Popular, Anti-Money Laundering, Broker-Dealer

Top 5 SEC Enforcement Developments for May 2025

Morrison & Foerster LLP on 6/25/2025

On May 14, 2025, Deputy Enforcement Director Antonia Apps told those gathered at an anti‑money laundering conference in Washington, D.C. to expect a more measured approach from SEC Enforcement. That may include, she...more

Recent SEC AML Enforcement Against Securities Firms Engaged in Cannabis Sector

Gordon Rees Scully Mansukhani on 5/22/2025

The evolving regulatory landscape for marijuana-related businesses poses unique compliance challenges for firms in the securities industry. The Financial Crimes Enforcement Network (“FinCEN”) continues to enforce its 2014...more

Enforcement News: Broker-Dealers Settle Charges for Filing Deficient SARs

Freiberger Haber LLP on 12/3/2024

The Bank Secrecy Act (“BSA”) and implementing regulations promulgated by the U.S. Treasury Department’s Financial Crimes Enforcement Network (“FinCEN”) require that broker-dealers file a suspicious activity report (SAR”) with...more

Summarizing the SEC’s 2025 Examination Priorities Report, Part 2

Cozen O'Connor on 11/22/2024

In the second part of this legal update series, we summarize the key takeaways from the Division of Examinations’ (Division) 2025 priorities report released on October 21, 2024. The Division remains focused on mainstays like...more

FinCEN Issues Proposed Rulemaking Aimed at Strengthening and Modernizing AML Programs Across Multiple Industries

Ballard Spahr LLP on 7/16/2024

On July 3, the Financial Crimes Enforcement Network (FinCEN) published a notice of proposed rulemaking (NPRM) as part of a broader initiative to “strengthen, modernize, and improve” financial institutions’ anti-money...more

A Helpful Reminder for Broker-Dealers Subject to Examination by the SEC

Cozen O'Connor on 7/5/2024

On June 5, 2024, the SEC's Division of Examinations (the Division) released a risk alert regarding the examination of broker-dealers. The alert acknowledges the diversity of the broker-dealer population in the marketplace...more

Client Alert: A Second Wave: FinCEN and SEC Further Extend Investment Advisers’ AML Obligations with New CIP Requirements

Jenner & Block on 5/20/2024

In a sequel to FinCEN’s proposal earlier this year to extend anti-money laundering and Bank Secrecy Act regulations to investment advisers (AML/BSA Proposal), on May 13, 2024, FinCEN and the SEC jointly issued a new Notice of...more

Investment Management Update - November 2023

Skadden, Arps, Slate, Meagher & Flom LLP on 11/16/2023

...SEC Adopts Amendments to Fund Names Rule - On September 20, 2023, the U.S. Securities and Exchange Commission (SEC) adopted amendments to Rule 35d-1 under the Investment Company Act of 1940 (the Fund Names Rule) as well...more

SEC Lists Crypto and Information Security Among its 2024 Examination Priorities

White & Case LLP on 11/7/2023

On October 16, 2023, the US Securities and Exchange Commission ("SEC") Division of Examinations ("Examination Division") announced its 2024 Examination Priorities. Registrants should ensure that policies, procedures, and...more

The SEC Publishes 2024 Examination Priorities Ahead of Schedule, Previewing Key Areas of Focus for Registered Entities

K&L Gates LLP on 11/3/2023

On 16 October 2023, the Division of Examinations (Division) of the US Securities and Exchange Commission (SEC) released its examination priorities for the 2024 fiscal year (the Report). The Division released this Report...more

Top 5 SEC Developments for July 2023

Morrison & Foerster LLP on 8/15/2023

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

SEC Releases 2023 Examination Priorities for Registered Investment Advisers and Broker-Dealers

Lowenstein Sandler LLP on 2/17/2023

On February 7, 2023, the U.S. Securities and Exchange Commission (“SEC”) Division of Examinations (the “Division”) released its annual Priorities Report1 for upcoming examinations of registered investment advisers...more

