Morrison & Foerster LLP - Broker-Dealer Compliance + Regulation

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Firm Profile: Morrison & Foerster LLP
1290 Avenue of the Americas
New York, NY 10104-0050, United States
Phone: (212) 468-8000
Fax: (212) 468-7900
Areas of Practice
  • Finance & Banking
  • Litigation
  • Securities Law
Locations
Other U.S. Locations
  • California
  • Colorado
  • D.C.
  • New York
  • Virginia
Other Countries
  • Belgium
  • China
  • Hong Kong
  • Japan
  • United Kingdom
Number of Attorneys
1,000+ Attorneys

FINRA Observes Second Anniversary of Its Senior Helpline

On April 21, 2017, FINRA issued a press release marking the second anniversary of its Securities Helpline for Seniors…more
 /  Consumer Protection, Finance & Banking, Securities Law

FINRA Revises Its Sanction Guidelines

In April 2017, FINRA announced that it had revised its sanction guidelines for violations of its rules. The new revisions, among other things..…more
 /  Finance & Banking

SEC Approves FINRA’s Rules to Protect Seniors from Financial Exploitation

On March 30, 2017, the SEC approved the adoption of new FINRA Rule 2165 (Financial Exploitation of Specified Adults). Among other things, Rule 2165 permits brokers to place holds on disbursements of funds or securities from the…more
 /  Consumer Protection, Finance & Banking, Securities Law

FINRA’s Engagement Initiative

In our capacity as advisers to financial institutions, we carefully monitor FINRA’s rulemaking and enforcement activities with a view to thinking about how these affect market participants and their activities. FINRA’s March…more
 /  Business Organizations, Finance & Banking

SEC Adopts T+2 Settlement Cycle for Securities Transactions

On March 22, 2017, as previously anticipated by the market, the SEC adopted an amendment to Rule 15c6-1 under the Securities Exchange Act of 1934 to shorten the standard settlement cycle for most broker-dealer transactions from…more
 /  Business Organizations, Finance & Banking, Securities Law

SEC Staff Discusses Investment Company Reporting Modernization and Asset Management Industry Trends at SEC Speaks in 2017 Conference

On February 24, 2017, the U.S. Securities and Exchange Commission’s Division of Investment Management (the “Staff”) participated in a panel at the Practising Law Institute’s SEC Speaks in 2017 conference. As part of the…more
 /  Business Organizations, Securities Law

SEC Staff Discusses Current Initiatives Related to Investment Advisers at SEC Speaks in 2017 Conference

On February 24, 2017, the U.S. Securities and Exchange Commission’s Division of Investment Management (the “Staff”) participated in a panel at the Practising Law Institute’s SEC Speaks in 2017 conference. As part of the…more
 /  Business Organizations, Finance & Banking, Securities Law

SEC Grants Limited Relief from the Custody Rule for Advisers Relying on Clients’ Standing Letters of Instruction

In a letter to the Investment Adviser Association (IAA), the Staff of the Division of Investment Management said that investment advisers acting pursuant to a standing letter of instruction or other similar asset transfer…more
 /  Business Organizations, Finance & Banking, Securities Law

One Step Forward, Two Steps Back?

Market participants who are not enamored by the current state of federal securities regulation may have been heartened by the new administration’s January 30, 2017 “two for one” order. The order contemplated that, for each new…more
 /  Business Organizations, Elections & Politics, Finance & Banking, Securities Law

OCIE Identifies Top Five Adviser Compliance Issues

In a new Risk Alert, OCIE’s National Exam Program provided investment advisers with insight into the five compliance topics most frequently identified in its exam deficiency letters. Registered investment advisers should review…more
 /  Business Organizations, Finance & Banking, Securities Law

President Trump Directs DOL to Review the Fiduciary Rule and Consider Modifications or Revocation

On February 3, 2017, President Trump directed the Department of Labor (“DOL”) to review the fiduciary rule adopted in April 2016 (the “Fiduciary Duty Rule”) and consider whether the Fiduciary Duty Rule should be modified or…more
 /  Administrative Law, Elections & Politics, Finance & Banking, Labor & Employment Law

Trump Signs Executive Orders on DOL Fiduciary Rule and Dodd-Frank

On February 3, 2017, President Donald Trump signed an executive order to delay the implementation of the Department of Labor’s Fiduciary Rule. President Trump also signed an executive order to roll back certain parts of the…more
 /  Elections & Politics, Finance & Banking, Labor & Employment Law

Enforcement Focus on Advisers’ “Cherry-Picking” Continues

The SEC banned the managing member and chief compliance officer of a registered investment adviser from the securities industry for illegal “cherry-picking” investments among the adviser’s managed accounts. The SEC staff…more
 /  Criminal Law, Securities Law

SEC Approves NSCC and NYSE T+2 Rule Proposals

On January 4, 2017, the SEC approved the National Securities Clearing Corporation’s (“NSCC”) proposed rule change to conform to the SEC’s proposed Rule 15c6–1(a) amendment and accommodate a second business day after the trade…more
 /  Finance & Banking, Securities Law

Uncertain Seas: European Financial and Regulatory Developments into 2017

Charting New and Dangerous Waters - Lloyd George and Epictetus may be long gone but their words have much resonance with the events of 2016. The political fallout from the UK’s vote to leave the European Union (“EU”) was…more
 /  Commercial Law & Contracts, Finance & Banking, Insurance, International Law & Trade, Securities Law
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