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Broker-Dealer Regulatory Agenda

Carlton Fields

NAIC Annuity Suitability Working Group Issues Guidance on Insurers’ Oversight of Third-Party Supervising Entities

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On August 7, 2025, the National Association of Insurance Commissioners’ Annuity Suitability (A) Working Group issued draft safe harbor regulatory guidance with a comment period that ends on September 22, 2025. The draft...more

Eversheds Sutherland (US) LLP

Dual registrant regulatory roundup - July 2025

Welcome to the Regulatory Roundup. Each month, Eversheds Sutherland Investment Services attorneys review significant regulatory developments (including notable rulemakings and guidance from securities regulators) from the...more

Paul Hastings LLP

SEC Withdraws 14 Pending Rule Proposals

Paul Hastings LLP on

On June 12, the Securities and Exchange Commission (SEC) formally withdrew 14 proposed rules for investment advisers, broker-dealers and public companies, many of which had been pending for several years. Should the SEC...more

Seward & Kissel LLP

SEC Withdraws 14 Proposed Rules Impacting Investment Advisers, Investment Companies and Broker-Dealers

Seward & Kissel LLP on

June 18, 2025 On June 12, 2025, various divisions within the Securities and Exchange Commission (“SEC”) formally withdrew a number of pending proposed rules which would have affected investment advisers, investment companies,...more

Skadden, Arps, Slate, Meagher & Flom LLP

House Bill on Digital Asset Market Structure Would Significantly Change SEC’s Jurisdiction

On May 5, 2025, several House committees jointly released a discussion draft of a bill to establish a regulatory framework for digital assets. Notably, this proposed Act would clarify the jurisdictional boundaries between the...more

Sheppard Mullin Richter & Hampton LLP

Chairman Atkins Outlines SEC’s New Roadmap for Crypto Reform

In a May 12, 2025 Keynote Address before the U.S. Securities and Exchange Commission (“SEC”) Crypto Task Force’s fourth industry roundtable on digital assets, newly-minted Chair Paul Atkins laid out a sweeping vision for...more

Troutman Pepper Locke

Texas Introduces Legislation to Regulate Sales-Based Commercial Financing

Troutman Pepper Locke on

Last month, the Texas legislature introduced two companion bills, S.B. No. 2677 and H.B. No. 700, to regulate sales-based commercial financing. For purposes of the proposed legislation, sales-based financing is a transaction...more

Morgan Lewis

Do SEC Acting Chair’s Remarks Signal a Redux of Government Securities ATS Rulemaking?

Morgan Lewis on

On March 10, 2025, Acting Securities and Exchange Commission (SEC) Chair Mark Uyeda indicated in public remarks that he was directing the SEC staff to revisit a 2020 proposal under then-Chair Jay Clayton that, among other...more

Faegre Drinker Biddle & Reath LLP

Things I Worry About (10): FINRA Enforcement and Senior Investors (2)

Key Takeaways - FINRA’s 2025 Annual Regulatory Oversight Report 2025-annual-regulatory-oversight-report.pdf included a focus on issues related to retirees and senior investors. - The Report provides guidance to...more

A&O Shearman

IOSCO publishes consultation report on neo-brokers

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The International Organization of Securities Commissions (IOSCO) has published a consultation report on neo-brokers, a subset of brokers which provide online-only investment services and do not operate physical branches....more

Eversheds Sutherland (US) LLP

Dual registrant regulatory roundup - March 2025

Welcome to the Regulatory Roundup. Each month, Eversheds Sutherland Investment Services attorneys review significant regulatory developments (including notable rulemakings and guidance from securities regulators) from the...more

Alston & Bird

Thinking Ahead: Increased and New FINRA Fees for Public Offering and Private Placement Reviews

Alston & Bird on

Our Investment Funds Team reviews changes to two fees from the Financial Industry Regulatory Authority (FINRA) that begin July 1, 2025....more

