News & Analysis as of

Investment Adviser Broker-Dealer Securities Exchange Act

Morgan Lewis

Modernizing FINRA Rules for Member Workplaces: A Call for Comments

Morgan Lewis on

FINRA previously announced in Regulatory Notice 25-04 that it is launching a broad review to modernize its rules regarding member firms and associated persons and identified the modern workplace as its area of initial focus....more

Paul Hastings LLP

SEC Reporting Obligations Under Section 13 and Section 16 of the Exchange Act - UPDATED February 2025

Paul Hastings LLP on

This legal update summarizes (a) the reporting requirements under Section 13(d), (f), (g) and (h) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which are generally applicable to persons that own or...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: 2024 Fourth Quarterly Review

The Nutter Securities Enforcement Update is a periodic update of noteworthy recent securities enforcement activity, settlements, decisions, and charges. We provide brief summaries that highlight recent enforcement action...more

Allen Matkins

SEC Settles "Charges" For Failure To File Timely Form D

Allen Matkins on

Last week, the U.S. Securities and Exchange Commission announced that it had settled "charges" against two private companies and one registered investment adviser for failing to timely file Forms D for several unregistered...more

Holland & Knight LLP

A Long Winter's Nap? SEC Off-Channel Communications Enforcement May Draw to a Close

Holland & Knight LLP on

The SEC's wave of enforcement actions concerning "off-channel" communications did not abate in 2024. In total, the SEC announced more than 70 firms agreed to pay more than a half-billion dollars combined to settle charges for...more

BCLP

SEC Division of Examinations publishes 2025 Examination Priorities

BCLP on

On October 21, 2024, the Division of Examinations (the “Division”) of the U.S. Securities and Exchange Commission (the “SEC”) published its annual Examination Priorities for 2025 (the “Exam Priorities”). Below is a...more

Stark & Stark

More Than $390 Million in Penalties for Recordkeeping Failures

Stark & Stark on

The Securities and Exchange Commission (SEC) announced charges against 26 broker-dealers, investment advisers, and dually-registered firms for widespread and longstanding failures to maintain and preserve electronic...more

Vedder Price

SEC Settles Charges Against Dually-Registered Broker-Dealer and Adviser for Alleged Failure to Address Conflicts of Interest

Vedder Price on

On May 21, 2024, the SEC announced the settlement of administrative proceedings brought against a dually-registered broker-dealer and investment adviser for its alleged failure to address conflicts of interest in compliance...more

Wilson Sonsini Goodrich & Rosati

Looking Ahead to T+1 Settlement for Broker-Dealer Securities Transactions

Beginning May 28, 2024, the standard settlement cycle for most broker-dealer securities transactions will be one business day (T+1) following a trade instead of two business days (T+2), which has been the standard since 2017....more

BCLP

Regulators Impose Extraordinary Fine Amounts in Recent Off-Channel Communications Enforcement Actions

BCLP on

The Securities and Exchange Commission (“SEC”) and the Financial Industry Regulatory Authority (“FINRA”) have, in two separate recent settled enforcement actions involving off-channel communications (“OCC”), imposed fine...more

Seward & Kissel LLP

SEC Releases Materials on T+1 Settlement Cycle Adoption in Advance of May Compliance Date

Seward & Kissel LLP on

Who may be interested: Registered-Investment Companies; Investment Advisers; Broker-Dealers - Quick Take: In May 2023, the SEC adopted several Rules and Rule amendments which, among other things, shorten the standard...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: March 1, 2024

The Nutter Securities Enforcement Update is a periodic update of noteworthy recent securities enforcement activity, settlements, decisions, and charges. We provide brief summaries that highlight recent enforcement action...more

Morgan Lewis

SEC Adopts New Dealer Rules to Capture Liquidity Providers

Morgan Lewis on

On February 6, 2024, the US Securities and Exchange Commission (SEC) adopted new Rules 3a5-4 and 3a44-2 (the Final Rules) under the Securities Exchange Act of 1934 (the Exchange Act) to further define what it means to be...more

