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 Permits Related Performance Information in Institutional Communications for Registered Closed-End Funds

Introduction In an interpretive guidance letter issued to a registered closed-end fund on June 9, 2017, FINRA permitted the use of “related performance information” in communications that are distributed solely to institutional…more
 /  Business Organizations, Communications & Media Law, Finance & Banking, Securities Law

Attention Retail Investors: The SEC Wants to Hear Your Views on the DOL’s Fiduciary Rule

In connection with the Department of Labor’s (“DOL”) fiduciary rule (the “Fiduciary Rule”), key provisions of which became applicable on June 9, 2017, SEC Chair Jay Clayton issued a public statement seeking retail investors’…more
 /  Business Organizations, Finance & Banking, Labor & Employment Law, Securities Law

Implementation of the DOL Fiduciary Rule, a Cheat Sheet

Implementation Date - The first phase of the DOL’s fiduciary rule is scheduled to be implemented on June 9, 2017. Please see full Cheat Sheet below for more information…more
 /  Commercial Law & Contracts, Labor & Employment Law

Implementing the DOL Fiduciary Rule

Background - On June 9, 2017, key provisions of the fiduciary rule adopted by the Department of Labor (DOL) will become applicable for most broker-dealers, as well as many bankers, insurance agents, and others who make…more
 /  Elections & Politics, Finance & Banking, Labor & Employment Law

FINRA T+2 Rules Are Approved

In May 2017, in Regulatory Notice 17-19, FINRA announced the SEC approval of a variety of its proposed rule amendments relating to the upcoming move of the U.S. securities markets to the T+2 settlement cycle…more
 /  Business Organizations, Finance & Banking, Securities Law

FINRA Retrospective Rule Review: Outside Business Activities and Private Securities Transactions

The Financial Industry Regulatory Authority (“FINRA”) is conducting a retrospective review of the rules that govern outside business activities and private securities transactions to assess their effectiveness and efficiency. …more
 /  Business Organizations, Finance & Banking, Securities Law

Presidential Actions on Regulatory Rollback: The Order of the Orders

Since his inauguration on January 20, 2017, President Trump has issued a number of presidential orders and memoranda relating to the reduction of regulation…more
 /  Administrative Law, Elections & Politics, Labor & Employment Law, Taxation

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
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