News & Analysis as of

Regulatory Requirements Recordkeeping Requirements Broker-Dealer

King & Spalding

FINRA Proposes Amendments to The Gifts Rule

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On June 11, 2025, FINRA proposed amendments to Rule 3220 (Influencing or Rewarding Employees of Others) (the “Gifts Rule”) that would raise the annual gift limit per recipient to $250 from $100, as well as codifying...more

Eversheds Sutherland (US) LLP

SEC publishes broker-dealer and transfer agent crypto custody guidance

On May 15, the SEC staff provided guidance to SEC-registered broker-dealers and transfer agents on how they can custody and recordkeep digital assets. According to the guidance, non-securities are not subject to the...more

Eversheds Sutherland (US) LLP

FINRA proposes revisions to SEC-mandated heightened supervision plans for off-channel communications

On May 8, the Financial Industry Regulatory Authority (FINRA) published a blog announcing that it intends to modify the heightened supervision plans (HSPs) imposed as part of certain broker-dealers’ settlements with the US...more

Bracewell LLP

FINRA Facts and Trends: May 2025

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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. We dedicate...more

Stikeman Elliott LLP

CIRO Publishes Phase 5 of its Rule Consolidation Project

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The Canadian Investment Regulatory Organization (“CIRO”) has published for comment Phase 5 of its rule consolidation project (the “Rule Consolidation Project”). Phase 5 involves rules relating to outsourcing and service...more

Orrick, Herrington & Sutcliffe LLP

FINRA AWC details reporting failures

On January 27, FINRA accepted a Letter of Acceptance, Waiver, and Consent (AWC) addressing alleged violations committed by the respondent, retail market maker offering execution services to broker-dealers and member firm...more

BCLP

SEC Off-Channel Communications Enforcement Sweep Continues - Settlements by 12 Firms and Assessments of Over $63 Million in...

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On January 13, 2025, the U.S. Securities and Exchange Commission (the “SEC”) announced settled charges against twelve firms for recordkeeping failures related to off-channel communications – i.e., failure to maintain business...more

Ropes & Gray LLP

DOJ Issues Final Rule Restricting Flow of Bulk Sensitive Personal Data to China and Other Countries of Concern

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On January 8, 2025, the Department of Justice (“DOJ”) published its Final Rule to implement President Biden’s Executive Order 14117, “Preventing Access to Americans’ Bulk Sensitive Personal Data and United States...more

Rumberger | Kirk

FINRA Reminds Financial Firms How AI Use Poses Significant Risks

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These days, artificial intelligence is everywhere we look, and the financial services industry is no different. As AI use increases, regulatory bodies are updating their rules and guidelines detailing how companies should and...more

Seward & Kissel LLP

1% Stock Buy Back Tax; Little Relief for Issuers Under Final Tax Regulations

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The U.S. Treasury finalized regulations (the “Regulations”), providing rules for public companies subject to the 1% excise tax on certain redemptions of their publicly traded stock (the “Stock Repurchase Excise Tax”). The...more

Mayer Brown

WhatsApp All Over Again: The SEC Brings More Recordkeeping Charges Against Broker-Dealers and Investment Advisers for Off-Channel...

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On February 9, 2024, the Securities and Exchange Commission (SEC) announced charges against five broker-dealers, seven dually registered broker-dealers and investment advisers, and four affiliated investment advisers for...more

Bilzin Sumberg

SEC Probes Recordkeeping Lapses Arising from Use of Personal Emails and Messaging

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In the last few weeks, several major U.S. financial institutions have disclosed to investors that the United States Securities and Exchange Commission (“SEC”) and/or the Commodities Future Trading Commission (“CFTC”) are...more

Hanzo

Regulatory Compliance on the Web: What Your Website Needs

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Your website is an important part of your business. Chances are, you’re investing both time and money to ensure that it attracts customers and satisfies their needs so that they decide to do business with you. Now that the...more

Hanzo

FINRA Regulatory Requirements for Archiving, Recordkeeping, and Supervision in 2019

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The Financial Industry Regulatory Authority's (FINRA) constantly updated record of disciplinary actions contains a mixed bag of run-of-the-mill infractions, unethical behavior, and large-scale corporate misconduct and...more

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