The proposal would require financial institutions to identify beneficial owners of legal entities and codify existing customer due diligence guidance....more
SEC Chair Mary Jo White outlined a broad market structure proposal that would require high-frequency traders to register with the SEC as dealers and that could signal the end of the dealer-trader distinction....more
The guidance addresses expense arrangements, buy-in procedures, free credit balances, sweep programs, and bulk transfers, among other things.
On March 6, the staff of the Securities and Exchange Commission (SEC) issued...more
In two separate letters, the SEC staff addresses operational concerns raised by broker-dealers in connection with sweep program authorizations and the use of certain nonaffiliated U.S. branches of foreign banks....more
Table of Contents:
Executive Summary; U.S. Securities and Exchange Commission; and Financial Industry Regulatory Authority.
Executive Summary -
This Outline highlights key U.S. Securities and Exchange...more
SEC staff action may head off congressional action to exempt M&A Brokers from registration.
On February 3, the staff of the Securities and Exchange Commission (SEC) issued a no-action letter that permits an M&A broker...more
The limited exemption will provide broker-dealers with more time to make necessary operational or systems changes.
On October 17, the Securities and Exchange Commission (SEC) issued an order providing a temporary...more
Amendments impact many aspects of broker-dealers' back-office operations and will require changes to a number of existing practices.
On July 30, the Securities and Exchange Commission (SEC) adopted amendments to the...more
The no-action relief provided by the staff of the Division of Trading and Markets is generally consistent with the relief previously provided to foreign options markets.
On July 1, the staff of the Securities and...more
Order grants exemptive relief from Exchange Act requirements; parallel CFTC relief expected soon.
On December 14, the Securities and Exchange Commission (SEC) issued an order granting exemptive relief (Exemptive Order)...more