Troutman Pepper Locke

How to Avoid a Similar Fate? SEC Charges Firms With Record-Keeping Violations for Off-Channel Communications

Troutman Pepper Locke on

On February 9, the Securities and Exchange Commission (SEC) announced settlements with 16 firms relating to record-keeping violations stemming from off-channel communications totaling $81 million. The 16 firms were five...more

Lowenstein Sandler LLP

SEC Says Language in J.P. Morgan-Affiliate Release Agreements Violates Whistleblower Protections

Lowenstein Sandler LLP on

On January 16, the Securities and Exchange Commission (SEC) announced an $18 million settlement order (Order) with J.P. Morgan Securities LLC (JPMS) that finds that the language of release agreements JPMS entered into with...more

BCLP

SEC Division of Examinations Publishes 2024 Examination Priorities

BCLP on

On October 16, 2023, the Division of Examinations (the “Division”) of the U.S. Securities and Exchange Commission (the “SEC”) published its annual Examination Priorities for 2024 (the “Exam Priorities”). Consistent with the...more

Dorsey & Whitney LLP

SEC Adopts New Short Position and Short Activity Reporting Requirements

Dorsey & Whitney LLP on

The Securities and Exchange Commission (the “SEC”) adopted a new short position and short activity disclosure requirement under Rule 13f-2 of the Securities Exchange Act of 1934 (the “Exchange Act”). Under Rule 13f-2, an...more

White & Case LLP

Rule 144A Fixed Income Securities Won’t Become Subject to Public Information Requirement under Rule 15c2-11

White & Case LLP on

On October 30, 2023, the US Securities Exchange Commission (the "SEC") issued an order (the "Order")1 granting broker-dealers exemptive relief from Rule 15c2-11 ("Rule 15c2-11") under the US Securities Exchange Act of 1934...more

White & Case LLP

SEC’s Focus on Off-Channel Communications Continues

White & Case LLP on

On September 29, the US Securities and Exchange Commission ("SEC") brought its latest wave of enforcement actions related to "off-channel communications," charging 10 additional firms with failing to maintain employee...more

BCLP

SEC Proposes Stringent New Conflict-of-Interest Rules Regarding Broker-Dealers’ and Investment Advisers’ Use of AI

BCLP on

On July 26, 2023, the majority of the Commissioners of the U.S. Securities and Exchange Commission (the “SEC”) voted to propose new rules under the Securities Exchange Act of 1934 and the Investment Advisers Act of 1940 to...more

WilmerHale

Broker-Dealers and Advisers Beware: The SEC’s “PDA” Proposal Could Upend Firms’ Interactions With Customers, Clients and Investors

WilmerHale on

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

Seward & Kissel LLP

SEC Enforcement of Off-Channel Communications Continues - New Series of Firms Charged with Penalties Totaling $289 Million

Seward & Kissel LLP on

Summary of the Recent SEC Actions - On August 8, 2023, in yet another set of enforcement actions in the space, the U.S. Securities and Exchange Commission (the “SEC”) settled charges against ten broker-dealers and a dually...more

Seward & Kissel LLP

SEC Charges 11 Firms with Widespread Recordkeeping Failures

Seward & Kissel LLP on

Who may be interested: Registered Investment Advisers, Broker-Dealers, Registered Investment Companies, Boards of Directors - Quick Take: The SEC recently settled charges against ten broker-dealers and one dually...more

Morrison & Foerster LLP

Top 5 SEC Developments for July 2023

In order to provide an overview for busy in-house counsel and compliance professionals, we summarize below some of the most important SEC enforcement developments from the past month, with links to primary resources. This...more

Vedder Price

Regulatory Scrutiny of “Off-Channel” Communications Continues: 11 Wall Street Firms Agree to Pay the SEC $289 Million in Civil...

Vedder Price on

On August 8, 2023, the United States Securities and Exchange Commission (the “SEC” or the “Commission”) announced that 11 Wall Street firms (10 broker-dealer firms and one dually-registered investment adviser) agreed to...more

93 Results
 / 
View per page
Page: of 4

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide