Much has been written on the topic of finders and arrangers of securities transactions, including when a person or entity acting as a finder (i.e., someone who merely makes an introduction) has crossed the line and engaged in...more
9/8/2022
/ Broker-Dealer ,
Finders ,
Investment Adviser ,
Investment Management ,
Retail Investors ,
Securities ,
Securities and Exchange Commission (SEC) ,
Securities Litigation ,
Securities Transactions ,
Securities Violations ,
Unregistered Securities
On July 27, 2022, FINRA filed a proposed rule change with the SEC to make it easier for brokers to work from home. The proposed rule will add a category termed a “Residential Supervisory Location” under FINRA Rule 3110...more
8/16/2022
/ Acquisitions ,
Broker-Dealer ,
Compliance ,
Enforcement Actions ,
Financial Industry Regulatory Authority (FINRA) ,
FinTech ,
Investment Adviser ,
Investment Funds ,
Mergers ,
Registered Investment Advisors ,
Securities and Exchange Commission (SEC) ,
Spoofing ,
UK
Almost all proprietary trading firms that are currently registered as broker-dealers with the Securities and Exchange Commission (SEC) would likely be required to join the Financial Industry Regulatory Authority (FINRA) under...more
Key Points -
- New proposed SEC rules would expand who may be considered a dealer or a government securities dealer under the Securities Exchange Act of 1934.
- If the proposed new rules are adopted, a large group of...more
Payment for order flow (PFOF) and best execution; market access; finfluencers and gamification; and anti-money laundering were some of the most critical emerging and familiar compliance challenges faced by member firms...more
The importance of investment advisers and broker-dealers to comply with obligations under Regulation Best Interest and Form CRS was highlighted by the recent filing of 27 enforcement actions by the Securities and Exchange...more
The Financial Industry Regulatory Authority (FINRA) recently issued a Regulatory Notice (Notice) reminding firms of their obligations with respect to best execution and payment for order flow....more
BROKER-DEALER -
FINRA Publishes 2021 Industry Spotlight -
On May 25, the Financial Industry Regulatory Authority (FINRA) published the 2021 FINRA Industry Spotlight (Industry Spotlight), which is FINRA’s annual...more
BROKER-DEALER -
Notice of Filing of a Proposed Rule Change to Adopt a Supplemental Liquidity Schedule -
The Securities and Exchange Commission is seeking comments on a Financial Industry Regulatory Authority (FINRA)...more
BROKER-DEALER FINRA -
Shares Practices Firms Use to Protect Customers from Online Account Takeover Attempts -
On April 11, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 21-18 (Notice) in...more
BROKER-DEALER -
FINRA Seeks Comment Regarding Diversity and Inclusion Initiatives -
The Financial Industry Regulatory Authority (FINRA) is seeking comment on rules, operations and administrative processes that may...more
BROKER-DEALER -
Gary Gensler Names Initial Senior Staff Members -
On April 19, the Securities and Exchange Commission announced the appointments of SEC Chair Gary Gensler’s senior staff, who will be responsible for...more
SEC/CORPORATE -
SEC Statements Regarding SPACs Address Warrants and Projections -
Following the increase in the number of special purpose acquisition companies (SPACs) and the related business combinations between SPACs...more
SEC/CORPORATE -
SEC Corp Fin Staff Issues Statement on SPAC Transactions -
On March 31, the staff of the Division of Corporation Finance (the Staff) of the Securities and Exchange Commission issued a staff statement...more
BROKER-DEALER -
2021 Advisory Committee Overview and Engagement Notice -
On March 26, the Financial Industry Regulatory Authority (FINRA) published a notice encouraging employees of member firms and other interested...more
Recently, staff of the Securities and Exchange Commission (SEC) issued a no-action letter stating that they would not regard "Institutional Family Offices" as retail customers of broker-dealers for purposes of broker-dealers'...more
SEC/CORPORATE -
Acting SEC Chair Lee Provides Public Statement Welcoming Public Comment on Climate Change Disclosures -
On March 15, Acting Securities and Exchange Commission Chair Allison Herren Lee made a public...more
3/22/2021
/ Broker-Dealer ,
CFTC ,
Climate Change ,
Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Industry Regulatory Authority (FINRA) ,
Investment Adviser ,
NFA ,
Securities and Exchange Commission (SEC)
SEC/CORPORATE -
SEC Staff Releases Sample Comment Letter on Securities Offerings During Periods of Market and Price Volatility -
On February 8, the staff of the SEC’s Division of Corporation Finance (the Staff)...more
BROKER-DEALER -
FINRA New Rule 3241 Becomes Effective February 15 -
On February 15, Financial Industry Regulatory Authority (FINRA) new Rule 3241 — “Registered Person Being Named a Customer’s Beneficiary or Holding a...more
2/8/2021
/ Broker-Dealer ,
Compliance ,
Department of Justice (DOJ) ,
Enforcement Actions ,
EU ,
False Claims Act (FCA) ,
Federal Trade Commission (FTC) ,
Financial Industry Regulatory Authority (FINRA) ,
HM Treasury ,
Investment Adviser ,
Securities and Exchange Commission (SEC) ,
UK
The Securities and Exchange Commission issued a proposed order that, if adopted, would provide an exemption to certain "finders," persons who connect potential buyers and sellers of securities for a fee, from broker-dealer...more
BROKER-DEALER -
FINRA Requests Comments for Proposed Amendments to FINRA Rule 2165 -
On October 5, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 20-34, which requests comment on proposed...more
BROKER-DEALER -
SEC Amends Exchange Act Rule 15c2-11 to Enhance Retail Investor Protections and Modernize Governing Quotations for Over-the-Counter Securities -
On September 16, the Securities and Exchange Commission...more
BROKER-DEALER -
SEC Announces Formation of Cross-Divisional COVID-19 Market Monitoring Group -
On April 24, the Securities and Exchange Commission (SEC) announced the formation of an internal, crossdivision COVID-19...more
BROKER-DEALER -
FINRA Updates Guidance Regarding COVID-19 Developments -
In recent weeks, the Financial Industry Regulatory Authority (FINRA) has offered various forms of relief and published information in response to...more
SEC/CORPORATE -
SEC Approves Temporary NYSE Waiver of Stockholder Approval Rules to Facilitate Capital Raising in the Wake of COVID-19 -
On April 6, the Securities and Exchange Commission issued a release (the Release)...more