On July 26, 2023, the Securities and Exchange Commission (SEC or Commission) narrowly approved (3-2) a proposed rulemaking under the Securities Exchange Act of 1934 (Exchange Act) and the Investment Advisers Act of 1940...more
8/18/2023
/ Analytics ,
Broker-Dealer ,
Conflicts of Interest ,
Electronic Communications ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Investors ,
Predictive Analytics ,
Proposed Regulation ,
Retail Investors ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act
On December 14, 2022, the Securities and Exchange Commission (the SEC or Commission) proposed Regulation Best Execution (Proposed Reg Best Ex), which would establish through Commission rules a federal best execution...more
One of the world’s largest cryptocurrency exchanges - FTX Trading Ltd. - and many of its affiliates filed for bankruptcy earlier this month. While the full impact of the FTX bankruptcy is not yet clear, various responses from...more
12/1/2022
/ Biden Administration ,
CFTC ,
Chapter 11 ,
Commercial Bankruptcy ,
Corporate Counsel ,
Crypto Exchanges ,
Cryptocurrency ,
Federal Reserve ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Regulatory Agencies ,
Financial Services Industry ,
Financial Stability Board ,
G20 ,
Market Participants ,
Regulatory Agenda ,
Regulatory Authority ,
Regulatory Oversight ,
Securities and Exchange Commission (SEC)
On October 12, 2022, the Securities and Exchange Commission (SEC or Commission) voted to adopt amendments to the electronic recordkeeping requirements for broker-dealers and security-based swap dealers contained in Rules...more
On July 27, 2022, the SEC charged three broker dealers for violations of the Identity Theft Red Flags Rule (also known as “Regulation S-ID”), with penalties ranging from $425,000 to $1,200,000. The regulation requires that...more
Firms must demonstrate a “good faith effort” to comply.
Last month, SEC Chairman Clayton issued a public statement communicating that firms should not expect a delay of the June 30, 2020 compliance date for Regulation Best...more
On April 2, SEC Chairman Clayton issued a public statement concerning the SEC’s implementation of Regulation Best Interest (“Reg BI”) and Form CRS, available here. The bottom line: firms should not expect a delay in the Reg...more
The spread of the coronavirus (COVID-19) has presented new and unique challenges for the securities industry. The typical “playbook” for disaster relief and business continuity planning never contemplated a world – as we have...more
FINRA released Regulatory Notice 20-08, “Pandemic-Related Business Continuity Planning, Guidance and Regulatory Relief,” (the Notice) on March 9, 2020. The Notice primarily serves as (1) a reminder of firms’ obligations to...more
On June 5, 2019, the SEC adopted a package of rulemakings and interpretations designed to enhance the quality and transparency of investors’ relationships with broker-dealers and investment advisers. The focal point of this...more
9/3/2019
/ Books & Records ,
Broker-Dealer ,
Conflicts of Interest ,
Deadlines ,
Disclosure Requirements ,
Form CRS ,
Investment Adviser ,
Investors ,
Policies and Procedures ,
Regulation BI ,
Retail Investors ,
Risk Management ,
Rulemaking Process ,
Securities and Exchange Commission (SEC)
On June 5, 2019, the Securities and Exchange Commission (“SEC” or “Commission”) in a divided 3-1 vote, approved a package of rulemakings and interpretations designed to enhance the quality and transparency of investors’...more
6/18/2019
/ Best Interest Standard ,
Broker-Dealer ,
Conflicts of Interest ,
Dodd-Frank ,
Fiduciary Duty ,
Final Rules ,
Financial Services Industry ,
Form ADV ,
Form CRS ,
Investment Adviser ,
Securities and Exchange Commission (SEC)
On September 15, the Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) issued a Risk Alert re-emphasizing the careful scrutiny it will give to the data security practices of...more
9/21/2015
/ Cybersecurity ,
Data Protection ,
Financial Industry Regulatory Authority (FINRA) ,
Obama Administration ,
OCIE ,
Risk Alert ,
Risk Assessment ,
Risk Mitigation ,
Securities and Exchange Commission (SEC) ,
Security and Privacy Controls ,
Vendors
More than ten years after the Global Research Settlement and the adoption of NASD Rule 2711, the Securities and Exchange Commission (SEC or Commission) has approve new FINRA rules addressing conflicts of interest for both...more