Risk Management Broker-Dealer

News & Analysis as of

Brokers Beware: Will the SEC Extend New Cyber Guidance to Brokers and Investment Advisers?

Against the backdrop of a steady stream of cyber-attacks and data breaches, Securities and Exchange Commissioner Luis A. Aguilar recently spoke about his hope to expand upcoming SEC cyber security guidance, known as...more

Bridging the Week - July 2015 #2

Alleged Fictitious Sales to Facilitate Improper Money Pass Prompts CFTC Injunctive Action and Asset Freeze: The Commodity Futures Trading Commission filed a lawsuit in a federal court in Illinois against Yumin Li and Kering...more

A Few Takeaways from the OCIE Cybersecurity Examination Sweep Summary

On February 3, 2015, the Securities and Exchange Commission’s (“SEC”) Office of Compliance Inspections and Examinations (“OCIE”) released a Risk Alert (the “2015 Risk Alert”) with summary observations from its recently...more

Hackers Gonna Hack—FINRA’s Report on Cybersecurity Practices Assists Firms in Responding to Threats

On February 3, 2015 the Financial Industry Regulatory Authority (FINRA) released its long-awaited Report on Cybersecurity Practices, a broad overview of the state of play in the cybersecurity arena for broker-dealers....more

FINRA Conducting Cyber-Security Sweep Exam

Reacting in part to recent data-breaches and cyber-attacks on larger retailers, the Financial Industry Regulatory Authority (“FINRA”) is conducting a targeted examination of some 20 broker-dealer member firms’ compliance and...more

SEC National Examination Program Outlines 2014 Priorities

On January 9, the SEC National Examination Program (NEP) published its examination priorities for 2014. The NEP’s market-wide priorities include (i) fraud detection and prevention; (ii) corporate governance and enterprise...more

SEC Adopts Amendments Removing References to Credit Ratings from Exchange Act Rules Relating to Broker-Dealer Financial...

The SEC issued Release No. 34-71194 (the “Adopting Release”) adopting amendments under the Securities Exchange Act of 1934 (the “Exchange Act”) that remove references to credit ratings by ratings agencies (including...more

SEC Amends Financial Responsibility Rules for Broker-Dealers

Amendments impact many aspects of broker-dealers' back-office operations and will require changes to a number of existing practices. On July 30, the Securities and Exchange Commission (SEC) adopted amendments to the...more

Compliance Advice on SEC’s Market Access Rule from Julie Dixon of Titan Regulation [Video]

SEC Rule 15c3-5 (“Market Access Rule”), finalized in November 2010, is the commission’s response to the May 6, 2010 “flash crash” in which the U.S. equity market plunged nearly ten percent in a matter of minutes, then quickly...more

SEC Highlights Compliance and Ethics for Broker-Dealers

On Tuesday the SEC held a National Compliance Outreach Program for Broker-Dealers at an open meeting at its D.C. headquarters. The first panel – titled The Role of Compliance and Ethics – was nominally targeted to...more

SEC Office of Compliance Inspections and Examinations Issues 2013 Exam Priorities

On February 23, 2013, through the National Exam Program (NEP), the staff of the Office of Compliance Inspections and Examinations (OCIE) of the Securities and Exchange Commission (SEC) published the program's examination...more

SEC Announces 2013 Examination Priorities

On February 21, 2013, the National Examination Program in the SEC's Office of Compliance Inspections and Examinations released its examination priorities for 2013 for investors and registrants. The priorities focus on areas...more

OCIE to Target Adviser Payments for Fund Distribution, Funds with “Alternative” Strategies and New Advisers

In an attempt to “increase transparency, strengthen compliance, and inform the public and the financial services industry about key risks,” the SEC’s Office of Compliance Inspections and Examinations (OCIE) published its 2013...more

Extension of Comment Period on SEC Capital and Margin Rules

Introduction - On October 18, 2012, the Securities and Exchange Commission (the “SEC”) issued Release No. 34-68071 containing its proposed rules (the “Proposed Rules”) relating to the capital, margin and segregation...more

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