BROKER-DEALER -
SEC Provides Notice of Fixed Income Market Structure Advisory Committee -
The Securities and Exchange Commission Fixed Income Market Structure Advisory Committee recently announced that it will hold a...more
1/9/2018
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Distributed Ledger Technology (DLT) ,
EU ,
Exchange-Traded Products ,
Fixed Income Investments ,
MiFIR ,
Reporting Requirements ,
Securitization Standards ,
Short Sales ,
UK Brexit ,
Virtual Currency
CFTC -
CFTC Approves Exemption From SEF Registration Requirements for Multilateral Trading Facilities and Organized Trading Facilities Authorized Within the EU -
On December 8, in response to a request by the European...more
12/18/2017
/ Commodities ,
Consultation ,
Derivatives ,
EU ,
EU Benchmark Regulation ,
Financial Conduct Authority (FCA) ,
MiFID II ,
MiFIR ,
SEFs ,
Senior Management Regime (SMR) ,
Sovereign Debt ,
Third Country Entities (TCEs)
With the vast majority of European Union (EU) regulatory focus recently having been on the Markets in Financial Instruments Directive (MiFID II), it is important not to overlook the impending implementation of the EU's...more
BROKER-DEALER -
FINRA Releases New Targeted Exam Letter Regarding Order Routing Conflicts -
On November 10, the Financial Industry Regulatory Authority released the contents of a new Order Routing Conflicts targeted...more
11/20/2017
/ Agricultural Sector ,
Audits ,
Broker-Dealer ,
CFTC ,
Commodities ,
Derivatives ,
Enforcement Actions ,
EU ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Initial Coin Offering (ICOs) ,
MiFID II ,
No-Action Relief ,
Securities and Exchange Commission (SEC) ,
UK
SEC/CORPORATE -
SEC Division of Corporation Finance Issues C&DI Clarifying Exemptions for Non-GAAP Information in Forecasts for M&A Transactions -
On October 17, the staff of the Securities and Exchange Commission’s...more
11/6/2017
/ C&DIs ,
Commission Delegated Regulation ,
Consolidated Audit Trail ,
EU ,
Financial Conduct Authority (FCA) ,
Futures ,
Margin Requirements ,
No-Action Relief ,
Non-GAAP Financial Measures ,
Regulation S-K ,
UK
On October 26, the Securities and Exchange Commission (SEC) issued three long-awaited letters clarifying how regulatory requirements in the European Union (EU), which go into effect on January 3, 2018, will impact US money...more
SEC/CORPORATE -
Implementation of Pay Ratio Disclosure Requirement Not Expected to Be Delayed -
On September 15, at the ABA Business Law Section Annual Meeting, the Securities and Exchange Commission (SEC) Division of...more
9/25/2017
/ C&DIs ,
Collateralized Debt Obligations ,
Commodity Trading Advisors (CTAs) ,
CPOs ,
Disclosure Requirements ,
EU ,
Executive Compensation ,
Financial Conduct Authority (FCA) ,
MiFID II ,
Mortgage-Backed Securities ,
No-Action Relief ,
Pay Ratio ,
Regulation A ,
Regulation S-K ,
UK
SEC/CORPORATE -
SEC Commissioners Announce Search for First-Ever Advocate for Small Business Capital Formation -
On September 13, the Commissioners of the Securities and Exchange Commission (SEC) announced the launch of...more
SEC/CORPORATE -
SEC Division of Corporation Finance Issues New and Updated C&DIs on Omission of Financial Information from Draft Registration Statements -
Since the adoption of the Fixing America’s Surface...more
9/5/2017
/ C&DIs ,
Corporate Issuers ,
Emerging Growth Companies ,
EU ,
Executive Compensation ,
Interpretive Opinions ,
Investment Adviser ,
Investment Funds ,
Materiality ,
MiFID II ,
Registration Statement ,
UK
SEC/CORPORATE -
SEC Updates to Form ADV FAQs -
On June 12, the staff of the Securities and Exchange Commission’s Division of Investment Management updated its Frequently Asked Questions on Form ADV and IARD. Much of the...more
BROKER-DEALER -
FINRA Issues Notice Regarding Disruptive Quoting and Trading Activity Rule Changes -
On June 7, the Financial Industry Regulatory Authority published Regulatory Notice 17-22, which addresses two rule...more
CFTC -
CFTC Extends Previously Granted No-Action Relief for Swap Dealers Complying With EU Requirements -
On April 18, the Commodity Futures Trading Commission’s Division of Swap Dealer and Intermediary Oversight...more
SEC/CORPORATE -
SEC Adopts Technical Amendments to JOBS Act Rules
