Popular, Broker-Dealer, Financial Industry Regulatory Authority (FINRA)

Industry Pushback Against FINRA: A Growing Challenge to Its Authority

Kohrman Jackson & Krantz LLP on 8/8/2025

Over the last few years, broker dealers and financial advisors have filed a flurry of legal actions seeking both: (1) to strip the Financial Industry Regulatory Authority (FINRA) of its power to adjudicate customer and...more

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

FINRA Publishes Metaverse Report and Requests Industry Comments

Goodwin on 10/28/2024

FINRA’s Office of Financial Innovation published a report on “The Metaverse and the Implications for the Securities Industry” to raise awareness among its member firms and the broader securities industry and seek industry...more

FINRA Sanctions Broker-Dealer for Failure to Supervise Recommendations of Structured Notes

Mayer Brown Free Writings + Perspectives on 10/9/2024

A broker-dealer failed to reasonably supervise its registered representatives when making recommendations of certain variable rate structured products (“VRSPs”), including fixed to floating rate steepeners and other variable...more

Weekly Blockchain Blog - September 2024 #2

BakerHostetler on 9/16/2024

According to recent reports, two U.S. multinational financial technology companies have integrated Ethereum Name Service (ENS), a decentralized naming system built on the Ethereum blockchain, into their payment platforms....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

Marketing Private Funds to U.S. Investors — A Practical Guide for Asia-Based Managers

Morrison & Foerster LLP on 7/6/2023

As the private equity (“PE”) and venture capital (“VC”) funds industry grows and matures in Asia, managers are increasingly looking to market interests in their funds to U.S.-based investors. However, many Asia-based managers...more

FINRA Re-Proposes Work-From-Home Supervisory Locations

Goodwin on 4/11/2023

Firms would be able to treat private residences as non-branch offices instead of OSJs under certain circumstances. FINRA hopes to align its supervisory rules with current work-from-home practices....more

New FINRA sweep targets crypto marketing

Eversheds Sutherland (US) LLP on 11/16/2022

As might be expected, FINRA appears to be aligning itself with the SEC in its assertion of jurisdiction over investments that may not, at the end of the day, be deemed securities. ...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

SEC Publishes Sample Climate Change Comment Letter

Goodwin on 9/24/2021

In This Issue. The U.S. Securities and Exchange Commission (SEC) published a sample comment letter on climate change disclosures; the Financial Industry Regulatory Authority (FINRA) is conducting a review of brokerage firm...more

Intriguing FINRA Enforcement Action In the Bond Market: More to Come?

ArentFox Schiff on 9/22/2021

In June, FINRA reminded broker-dealers of their best execution obligations which are derived from common law agency principles and fiduciary obligations. The best execution obligation is incorporated in applicable MSRB rules...more

FINRA Reminds Broker-Dealers of their Obligations to Safeguard Customer Information and to Build Controls Designed to Protect...

BCLP on 5/27/2021

Key Takeaways: ..According to FINRA, the number of reported instances involving broker-dealer fraudulent account takeovers (ATO) and related theft is on the rise. ..As set forth in recently released FINRA Regulatory...more

Blockchain Week in Review - December 2020

Perkins Coie on 12/14/2020

U.S. Developments - Legislation - Congress Members Introduce Stablecoin Legislation - On December 2, 2020, Congresswoman Rashida Tlaib (MI-13), Congressmen Jesús “Chuy” García (IL-04) and Chairman of Task Force on...more

The Trouble With Texts

UB Greensfelder LLP on 10/20/2020

Having completed my Enforcement hearing conducted by Zoom – more about that in an upcoming post – I can finally turn my attention back to some matters that arose while I was busy. One that stood out for the sheer (and...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

OCIE Raises Concerns Regarding Physical and Cyber Security, Supervision, and Business Continuity

Perkins Coie on 8/19/2020

The Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission (the SEC) issued a risk alert (the risk alert) on August 12, 2020, highlighting COVID-19 pandemic-related risks and...more

Financial Services Weekly News: FDIC Releases Guide To Connect Fintechs With Banks

Goodwin on 2/27/2020

In This Issue. The Federal Deposit Insurance Corporation (FDIC) released a new guide to help financial technology companies and others partner with banks; the Financial Industry Regulatory Authority (FINRA) announced that it...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

When It Comes To Sanctions, What Does “Relevant Disciplinary History” Mean To FINRA, And Does It Vary Depending On The Size Of The...

UB Greensfelder LLP on 1/6/2020

The day after Christmas, FINRA issued a press release announcing that five big firms – Citigroup, J.P. Morgan Chase, LPL, Morgan Stanley and Merrill Lynch – had each entered into a settlement, collectively agreeing to pay a...more

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