News & Analysis as of

Broker-Dealer Digital Securities

A&O Shearman

UK Legal Statement on the Issuance and Transfer of Digital Securities under English Law

A&O Shearman on

Following its consultation in 2022, on February 9, 2023 the U.K. Jurisdiction Taskforce published a Legal Statement on the issuance and transfer of digital securities under English private law....more

Goodwin

FINRA Sheds Light on Path to Digital Asset Security Broker Registration

Goodwin on

Interest in engaging in a crypto business seems to be at an all-time high, including doing so in or through regulated and compliant businesses in traditional financial services firms. Brokers-dealers sit atop that list....more

Goodwin

SEC Releases 2021 Examination Priorities

Goodwin on

In this Issue. The U.S. Securities and Exchange Commission (SEC) Division of Examinations released its 2021 Examination Priorities and issued a risk alert noting that “Digital Asset Securities” entail characteristics and...more

Goodwin

SEC To Permit Custody Of Digital Asset Securities By “Special Purpose” Brokers

Goodwin on

Christmas came early for many in the digital asset community by way of a statement from the U.S. Securities and Exchange Commission (“SEC” or “Commission”) on December 23, 2020 that grants relief in the area of broker...more

Skadden, Arps, Slate, Meagher & Flom LLP

Investment Management Update - September 2019

In this issue, we summarize regulatory, litigation and industry developments from May to September 2019 impacting the investment management sector, including SEC action on standards of conduct for broker-dealers and...more

Dechert LLP

SEC and FINRA Staffs Jointly Address Broker-Dealer Custody of Digital Asset Securities

Dechert LLP on

The Staffs of the Securities and Exchange Commission’s Division of Trading and Markets and the Financial Industry Regulatory Authority’s Office of General Counsel (jointly, Staffs) issued a Joint Statement on July 8, 2019...more

Jones Day

SEC/FINRA Issue Joint Guidance on Broker-Dealer Custody of Digital Assets

Jones Day on

The Situation: In a recently released joint statement ("Statement"), the Staffs of the U.S. Securities and Exchange Commission's ("SEC") Division of Trading and Markets, and the Financial Industry Regulatory Authority...more

Katten Muchin Rosenman LLP

SEC and FINRA Issue Joint Staff Statement on Broker-Dealer Custody of Digital Asset Securities

On July 8, the Division of Trading and Markets for the Securities and Exchange Commission (SEC) and the Office of General Counsel for the Financial Industry Regulatory Authority (FINRA) issued a joint statement (the...more

White & Case LLP

Key Takeaways from the SEC and FINRA Joint Statement on Broker-Dealer Custody of Digital Asset Securities

White & Case LLP on

As part of the continuing dialogue with market participants working toward developing methodologies for establishing possession or control by broker-dealers over their customers' digital asset securities, on July 8, 2019, the...more

Sheppard Mullin Richter & Hampton LLP

Recent Development in Regulatory Enforcement of Digital Securities

In a flurry of activity and confluence of developments, the SEC, FINRA and a Brooklyn federal judge have commenced actions and made rulings that continue to define the regulatory framework and obligations surrounding the sale...more

Orrick - Finance 20/20

FINRA Reports on Digital Investment Advice

Orrick - Finance 20/20 on

On March 15, the Financial Industry Regulatory Authority (commonly referred to as “FINRA”) issued a Report that emphasizes that offerings of digital investment advice requires sound governance and supervision, including...more

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