Daniel A. Nathan

Daniel A. Nathan

Morrison & Foerster LLP

Contact  |  View Bio  |  RSS

Latest Posts › Broker-Dealer

Share:

SEC Annual Conference Highlights 2014 Accomplishments and Promises to Turn Up the Heat in 2015

With Chair Mary Jo White in her second year at the helm, the Securities and Exchange Commission showcased its efforts, improvements, and enforcement successes at this year’s SEC Speaks Conference. The Commission highlighted...more

3/11/2015 - Broker-Dealer Enforcement Actions FCPA Financial Reporting Fraud Insider Trading Mary Jo White SEC

Investment Management Legal + Regulatory Update - February 2015

In This Issue: - SEC Proposes Rule Requiring Hedging Disclosure - SEC Reports the Result of its Cybersecurity Sweep of Broker-Dealers and Investment Advisers - House Passes Bill to Ease Volcker Rule and Other...more

2/27/2015 - Background Checks Broker-Dealer CFTC Compliance Cybersecurity Data Protection Dodd-Frank Enforcement Enforcement Actions Equity Swaps FINRA Hedging Investment Adviser Investment Management OCIE SEC

FINRA Issues its Cybersecurity Report, Providing Tools and Encouragement to Broker-Dealers

FINRA recently issued a Report on Cybersecurity Practices (“Report”), growing out of its targeted examination of firms last year. To issue the Report, FINRA gave careful consideration to the needs of many broker-dealers for...more

2/25/2015 - Broker-Dealer Brokers Corporate Governance Cyber Attacks Cybersecurity Data Breach Data Protection Financial Adviser Financial Institutions FINRA Risk Assessment

The Administration Proposes Imposing a Fiduciary Standard on Retirement Advisers

Yesterday, the Obama administration called on the Department of Labor to draft rules that, in effect, would require brokers who provide retirement advice to abide by a fiduciary standard. In a speech at an event hosted by...more

2/25/2015 - Broker-Dealer Brokers CFPB Dodd-Frank DOL ERISA Fiduciary Duty Financial Adviser Obama Administration Proposed Regulation Retirement Plans SEC

SEC Reports the Result of its Cybersecurity Sweep of Broker-Dealers and Investment Advisers

An SEC cybersecurity sweep examination by the SEC’s Office of Compliance Inspections and Examinations (OCIE) found that 88 percent of the broker-dealers (BDs) and 74 percent of the registered investment advisers (RIAs) they...more

2/13/2015 - Broker-Dealer Cyber Attacks Cybersecurity Data Protection Investment Adviser OCIE SEC

Heightened Scrutiny of Brokers – SEC Approves FINRA’s Proposed Background Check Rule

In recent years, questions have been raised in many quarters about how brokers with questionable backgrounds have been able to move among firms and remain in the industry. FINRA has responded by enhancing a broker-dealer’s...more

1/14/2015 - Background Checks Broker-Dealer FINRA Proposed Regulation Registration SEC

FINRA Issues a Packed Priorities Letter for 2015

FINRA opened 2015 with a lengthy and ambitious agenda of regulatory priorities. This year’s Regulatory and Examination Priorities Letter is much longer than those issued the last two years, and repeats many of those years’...more

1/9/2015 - Alternative Investment Funds Alternative Mutual Funds Broker-Dealer Conflicts of Interest FINRA Interest Rates IRA Private Placements Regulatory Agenda REITS Securities-Backed LOC Variable Annuities

FINRA Sanctions Member Firm for Failure to Deliver ETF Prospectuses

FINRA recently sanctioned a broker-dealer (the “Firm”) for failure to deliver prospectuses in connection with its sale of ETFs. FINRA also found that the Firm failed to implement a supervisory system reasonably designed to...more

12/19/2014 - Broker-Dealer Enforcement Actions ETFs FINRA Prospectus

SEC and PCAOB Combine Their Focusses on Broker-Dealer Audits and Independence in Settlements with Fifteen Audit Firms

On December 8, 2014, the Securities and Exchange Commission (SEC) and Public Company Accounting Oversight Board (PCAOB) announced settlements with fifteen audit firms for violating independence rules applicable to auditors of...more

12/15/2014 - Auditors Audits Broker-Dealer Independence Rules PCAOB SEC

Investment Management Legal + Regulatory Update -- December 2014

In This Issue: - Regulation ..SEC Chair’s Agenda Provides Glimpse of New Rules to Come ..The Results Are In: Investors Favor Additional Regulatory Protection ..SEC Declines to Approve Non-Transparent...more

12/11/2014 - Alternative Mutual Funds Broker-Dealer Disclosure Requirements ETFs Exchange-Traded Products Investment Management Referral Fees SEC

Heightened Supervision of Branch Offices — Tips for the Coming Year

In recent years, the Securities and Exchange Commission (SEC) and Financial Industry Regulatory Authority (FINRA) have heightened their expectations of what constitutes a “comprehensive” branch self-inspection program. Firms...more

12/5/2014 - Audits Broker-Dealer Enforcement FINRA Internal Controls OCIE Risk Assessment SEC

Structured Thoughts: Volume 5, Issue 8 - December 2014

In This Issue: - Key Regulators Speak at Structured Products Conference - FINRA Shows Its CARDS; It Will Use Big Data to Review Suitability of Complex Products Sales - FINRA’s Proposed Bond Mark-up...more

