Popular, Securities and Exchange Commission (SEC), Retail Investors

SEC Could Broaden Path to Private Equity Fund of Funds Investment

DarrowEverett LLP on 7/14/2025

Since the enactment of the Investment Company Act 85 years ago, the asset management industry has grown from $2 billion in assets to more than $39 trillion in assets. Under existing Securities and Exchange Commission (“SEC”)...more

Crypto as a Security – Applying the Howey Test

Barnea Jaffa Lande & Co. on 8/7/2023

A US court recently handed down a landmark ruling addressing the question of whether the crypto token XRP falls under the definition of “security”. The US court ruled that the same crypto token may be classified differently...more

SEC’s Regulatory Authority over Crypto Assets Questioned

Bilzin Sumberg on 5/26/2023

The regulatory authority of the U.S. Securities and Exchange Commission (“SEC”) over the cryptocurrency industry has recently been challenged on a couple of fronts. One involves a lawsuit filed by the SEC against a Utah-based...more

Regulatory Update and Recent SEC Actions - April 2023

Blank Rome LLP on 4/17/2023

REGULATORY UPDATES - Recent SEC Leadership Changes - On January 10, 2023, the Securities and Exchange Commission (the “SEC”) announced the appointment of Cristina Martin Firvida as director of the Office of the Investor...more

SEC Proposes Radical Transformation of Custody Rule Into New Safeguarding Rule

Goodwin on 2/17/2023

On February 15, 2023, the Securities and Exchange Commission (the “SEC”) proposed a significant transformation of Rule 206(4)-2 (the “Custody Rule”) under the Investment Advisers Act of 1940 (the “Advisers Act”) into a new...more

Online Cryptocurrency Promotion: What Athletes, Celebrities, and Other High-Profile Individuals Need to Know

Oberheiden P.C. on 12/7/2022

Online cryptocurrency promotion—and promotion on social media in particular—has garnered national media attention in recent months. First, the U.S. Securities and Exchange Commission (SEC) announced that it had entered into a...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

SEC Unveils Strategic Plan With Renewed Focus on Technology

Latham & Watkins LLP on 9/16/2022

The plan directs the agency to develop a robust regulatory framework to prevent market misconduct, as SEC officials’ public comments keep advancements in technology high on the agenda. On August 25, 2022, the Securities...more

Regulatory Update and Recent SEC Actions - April 2021

Blank Rome LLP on 4/16/2021

REGULATORY UPDATES - SEC - Leadership Changes On April 14, 2021, the U.S. Senate voted to approve President Biden’s nomination of Gary Gensler as Chairman of the Securities and Exchange Commission (the “SEC”) through June...more

U.S. Broker-Dealers and Investment Advisers: Prepare for Fast Approaching Regulation Best Interest and Form CRS Deadline

Goodwin on 5/19/2020

The compliance date of June 30, 2020, is looming for U.S. broker-dealers subject to Regulation Best Interest (Reg. BI) and broker-dealers and investment advisers required to prepare and provide relationship summaries pursuant...more

FinTech Should Expect Some SEC Scrutiny in 2020

Harris Beach Murtha PLLC on 1/14/2020

On January 7, the SEC’s Office of Compliance, Inspection and Examination (OCIE) issued its annual list of examination priorities for 2020. Among the items identified was a focus on “FinTech”, a broad category of activities...more

“The Opinions Offered Today Are Mine Alone And Do Not Represent The Commission” — A Summary Of Recent Remarks From SEC And CFTC...

UB Greensfelder LLP on 9/30/2019

Anyone who has sat through a talk by financial regulators is undoubtedly familiar with the refrain from the individuals that they do not speak for the Commission and that the opinions offered are their own. Even with that...more

Blockchain Week in Review - September 2019

Perkins Coie on 9/12/2019

U.S. Developments - VanEck and SolidX to Offer Bitcoin ETF to Qualified Institutional Buyers - On September 3, 2019, VanEck Securities Corp. and SolidX Management LLC announced that they are seeking to use Rule 144A of...more

Investment Management Update

Ballard Spahr LLP on 2/15/2019

The Securities and Exchange Commission (SEC) has proposed a new rule and related amendments designed to streamline and enhance the regulatory framework for "fund of funds" arrangements....more

SEC Office of Compliance Inspections and Examinations Release National Exam Program Examination Priorities for 2019

Troutman Pepper Locke on 1/30/2019

On December 20, 2018, the Office of Compliance Inspections and Examinations (“OCIE”) of the Securities and Exchange Commission (“SEC”) issued its 2019 examination priorities letter. OCIE releases examination priorities...more

Skadden's 2019 Insights: SEC Continues Steady Progress With Regulatory, Enforcement Goals

Skadden, Arps, Slate, Meagher & Flom LLP on 1/21/2019

As the Securities and Exchange Commission (SEC) enters the third year of the Trump administration, its regulatory and enforcement goals remain largely unchanged. At the direction of Chairman Jay Clayton, the SEC continues to...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

SEC Staff Announces 2019 OCIE Examination Priorities

Proskauer Rose LLP on 1/11/2019

On December 20, 2018, the staff of the Office of Compliance Inspections and Examinations (OCIE) of the SEC announced its 2019 examination priorities. The examination priorities covered six thematic areas: (i) compliance and...more

SEC Enforcement’s Annual Report Prioritizes Retail Investors, Cryptocurrency, Cybercrime, and Individual Accountability

Sheppard Mullin Richter & Hampton LLP on 11/29/2018

The Enforcement Division of the United States Securities and Exchange Commission (“SEC”) recently released its annual enforcement report (“Report”) for fiscal year 2018. The Report reflects an increased focus on retail...more

SEC Enforcement Division Issues Annual Report: Increase in Enforcement Actions and Focus on Main Street and Cyber-Related Fraud

Skadden, Arps, Slate, Meagher & Flom LLP on 11/8/2018

On November 2, 2018, the U.S. Securities and Exchange Commission (the SEC or Commission) Division of Enforcement (the Division) released its annual report discussing enforcement-related actions and key initiatives (the...more

Takeaways from SEC’s First Ever Enforcement Actions Against Cryptocurrency Firms for Failing to Register as a Broker-Dealer and...

Fenwick & West LLP on 9/27/2018

Over the past year, the U.S. Securities and Exchange Commission has ramped up its scrutiny of cryptocurrencies and other digital token offerings. On Sept. 11, 2018, the SEC escalated its crackdown when it announced a pair of...more

The SEC’s Office of Compliance Inspections and Examinations and FINRA Announce 2018 Examination and Regulatory Priorities

K&L Gates LLP on 2/14/2018

On January 8 and February 7, 2018, respectively, the Financial Industry Regulatory Authority (“FINRA”) and the Office of Compliance Inspections and Examinations (“OCIE”) of the U.S. Securities and Exchange Commission (“SEC”)...more

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