Investment Firms ,
Investment Management ,
Investors ,
New Rules ,
Regulation Best Interest ,
Regulation BI ,
Securities and Exchange Commission (SEC)
On September 24, 2019, in response to a request for clarification by certain industry groups, the Indiana Attorney General’s Office issued a Memorandum of Legal Guidance (the “MLG”) confirming that the amendments to the...more
Under Nevada law, financial planners owe a fiduciary duty to their clients. In accordance with this duty, a financial planner must disclose, at the time advice is given, any gain the financial planner may receive if the...more
This legal alert is the first in a series addressing the ever-changing regulatory landscape relating to senior investors, state law, and a broker-dealer’s legal obligation, if any, to protect its vulnerable customers. We...more
Introduction -
In addition to the recent increase in regulatory focus on senior investors, earlier this fall, the Financial Industry Regulatory Authority (FINRA) filed a rulemaking proposal (the filing) with the...more
Highlights from FINRA/SIFMA Senior Investor Conference -
On October 22-23, members of the securities industry, academia, regulators, and public policy experts gathered in Washington, D.C., at the joint Financial...more
On December 1, 2014, the Financial Industry Regulatory Authority’s (FINRA) Consolidated Supervision Rules will take effect. The Consolidated Supervision Rules, which were approved by the U.S. Securities and Exchange...more
To ensure that broker-dealers (BDs) do not inadvertently facilitate an unlawful distribution of securities, the Securities and Exchange Commission has long required BDs to conduct a “reasonable inquiry” into the circumstances...more
Financial Industry Regulatory Authority (FINRA) Member Firms have new language to include in their settlement and confidentiality agreements. On October 9, FINRA released Regulatory Notice (RN) 14-40, warning that firms are...more
On July 22, the U.S. Securities and Exchange Commission (SEC) approved the Financial Industry Regulatory Authority’s (FINRA) proposed Rule 2081, which prevents firms or associated persons from conditioning settlement or...more
On January 9, 2014, the U.S. Securities and Exchange Commission (SEC) published its 2014 examination priorities (SEC Letter), just one week after the Financial Industry Regulatory Authority (FINRA) published its 2014...more