12/2/2014 - Advertising Big Data Broker-Dealer CARDS Disclosure Requirements Exchange-Traded Products FINRA Regulatory Agenda Regulatory Standards SEC Structured Financial Products

SEC Staff Finds that Broker-Dealers Still Are Not Conducting Adequate Section 5 Reviews

The staff of the SEC recently addressed broker-dealers’ obligations when engaging in transactions in unregistered securities by issuing FAQs and a Risk Alert that reported the results of examinations of a number of...more

10/22/2014 - Anti-Money Laundering Broker-Dealer Compliance SEC Securities Act of 1933 Unregistered Securities

Takeaways From Broker-Dealers’ Section 5 Inadequacies

The staff of the U.S. Securities and Exchange Commission recently addressed broker-dealers’ obligations when they engage in transactions in unregistered securities by issuing FAQs and a risk alert that reported the results of...more

10/22/2014 - Anti-Money Laundering Broker-Dealer Compliance Fraud Market Manipulation SEC Unregistered Securities

SEC Charges Broker-Dealer for Failure to Protect Against Insider Trading by Employees

The Securities and Exchange Commission for the first time brought charges against a broker-dealer for failure to adequately protect against insider trading by its employees. The charges stem from a broker’s use of a...more

10/1/2014 - Broker-Dealer Confidential Information Employer Liability Issues Enforcement Actions Insider Trading Investment Adviser Policies and Procedures SEC

Ninth Circuit Brookstreet Decision Upholds Control Person Liability

The Ninth Circuit recently found the principal of a broker-dealer liable for the extensive and aggravated sales practice violations of the firm’s registered representatives. In its unpublished decision (not to be cited as...more

9/9/2014 - Broker-Dealer Professional Liability SEC Summary Judgment

Lying to Examiners Can Lead Quickly to Criminal Charges

Hell hath no fury like a regulator (allegedly) lied to. This week, the SEC brought civil charges, and the U.S. Attorney for the Southern District of New York brought criminal charges, against a broker-dealer and its founder...more

8/14/2014 - Books & Records Broker-Dealer Criminal Prosecution Falsified Documents Lying SEC

Additional Fees on Securities Transactions – FINRA Sees No Justification

In an area of broker-dealer practices with relatively little guidance—the appropriate level of commissions or mark ups on securities trades—FINRA recently brought another in a series of cases that provides insight into the...more

7/30/2014 - Broker-Dealer Disclosure Requirements FINRA NASD Sales Commissions Securities Stock Trades Transaction Fees

Investment Management Legal + Regulatory Update -- June 2014

In This Issue: - Regulation ..SEC Begins to Scrutinize Registrants’ Cybersecurity Practices ..SEC Staff Sets Boundaries for Adviser Testimonials in Social Media ..Chair White: SEC to Tackle High-Frequency...more

6/16/2014 - Broker-Dealer Cybersecurity Dark Pool FINRA High Frequency Trading Investment Adviser Issuers JOBS Act Legislative Agendas Marijuana New Legislation Private Equity Funds SEC SEC Commissioner SIFIs Transaction Fees

Pre-IPO Selling Procedures Need to Be Adequately Supervised, According to FINRA

Broker-dealers selling interests in IPOs need to have adequate supervisory systems to ensure that registered representatives do not make actual sales before the securities are registered, according to a settlement of a formal...more

5/9/2014 - Anti-Spinning Provisions Broker-Dealer Due Diligence FINRA IPO Registration Section 5 Securities

FINRA Board of Governors Invalidates Class Action Waivers in Customer Account Agreements

In an April 24th ruling that will have widespread impact among financial institutions, the FINRA Board of Governors held that a broker-dealer violated FINRA rules by including a mandatory class action waiver in its customer...more

4/30/2014 - Broker-Dealer Charles Schwab Class Action Arbitration Waivers Federal Arbitration Act FINRA

Securities Regulators Are Inspired by an Academic Article to Seek Information Regarding Order Routing

Apparently attempting to understand how broker-dealers provide best execution in the face of incentives to trade at certain exchanges, the SEC and FINRA are asking broker-dealers for extensive transaction information...more

4/29/2014 - Broker-Dealer FINRA Rebates SEC Section 17(a) Stock Trades Transaction Fees

A Blast from the Past: The SEC Fines Investment Adviser/Broker-Dealer for Breakpoint Violations

In a case reminiscent of the “breakpoint” enforcement actions brought 10 years ago by securities regulators, the SEC recently found that a registered investment adviser and broker-dealer overcharged clients because it...more

4/11/2014 - Broker-Dealer Enforcement Actions Fees Investment Adviser SEC

FINRA Focuses AML Enforcement on a BD Doing Business in Mexico

The Financial Industry Regulatory Authority (FINRA) recently took formal disciplinary action against a New York-based broker-dealer that is affiliated with a Mexican broker-dealer and a Mexican bank for inadequate anti-money...more

2/7/2014 - Anti-Money Laundering Broker-Dealer FINRA Foreign Banks Mexico

Private Company M&A Brokers Don’t Need to Register With the SEC as Broker-Dealers

On January 31, 2014, the SEC issued a ground-breaking no-action letter, taking the position that a financial intermediary that limits its business activity to advising privately held companies in M&A transactions need not...more

2/7/2014 - Broker-Dealer No-Action Letters Registration SEC

43 Results
|
View per page
Page: of 2

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.
×