On January 28, the Financial Industry Regulatory Authority (FINRA) published the 2025 update to its annual Regulatory Oversight Report.1 The report collects recent observations and findings from FINRA's oversight programs –...more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
12/17/2024
/ Broker-Dealer ,
CFTC ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Markets ,
Investment Adviser ,
Securities and Exchange Commission (SEC) ,
Trump Administration ,
UK
On November 22, the US Court of Appeals for the District of Columbia Circuit granted Alpine a preliminary injunction, ruling that the Financial Industry Regulatory Authority (FINRA) cannot expel Alpine without the Securities...more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
9/12/2024
/ CFTC ,
Cryptoassets ,
Digital Assets ,
EU ,
Final Rules ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
FinCEN ,
Investment Adviser ,
Securities and Exchange Commission (SEC) ,
UK
In recent years, the US Securities and Exchange Commission (SEC) has initiated several probes into how advisory firms manage their cash sweep programs, which are designed to transfer idle cash from investment advisory...more
The Financial Industry Regulatory Authority (FINRA) released a comprehensive update on its insights into its member firms’ involvement in crypto asset activities, revealing significant trends and compliance challenges in the...more
Katten ESG Guidepost is a monthly publication highlighting the latest news, legal and regulatory developments involving environmental, social and governance matters....more
In the all-encompassing age of social media, a new breed of influencers has emerged — FINfluencers (financial influencers). These individuals leverage their significant number of followers on social mediaon platforms such as...more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
3/14/2024
/ Broker-Dealer ,
CFTC ,
Digital Assets ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Markets ,
FinCEN ,
Investment Adviser ,
Securities ,
Securities and Exchange Commission (SEC) ,
UK
Two new rules that significantly expand who may be required to register as a "dealer" or a "government securities dealer" were adopted by the Securities and Exchange Commission (SEC) on February 6, 2024. As a result of this...more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
2/15/2024
/ Banking Sector ,
CFTC ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Markets ,
Financial Services Industry ,
SCOTUS ,
Securities and Exchange Commission (SEC) ,
UK
As background, the SEC adopted amendments to Rule 15b9-1 of the Securities Exchange Act of 1934 (SEA Rule 15b9-1) that require a broker-dealer to become a FINRA member if the broker-dealer effects transactions other than on...more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
FINRA filed a rule amendment with the SEC on January 2 to propose amending FINRA Rule 3240, Borrowing From or Lending to Customers (SR-FINRA-2024-001). This proposed rule amendment is designed to strengthen the general...more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
12/14/2023
/ Artificial Intelligence ,
CFTC ,
Cryptoassets ,
Cryptocurrency ,
EU ,
False Claims Act (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Markets ,
Machine Learning ,
Non-Fungible Tokens (NFTs) ,
Stablecoins ,
UK
The Financial Industry Regulatory Authority filed a proposed rule change with the Securities and Exchange Commission on November 3, 2023, to amend FINRA Rule 2210. This amendment would allow a broker-dealer to project...more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
9/18/2023
/ Biden Administration ,
Bitcoin ,
Blockchain ,
China ,
Cryptoassets ,
Environmental Social & Governance (ESG) ,
False Claims Act (FCA) ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Services Industry ,
Fund Managers ,
Loans ,
Non-Fungible Tokens (NFTs) ,
Securities ,
Securities and Exchange Commission (SEC) ,
UK ,
UK Brexit
On August 16, Instinet, LLC (Instinet or the Firm) agreed to pay a $3.8 million fine to settle an enforcement action with the Financial Industry Regulatory Authority (FINRA) regarding its alleged failure to comply with...more
The Securities and Exchange Commission (SEC) recently adopted amendments to SEC Rule 15b9-1 that will require virtually every broker-dealer to become a Financial Industry Regulatory Authority (FINRA) member. With these...more
After seven years of extending the implementation date of the original rulemaking adopted in 2016 for Covered Agency Transactions, the SEC approved FINRA's amendments on July 27, 2023, and the amendments will become effective...more
On August 23, 2023, the Securities and Exchange Commission (SEC) adopted amendments to SEC Rule 15b9-1 that effectively will require nearly all broker-dealers to become members of the Financial Industry Regulatory Authority...more
A DC Circuit Court of Appeals challenge to a recent Financial Industry Regulatory Authority (FINRA) enforcement action brings into question whether FINRA should be held accountable to constitutional restrictions on state...more
Ever-Expanding BIPA Damages: Illinois Supreme Court Holds Each Collection or Dissemination of Biometric Data Constitutes a Separate Violation of BIPA -
In an eagerly-awaited decision in Cothron v. White Castle System,...more
3/22/2023
/ Biden Administration ,
Biometric Information ,
California Privacy Protection Agency (CPPA) ,
China ,
Cross-Border ,
Data Collection ,
Data Privacy ,
EU ,
Financial Industry Regulatory Authority (FINRA) ,
IL Supreme Court ,
Online Safety for Children ,
Personal Data ,
Securities and Exchange Commission (SEC) ,
Singapore
FINRA Updates its Sweep on Social Media Influencers, Customer Acquisition and Related Information Protection -
On February 28, the Financial Industry Regulatory Authority (FINRA) provided an update for its sweep on Social...more
FINRA recently filed a proposed rule change with the SEC to yet again delay the implementation date to October 25, 2023, for amendments to Rule 4210 (Margin Requirements) for Covered Agency Transactions....more