FINRA Facts and Trends - September 2022

Bracewell LLP on 10/3/2022

Welcome to the latest issue of Bracewell’s FINRA Facts and Trends, a monthly newsletter devoted to condensing and digesting recent FINRA developments in the areas of enforcement, regulation and dispute resolution. This...more

NFT Lawyer – 5 Things You Must Consider Before Hiring

Oberheiden P.C. on 5/3/2022

NFTs, or non-fungible tokens, are digital assets that are sharply rising in popularity. Every day, individuals are launching new NFT projects with similar or new features compared to prior NFT projects. NFTs are attractive to...more

Cryptocurrency Exchange Founders Plead Guilty to Bank Secrecy Act Violations

Faegre Drinker Biddle & Reath LLP on 3/4/2022

On February 24, 2022, two of three founders of an off-shore cryptocurrency derivatives exchange, the Bitcoin Mercantile Exchange or “BitMEX,” pled guilty to violating the Bank Secrecy Act (BSA) by failing to maintain an...more

5 Anti-Money Laundering Compliance and Defense Tips

Oberheiden P.C. on 5/18/2021

1. AML Laws - Federal anti-money laundering (“AML”) laws are complex in nature and apply to a broad category of institutions and businesses. One of the most important AML laws is the Bank Secrecy Act, which obligates...more

Interactive Brokers LLC Submits to SEC, FINRA, and CFTC Penalties Totalling $38 Over Widespread AML Failures

Mintz - Securities & Capital Markets... on 8/24/2020

Interactive Brokers LLC (“Interactive Brokers”) recently settled with three separate regulatory entities for a total of $38 million, without admitting or denying the findings. According to the SEC, Interactive Brokers failed...more

2020 SEC and FINRA Examination Priorities and Cybersecurity Observations

Nelson Mullins Riley & Scarborough LLP on 2/26/2020

During January of 2020, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (“OCIE”) issued two reports that highlight the work and priorities of OCIE: on January 7, 2020, OCIE issued...more

CFTC, FinCEN, and SEC Warn of Crypto AML Enforcement

Proskauer - Blockchain and the Law on 11/8/2019

Based on a recent regulatory statement, entities involved with cryptocurrency or digital assets should revisit their anti-money laundering and countering the financing of terrorism obligations (AML/CFT) compliance under the...more

Blockchain Week in Review - October 2019

Perkins Coie on 10/18/2019

U.S. Developments - U.S. Federal Regulatory Developments - CFTC, FinCEN, and SEC Leaders Release a Join Statement on Digital Assets - On October 11, 2019, the heads of the Commodity Futures Trading Commission (“CFTC”),...more

Blockchain Week in Review - June 2019 #3

Perkins Coie on 6/27/2019

U.S. Developments - Facebook Announces Formation of Calibra and Launch of Libra - On June 18, 2019, Facebook announced the launch of Libra, a new cryptocurrency designed to have a stable value and be widely accepted...more

Blockchain Week in Review - June 2019 #2

Perkins Coie on 6/19/2019

U.S. Developments - Regulatory Developments - SEC Chair’s Recent Comments on Digital Assets - Securities and Exchange Commission (“SEC”) Chairman Jay Clayton touched on digital asset issues during two recent...more

SEC’s Office of Compliance Inspections and Examinations Announces 2019 Examination Priorities

A&O Shearman on 1/15/2019

The Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) has issued its examination priorities for 2019. In it, OCIE points out that its examination program covers some 13,200...more

Developments in Cryptocurrency in 2018

Akin Gump Strauss Hauer & Feld LLP on 9/24/2018

• The U.S. Securities and Exchange Commission (SEC) staff made official statements regarding when a token may or may no longer be a security • The SEC continued to bring actions related to cryptocurrency offerings against...more

2016 Year in Review: Select SEC and FINRA Developments and Enforcement Cases

Morgan Lewis on 3/1/2017

Executive Summary - The Morgan Lewis Year in Review highlights key US Securities and Exchange Commission (the SEC or the Commission) and Financial Industry Regulatory Authority (FINRA) enforcement developments and...more

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