News & Analysis as of

Securities and Exchange Commission (SEC) Broker-Dealer Investigations

Sheppard Mullin Richter & Hampton LLP

Chairman Atkins Outlines SEC’s New Roadmap for Crypto Reform

In a May 12, 2025 Keynote Address before the U.S. Securities and Exchange Commission (“SEC”) Crypto Task Force’s fourth industry roundtable on digital assets, newly-minted Chair Paul Atkins laid out a sweeping vision for...more

Seward & Kissel LLP

SEC Fines Twenty-Six Firms for Recordkeeping Failures in Latest Off-Channel Communications Sweep

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Who may be interested: Investment Advisers; Broker-Dealers; Registered Investment Companies - Quick Take: The SEC settled charges against twenty-six firms, including three investment advisers, eleven broker-dealers, and 11...more

Sheppard Mullin Richter & Hampton LLP

What Private Equity Firms Need to Know About the Ongoing SEC Investigation of “Off-Channel” Communications

Over the last several years, the Securities and Exchange Commission (“SEC”) has been laser-focused on the use of so-called “off-channel communications” in the financial services industry. On the theory that employees’ use of...more

Davis Wright Tremaine LLP

Broker Dealer Regulatory Digest - March 2024 - 2

Editor's Note - The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency,...more

Akin Gump Strauss Hauer & Feld LLP

SEC Announces First Off-Channel Communications Enforcement Action Against a Standalone Private Fund Manager

On April 3, 2024, the U.S. Securities and Exchange Commission (SEC) announced its first enforcement action against a registered investment adviser (RIA) with no ties to a broker-dealer regarding so-called “off-channel”...more

Harris Beach Murtha PLLC

SEC Examination Priorities for 2024

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The United States Securities and Exchange Commission’s Division of Examinations announced its examination priorities for fiscal year 2024 on October 16, 2023. The timing of the announcement is significant because it is the...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

Sheppard Mullin Richter & Hampton LLP

SEC Off-Channel Communications Sweep

Over the last several years, the Securities and Exchange Commission (the “SEC”) and the Commodities Futures Trading Commission (“CFTC”) have been laser-focused on the use of so called “off-channel communications” in the...more

Holland & Knight LLP

SEC to Keep Watchful Eye on Digital Asset Trading Platforms - Commission's Focus on Securities Exchange Laws, Reg ATS and Expanded...

Holland & Knight LLP on

In July 2017, the SEC issued its landmark DAO Report, which clarified, among other things, its view that digital tokens with characteristics akin to those of an "investment contract" as established in SEC v. W.J. Howey Co....more

Oberheiden P.C.

The SEC Investigation Process: An Overview

Oberheiden P.C. on

The U.S. Securities and Exchange Commission (SEC) investigates companies, brokerage firms, and individuals for a broad range of statutory and regulatory violations. These investigations can lead to civil or administrative...more

Sheppard Mullin Richter & Hampton LLP

Game On: FINRA Hints at Upcoming Gamification Sweep

During a May 19, 2021 webcast at the Financial Industry Regulatory Authority’s (“FINRA”) annual conference, Amy Sochard, FINRA’s Vice President of Advertising Regulation, indicated that the organization will seek public...more

UB Greensfelder LLP

I Am “Investigating” The Fact That Claimant’s Lawyers Use BrokerCheck In A Way FINRA Did Not Intend

UB Greensfelder LLP on

I get the fact that anyone silly enough to work for a broker-dealer knowingly chooses to live in a fishbowl. Thanks to BrokerCheck, you can very easily learn more about a registered representative than you can about, say, a...more

Faegre Drinker Biddle & Reath LLP

SEC Enforcement Expanding Efforts Regarding Coronavirus Impacts

As we described several weeks ago, the SEC across the agency is going to be vigilant in its efforts to regulate, examine and enforce the federal securities laws regarding coronavirus/COVID-19. More recently, the SEC Division...more

Katten Muchin Rosenman LLP

Bridging The Week - September 2019 #2

An interdealer broker agreed to pay a fine of US $13 million to the Commodity Futures Trading Commission to resolve charges that it failed to supervise brokers on a swaps desk that allegedly made numerous false or misleading...more

BCLP

In Finding a Failure to Reasonably Supervise, SEC Highlights Responsibilities of Firms to Create Clear, Written Investigatory...

BCLP on

A recent Securities and Exchange Commission (“SEC”) order imposed sanctions on a financial institution for failing to reasonably supervise a representative’s conduct. In its findings, the SEC highlights the institution’s...more

Mintz

EB-5 Due Diligence Matters

Mintz on

Private placement offerings are an increasingly active part of the securities business. One especially complicated and emerging area of private placements is the EB-5 Investor Visa Regional Center Program. Under the current...more

Goodwin

SEC Staff Announces 2014 Broker-Dealer Examination Priorities

Goodwin on

The SEC’s Office of Compliance Inspections and Examinations (“OCIE”) announced the 2014 examination priorities (the “Announcement”) for its National Examination Program (the “NEP”). The priorities are organized according to...more

Orrick - Finance 20/20

SEC Announces Examination Priorities for 2014

Orrick - Finance 20/20 on

On January 9, the SEC announced its examination priorities for 2014, which cover a wide range of issues at financial institutions, including investment advisers and investment companies, broker-dealers, clearing agencies,...more

Eversheds Sutherland (US) LLP

Ready or Not: Lost Securityholders, Uncashed Checks and Dormant Accounts

In the dog days of August, it would be tempting to put aside challenges created by new Securities and Exchange Commission (SEC) rules. But we all know that would be a mistake. Instead, attention needs to be paid now to new...more

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