On March 31, the Securities and Exchange Commission adopted technical amendments to rules adopted by the SEC under the Jumpstart Our Business...more
CFTC Extends Public Comment Period for Swap Dealers and Major Swap Participants Minimum Capital Requirement Proposal -
On March 16, the Commodity Futures Trading Commission published in the Federal Register its decision...more
BROKER-DEALER -
FINRA Proposes Amendments to Rule Pertaining to Communications with the Public -
The Financial Industry Regulatory Authority (FINRA) is seeking comment with respect to proposed amendments (the...more
SEC/CORPORATE -
Acting SEC Chair Directs Staff to Reconsider Pay Ratio Disclosure Rule -
On February 6, the acting Securities and Exchange Commission Chairman, Michael Piwowar, issued a statement soliciting public...more
SEC/Corporate -
SEC Releases Rule 504 Small Entity Compliance Guide for Issuers -
The Securities and Exchange Commission recently released a Small Entity Compliance Guide for Issuers, which provides a brief summary...more
2/6/2017
/ AIFM ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Conflict Mineral Rules ,
EDGAR ,
Electronic Blue Sheets ,
Electronic Filing ,
EMIR ,
EU ,
European Economic Area (EEA) ,
Form SHC ,
MiFID II ,
No-Action Relief ,
Rule 504 ,
UK ,
UK Brexit
SEC Updates to Form PF FAQs -
On January 18, the Securities and Exchange Commission’s Division of Investment Management updated its Form PF FAQs. Registered investment advisers managing private funds with at least $150...more
1/30/2017
/ Article 50 Treaty of the EU ,
Asset Management ,
EU ,
Form PF ,
Hart-Scott-Rodino Act ,
IOSCO ,
MSRB ,
Regulation AT ,
Residual Interest ,
Threshold Requirements ,
UK ,
UK Brexit
SEC/CORPORATE -
President-Elect Trump Nominates Clayton as SEC Chair -
On January 4, President-elect Donald Trump announced his nomination of Jay Clayton to serve as chair of the Securities and Exchange Commission,...more
1/9/2017
/ Derivatives Clearing Organizations ,
Equity Plans ,
EU ,
European Securities and Markets Authority (ESMA) ,
Examination Priorities ,
FFIEC ,
Forex ,
Institutional Shareholder Services (ISS) ,
MiFID II ,
No-Action Relief ,
Trump Administration ,
UK Brexit
SEC/CORPORATE -
SEC Division of Corporation Finance Issues 35 New C&DIs Regarding Foreign Private Issuers, QIBs and Offshore Offerings -
On December 8, the staff (Staff) of the Securities and Exchange Commission’s...more
12/19/2016
/ Australia ,
Banking Examinations ,
C&DIs ,
Central Counterparties ,
Counterparties ,
EU ,
FDIC ,
Foreign Private Issuers ,
Mexico ,
No-Action Relief ,
Regulation S ,
Transitional Arrangements ,
UK Brexit
ISS Releases 2017 Proxy Voting Guideline Updates -
On November 21, ISS published its 2017 Proxy Voting Guideline Updates, which will be in effect for meetings held on or after February 1, 2017. The US 2017 updates cover...more
12/5/2016
/ C&DIs ,
CFTC ,
EU ,
European Commission ,
Financial Conduct Authority (FCA) ,
Forex ,
Glass Lewis ,
Institutional Shareholder Services (ISS) ,
NFA ,
Proxy Season ,
UK ,
UK Brexit
SEC Issues New C&DI Relating to Submission of Annual Reports to SEC -
On November 2, the Division of Corporation Finance (Division) of the Securities and Exchange Commission issued a new Compliance and Disclosure...more
11/14/2016
/ C&DIs ,
Canada ,
Chief Compliance Officers ,
Corporate Governance ,
EU ,
Forex ,
MiFID II ,
MiFIR ,
Passporting ,
Pay-for-Performance ,
Proxy Season ,
UK ,
UK Brexit
SEC/CORPORATE -
SEC Division of Corporation Finance Issues C&DIs on Exempt Offerings Under Rule 701 and Sales of Securities Under Rule 144(d) -
On October 19, the staff of the Division of Corporation Finance of...more
SEC/CORPORATE –
SEC Division of Corporation Finance Issues Five Additional C&DIs Relating to Pay Ratio Disclosure Rule –
On October 18, the Securities and Exchange Commission’s Division of Corporation Finance...more
10/24/2016
/ C&DIs ,
Capital Acquisition Broker (CAB) ,
EU ,
Money Market Funds ,
Pay Ratio ,
Regulation S-K ,
Remuneration ,
RTO ,
TRACE ,
UCITS ,
UK
BROKER-DEALER –
“Trade Match” and “Trade Acceptance” Clearing Submissions on FINRA’s Alternative Display Facility –
On October 7, the Financial Industry Regulatory Authority issued a Trade Reporting Notice regarding...more