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MiFID II and the U.S. Investment Adviser Regime

The issue of how firms should pay for investment research continues to be a controversial topic in the financial markets. The U.S. has maintained the approach it adopted before the mid-2000s, which is to permit investment...more

MiFID II: An Update on the Rules for Unbundling of Research

The issue of how investment research should be paid for by investors is controversial, long-standing and seemingly perennially the subject of legislative iterations, failure and unintended consequence and more reform. Before...more

SEC Proposes Order to Exempt Certain Finders from Broker-Dealer Registration

On October 7, 2020, the U.S. Securities and Exchange Commission (SEC) proposed an order (the “Proposed Order”) that would allow natural persons to engage in limited activities assisting issuers in raising capital without...more

Significant Business Disruptions: Considerations for Broker-Dealers

In light of the threats posed by natural disasters, pandemics and civil disorder, among other events, businesses of all types must formulate responses to address significant business disruptions (“SBDs”) and the safety of...more

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