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Financial Industry Regulatory Authority (FINRA)

A&O Shearman

CFTC Reaches $48 Million Settlement With Swiss Energy Trader Over Attempted Gasoline Market Manipulation Scheme

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On August 27, 2024, the Commodity Futures Trading Commission issued an order filing and simultaneously settling charges against a Swiss energy trader (the “Company”), for allegedly attempting to manipulate the European...more

Orrick, Herrington & Sutcliffe LLP

District Court dismisses FINRA challenge for lack of subject matter jurisdiction

On September 4, the U.S. District Court for the Eastern District of Pennsylvania dismissed a plaintiff’s attempt to enjoin FINRA from proceeding with a disciplinary hearing against the plaintiff. The plaintiff’s disciplinary...more

BakerHostetler

Weekly Blockchain Blog - September 2024 #2

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According to recent reports, two U.S. multinational financial technology companies have integrated Ethereum Name Service (ENS), a decentralized naming system built on the Ethereum blockchain, into their payment platforms....more

Katten Muchin Rosenman LLP

Financial Markets and Funds Quick Take | Issue 30

Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more

Eversheds Sutherland (US) LLP

Dual registrant regulatory roundup - September 2024

Welcome to the Regulatory Roundup. Each month, Eversheds Sutherland Investment Services attorneys review significant regulatory developments (including notable rulemakings and guidance from securities regulators) from the...more

Frantz Ward LLP

First Attempt to Use the Supreme Court's Jarkesy Decision to Limit the Ability of FINRA to Assess Monetary Sanctions in...

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In our post at the end of June of this year we analyzed the Supreme Court’s decision in SEC v Jarkesy, which held that the right to trial by jury in an Article III Court contained in the Seventh Amendment to the Constitution...more

Paul Hastings LLP

Daily Financial Regulation Update -- Wednesday September 4

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September 3, 2024- Acting Comptroller of the Currency Michael J. Hsu discussed the evolution of bank supervision during a presentation at the Joint European Banking Authority and European Central Bank International...more

Orrick, Herrington & Sutcliffe LLP

Crowdfunding portal member expelled from FINRA Membership

On August 26, FINRA accepted a Letter of Acceptance, Waiver, and Consent (AWC) from a former funding portal member (the respondent) that acted as an intermediary for crowdfunding offerings conducted under Section 4(a)(6) of...more

Orrick, Herrington & Sutcliffe LLP

Broker-Dealer fined for “No Remuneration” indicators in FINRA reports

On August 27, FINRA accepted a broker dealer firm’s Letter of Acceptance, Waiver, and Consent (AWC) regarding alleged trade reporting violations and supervisory failures. According to the AWC, the respondent failed to include...more

Fenwick & West LLP

Securities Law Update - August 2024 #2

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Welcome to the latest edition of Fenwick’s Securities Law Update. This edition contains updates and reminders on: ..The federal court decision that struck down the FTC’s noncompete ban, blocking it from taking effect...more

Mayer Brown Free Writings + Perspectives

FINRA Update on Crypto Asset Activities

On August 14, 2024, FINRA published an update (the “Update”) on its ongoing efforts to engage with its members related to crypto asset activities. The Update describes “crypto assets” as assets that are issued or transferred...more

Orrick, Herrington & Sutcliffe LLP

FINRA fines broker $165K for lack of supervisory controls and market access rule violations

Recently, FINRA accepted a Letter of Acceptance, Waiver, and Consent (AWC) against a broker providing self-directed, online brokerage services to institutional and retail customers. The broker previously received a $595,000...more

Orrick, Herrington & Sutcliffe LLP

FINRA charges member firm with Regulation Best Interest violations

On August 5, FINRA accepted a Letter of Acceptance, Waiver, and Consent (AWC) against a member firm for three alleged violations related to the failure to maintain policies and procedures and supervisory systems in compliance...more

Morrison & Foerster LLP

Top 5 SEC Enforcement Developments for July 2024

Each month, we publish a roundup of the most important SEC enforcement developments for busy in-house lawyers and compliance professionals. This month, we examine: •Judge Paul Engelmayer’s decision on defendants’ motion to...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - August 2024 # 3

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Financial Services industry over the past week...more

Mayer Brown Free Writings + Perspectives

SEC Settles Reg BI Case Against California Broker-Dealer

On July 31, 2024, the Securities and Exchange Commission (“SEC”) announced that it agreed to settle allegations that a California-based broker-dealer sold in excess of $13 million in “L bonds,” a speculative, unrated debt...more

BakerHostetler

Weekly Blockchain Blog - August 2024 #3

BakerHostetler on

Crypto Firms Announce New Products in Payments, Investments, Custody - A major U.S. digital asset management company recently announced the creation and public launch of its MakerDAO Trust, which “offers investors the...more

Katten Muchin Rosenman LLP

SEC Scrutiny into Cash Sweep Programs: What Investment Advisers Need to Know

In recent years, the US Securities and Exchange Commission (SEC) has initiated several probes into how advisory firms manage their cash sweep programs, which are designed to transfer idle cash from investment advisory...more

Jackson Lewis P.C.

What Companies Can Learn from FINRA’s Significant Enforcement Areas in First Half 2024

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For securities industry employers, Financial Industry Regulatory Authority (FINRA) disciplinary actions and fines can be costly. FINRA disciplinary actions in the first half of 2024 show three areas of significant regulatory...more

Katten Muchin Rosenman LLP

FINRA Unveils Key Insights on Member Firms’ Digital Asset Activities

The Financial Industry Regulatory Authority (FINRA) released a comprehensive update on its insights into its member firms’ involvement in crypto asset activities, revealing significant trends and compliance challenges in the...more

Nutter McClennen & Fish LLP

Nutter Securities Enforcement Update: Presidential Election Campaign Donations May Trigger Investment Adviser “Pay to Play” Rule

Overview: Investment advisers that seek to manage public money need to consider the SEC’s “pay to play” rule, which restricts election-related contributions by the firms or their “covered associates” to elected state...more

Morgan Lewis

Securities Enforcement Roundup – July 2024

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In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments and cases from last month. In July 2024: A district court dismissed several of the SEC’s claims against...more

Paul Hastings LLP

Daily Financial Regulation Update -- Monday August 12

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August 9, 2024 - The U.S. Department of the Treasury, Federal Reserve Board, Federal Deposit Insurance Corporation, Office of the Comptroller of the Currency, Securities and Exchange Commission, Commodity Futures Trading...more

Orrick, Herrington & Sutcliffe LLP

FINRA orders broker-dealer to pay over $1.4M for supervision failures

On July 29, FINRA accepted a Letter of Acceptance, Waiver, and Consent (AWC) against a full-service broker-dealer for allegedly failing to establish a supervisory system connected to non-traded real estate investment trusts...more

Skadden, Arps, Slate, Meagher & Flom LLP

2024 Presidential Election Alert: Harris-Walz Campaign Now in General Election Period

On August 6, 2024, Vice President Kamala Harris accepted the Democratic nomination for president and announced Governor Tim Walz as her running mate. This marked the end of the primary election period for the Harris/Walz...more

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