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Securities Regulation Financial Institutions Broker-Dealer

Katten Muchin Rosenman LLP

SEC Approves In-Kind Creation and Redemption for Crypto Exchange-Traded Products

The US Securities and Exchange Commission (SEC) approved the use of in-kind creation and redemption mechanisms for cryptocurrency exchange-traded product (ETP) shares on July 29.1 This move aligns crypto-based ETPs with...more

Morrison & Foerster LLP

U.S. SEC Extends Compliance Deadline for Recent Amendments to the Customer Protection Rule

On June 25, 2025, the U.S. Securities and Exchange Commission (SEC) voted to extend the compliance deadline for recent amendments to Exchange Act Rule 15c3-3 (the “Customer Protection Rule”) to June 30, 2026. The amendments,...more

McGuireWoods LLP

With Compliance Date for Reg S-P Amendments Looming, Is Your Firm Ready Yet?

McGuireWoods LLP on

Welcome to “SERC’ling Up,” your resource for staying ahead in today’s fast-evolving financial landscape. This newsletter delivers perspectives on the latest enforcement trends, regulatory updates and high-stakes developments...more

Seward & Kissel LLP

What We Have Here Is a Success to Communicate: SEC Releases FAQs for BDs and Transfer Agents Relating to Crypto Asset Activities...

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On May 15, 2025, the staff of the Division of Trading and Markets (the “Staff”) of the Securities and Exchange Commission (“Commission”) released responses to frequently asked questions (“FAQs”) relating to crypto assets and...more

Bressler, Amery & Ross, P.C.

Florida Adopts Additional Protections for Senior Investors in the 2025 Legislative Session

June is Elder Abuse Awareness Month, a time to raise awareness of the growing trend of financial exploitation, which has become one of the most prevalent forms of abuse targeting the senior population. During the 2025...more

K&L Gates LLP

United States: SEC’s Division of Trading and Markets Issues Crypto Asset-Related FAQs (And Withdraws Previous Guidance)

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On 15 May 2025, the US Securities and Exchange Commission’s Division of Trading and Markets (Division) released Frequently Asked Questions (FAQs) clarifying how certain broker-dealer and transfer agency rules relate to crypto...more

Bennett Jones LLP

Screening By the Authorizing Judge: Québec Court of Appeal Upholds the Principle of Partial Dismissal in Salko c. Financière...

Bennett Jones LLP on

On January 30, 2025, the Québec Court of Appeal rendered a judgment in Salko c. Financière Banque Nationale inc., 2025 QCCA 74 (Salko) providing clarity on the application of the Quebec Consumer Protection Act (QCPA) and on...more

Skadden, Arps, Slate, Meagher & Flom LLP

Inside the Courts – May 2025

Key Points - - The SEC’s Crypto Task Force acknowledges past hostility toward digital assets and aims to create more sensible regulations. - Tokenized securities face complex regulatory challenges, including compliance...more

Morgan Lewis

SEC Issues FAQs on Broker-Dealer Crypto Asset Activities, Transfer Agent Blockchain Use

Morgan Lewis on

The Staff of the Division of Trading and Markets of the US Securities and Exchange Commission issued on May 15, 2025 responses to Frequently Asked Questions Relating to Crypto Asset Activities and Distributed Ledger...more

Gordon Rees Scully Mansukhani

Recent SEC AML Enforcement Against Securities Firms Engaged in Cannabis Sector

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

Katten Muchin Rosenman LLP

SEC’s Division of Trading and Markets Issues New FAQ Guidance on Broker-Dealer Custody and Net Capital Treatment of Cryptoassets

The Securities and Exchange Commission (SEC) has taken a significant step toward permitting broker-dealers to custody digital assets and toward accounting for such proprietary digital assets in a broker-dealer’s net capital...more

Lowenstein Sandler LLP

Crypto Brief - Lowenstein Crypto Newsletter - May 15, 2025

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On May 15, the SEC withdrew the joint statement previously issued by the Division of Trading and Markets and the Financial Industry Regulatory Authority, Inc. (FINRA) regarding broker-dealer custody of digital asset...more

