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Paul Hastings LLP

Federal Court Rules that Missouri Anti-ESG Rules Are Preempted by Federal Law and Are Unconstitutional

Paul Hastings LLP on

On August 14, 2024, the United States District Court for the Western District of Missouri declared unconstitutional two anti-ESG disclosure rules issued by the Missouri Securities Division and applicable to broker-dealers and...more

Pillsbury Winthrop Shaw Pittman LLP

FinCEN’s Proposed Rule to Regulate Investment Advisers: The Questions Industry Should Be Following

Pillsbury Winthrop Shaw Pittman LLP on

FinCEN is focused on customer due diligence, and both the 2024 Investment Adviser Risk Assessment and proposed rule indicate that investment advisers will be expected to assess customer identity, business model, and sources...more

Bressler, Amery & Ross, P.C.

FINRA Dispute Resolution Update: The More Things Change . . .

Bressler, Amery & Ross, P.C. on

As it was for the rest of the world, 2021 was an interesting year for the Financial Industry Regulatory Authority (FINRA). Originally published in American Bar Association’s Securities Litigation section - March 17th,...more

Faegre Drinker Biddle & Reath LLP

Brace for Impact: It’s Going to be (Another) Busy Year for FINRA

Faegre Drinker Biddle & Reath LLP on

F. Scott Fitzgerald said “There are only the pursued, the pursuing, the busy, and the tired.” FINRA may be all of these in 2022, as FINRA CEO Robert Cook announced FINRA’s laundry list of priorities during a SIFMA Q&A last...more

Bressler, Amery & Ross, P.C.

PIABA Lends Support to The Investor Choice Act of 2021

Bressler, Amery & Ross, P.C. on

On April 15, 2021, the Public Investors Advocate Bar Association (“PIABA”) issued a statement supporting a bill called the Investor Choice Act of 2021. If enacted, this bill would amend the Securities Exchange Act of 1934,...more

Vedder Price

Investment Services Regulatory Update - February 2018

Vedder Price on

New Rules, Proposed Rules, Guidance and Alerts – SEC STAFF GUIDANCE AND ALERTS - SEC Staff Issues Guidance on Cryptocurrency-related Holdings - On January 18, 2018, the staff of the SEC’s Division of Investment...more

Proskauer - Corporate Defense and Disputes

The Battle Lines Continue to Form Over the DOL’s Fiduciary Proposal

Proskauer - Corporate Defense and Disputes on

Earlier this month, the Securities Industry and Financial Markets Association (“SIFMA”) released its “Proposed Best Interests of the Customer Standard for Broker-Dealers” – an alternative to the U.S. Department of Labor’s...more

Katten Muchin Rosenman LLP

SEC Investment Management Director Speech Focuses on Alternative Mutual Fund Disclosures

Katten Muchin Rosenman LLP on

On October 29, Norm Champ, the director of the Securities and Exchange Commission’s Division of Investment Management, spoke before the SIFMA Complex Products Forum in New York. In the speech, Mr. Champ discussed SEC staff...more

Morrison & Foerster LLP - JOBS Act

SIFMA Guidance on Investor Verification

Morrison & Foerster LLP - JOBS Act on

SIFMA has issued a Memorandum intended to provide broker-dealers and advisers with guidance regarding procedures for investor verification in connection with offerings made pursuant to Rule 506(c)....more

Morrison & Foerster LLP

Insurgents Denied Access to Early Vote Tallies

Morrison & Foerster LLP on

Broadridge Financial Solutions, Inc. (“Broadridge”), the leading U.S. firm that distributes materials on behalf of banks and brokers and collects shareholder ballots, recently decided to stop sharing real-time polling...more

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