Mayer Brown Free Writings + Perspectives

SEC Drops Appeal of “Dealer Rule” Litigation

On February 19, 2025, the Securities and Exchange Commission (the “Commission” or “SEC”) dropped its appeal of a ruling by the U.S. District Court for the Northern District of Texas (“District Court”) on November 6, 2024 that...more

Faegre Drinker Biddle & Reath LLP

Things I Worry About (9): FINRA Enforcement and Senior Investors

Among other things, FINRA is focusing on services and recommendations by broker-dealers and their registered representatives to retirees, senior investors and investors with diminished capacity. The Report has one part...more

Latham & Watkins LLP

The SEC’s Crypto Task Force Charts a New Course

Latham & Watkins LLP on

Commissioner Hester Peirce outlined 10 priorities for the Crypto Task Force, aiming for regulatory clarity while promoting innovation in digital asset markets....more

WilmerHale

Opportunities Await: Engaging with the SEC’s Crypto Task Force

WilmerHale on

On February 4, 2025, Commissioner Hester Peirce offered a first glimpse at the Securities and Exchange Commission’s (“SEC”) roadmap for establishing a regulatory framework for crypto. Tasked with leading the SEC’s...more

Eversheds Sutherland (US) LLP

Dual registrant regulatory roundup - December 2024

Welcome to the Regulatory Roundup. Each month, Eversheds Sutherland Investment Services attorneys review significant regulatory developments (including notable rulemakings and guidance from securities regulators) from the...more

WilmerHale

Trump Administration 2.0: How the SEC's Approach to Crypto Could Change

WilmerHale on

The election of Donald J. Trump as President could have a significant impact on the crypto industry given his campaign promise of a pro-crypto administration. President Trump will be able to appoint a new chair of the...more

White & Case LLP

SEC Will Prioritize AI, Cybersecurity, and Crypto in its 2025 Examination Priorities

White & Case LLP on

On October 21, 2024, the US Securities and Exchange Commission ("SEC") Division of Examinations ("Examination Division") announced its 2025 Examination Priorities ("Report"). Investment advisers and broker-dealers should...more

Eversheds Sutherland (US) LLP

Dual registrant regulatory roundup - November 2024

Welcome to the Regulatory Roundup. Each month, Eversheds Sutherland Investment Services attorneys review significant regulatory developments (including notable rulemakings and guidance from securities regulators) from the...more

Carlton Fields

Adviser Loses Customer Crypto: Wallet Key Custody Not Airtight

Carlton Fields on

On June 25, 2024, a final judgment was entered by a federal district court against investment adviser Lufkin Advisors LLC and its principal, Chauncey Lufkin, for losing access to a crypto wallet used to manage a client’s...more

Troutman Pepper Locke

Treasury Department Releases Semiannual Regulatory Agenda

Troutman Pepper Locke on

On August 16, the U.S. Department of the Treasury published its semiannual regulatory agenda in the Federal Register, detailing the agency’s upcoming regulatory actions and priorities. The agenda outlines the proposed, final,...more

Skadden, Arps, Slate, Meagher & Flom LLP

How and When SEC Recordkeeping Rules May Apply to AI-Generated Content

AI has revolutionized the way many businesses operate. Firms in the financial sector are eager to take advantage of rapidly developing technologies but do not want to risk running afoul of relevant Securities and Exchange...more

Faegre Drinker Biddle & Reath LLP

Rollover Recommendations: PTE 2020-02 Compliance Considerations Following the DOL Fiduciary Rule Stay

The effective date of the DOL’s new expansive fiduciary rule and the amendments to Prohibited Transaction Exemption (PTE) 2020-02 has been stayed pending the outcome of the lawsuits challenging the rule and the amended PTE....more

Eversheds Sutherland (US) LLP

Dual registrant regulatory roundup - September 2024

Welcome to the Regulatory Roundup. Each month, Eversheds Sutherland Investment Services attorneys review significant regulatory developments (including notable rulemakings and guidance from securities regulators) from the...more

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