Allen Matkins

Broker-Dealers, Investment Advisers And Others May Soon Face Enforcement Under the California Consumer Financial Protection Law

Allen Matkins on

In 2020, the legislature enacted the California Consumer Financial Protection Law.  The CCFPL significantly expanded the regulatory authority of the the Department of Financial Protection & Innovation by granting it the...more

Carlton Fields

Recent SEC AML Enforcement Actions and Likely Continued AML Emphasis Under New Administration

Carlton Fields on

Registered investment advisers have until January 1, 2026, to comply with the anti-money laundering (AML) compliance provisions of the Bank Secrecy Act (BSA). However, the SEC has recently charged two investment advisers with...more

Faegre Drinker Biddle & Reath LLP

Things I Worry About (10): FINRA Enforcement and Senior Investors (2)

Key Takeaways - FINRA’s 2025 Annual Regulatory Oversight Report 2025-annual-regulatory-oversight-report.pdf included a focus on issues related to retirees and senior investors. - The Report provides guidance to...more

A&O Shearman

IOSCO publishes consultation report on neo-brokers

A&O Shearman on

The International Organization of Securities Commissions (IOSCO) has published a consultation report on neo-brokers, a subset of brokers which provide online-only investment services and do not operate physical branches....more

Cozen O'Connor

Edward Jones Settles Multistate Investigation into Commissions and Supervisory Procedures

Cozen O'Connor on

New Jersey AG Matthew Platkin has settled with Edward D. Jones & Co., L.P., as part of a multistate investigation that included 14 states and the North American Securities Administrators Association, over allegations that the...more

Ballard Spahr LLP

Municipal Securities Regulation and Enforcement - 2024 Mid-Year Review

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In the first half of 2024, the Financial Industry Regulatory Authority (FINRA) issued several fines and suspensions against participants in the municipal market, including for violations of its registration, reporting,...more

Eversheds Sutherland (US) LLP

Dual registrant regulatory roundup - July 2024

Welcome to the Regulatory Roundup. Each month, Eversheds Sutherland Investment Services attorneys review significant regulatory developments (including notable rulemakings and guidance from securities regulators) from the...more

Skadden, Arps, Slate, Meagher & Flom LLP

For Financial Institutions: Reminder That Federal Political Activity Can Implicate Certain Pay-to-Play Rules

With the election season in full swing, there is increased interest in political contributions. It is important for financial institutions subject to SEC Rule 206(4)-5 for investment advisers, CFTC Rule 23.451 for swap...more

BCLP

SEC Continues Focus on Insider Trading by Securities Industry Participants

BCLP on

Insider trading is a front-and-center issue for the SEC, and consequently must be for financial services firms as well. The SEC included misuse of material non-public information (MNPI) on its list of 2022 exam priorities for...more

Goodwin

OCC Seeks Feedback on Principles for Climate-Related Financial Risk Management

Goodwin on

In this Issue. The Office of the Comptroller of the Currency (OCC) is seeking feedback on principles for climate-related financial risk management for large banks; the Department of Justice’s Antitrust Division is seeking...more

Herbert Smith Freehills Kramer

OCIE Warns of Increased ‘Credential Stuffing’ Cyberattacks on Investment Advisers, Broker-Dealers

The  Securities and Exchange Commission’s (SEC) Office of Compliance Inspections and Examinations (OCIE) has published a risk alert, warning SEC-registered investment advisers, brokers and dealers about the increasing use of...more

Orrick - On the Chain

In Case You Needed A Reminder – AML/CFT Regulations Apply to Transactions in Cryptocurrencies

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Earlier this month, the leaders of the U.S. Commodity Futures Trading Commission, the Financial Crimes Enforcement Network, and the U.S. Securities and Exchange Commission released a joint statement reminding individuals...more

BakerHostetler

The SEC OCIE Announces Increased Scrutiny of Broker-Dealers’ and Investment Advisers’ Cybersecurity Programs

BakerHostetler on

On September 15, 2015, the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) issued a National Exam Program Risk Alert (2015 Risk Alert) to provide broker-dealers and investment...more

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