Securities Exchange Act, Investment Advisers Act of 1940

More Than $390 Million in Penalties for Recordkeeping Failures

Stark & Stark on 8/20/2024

The Securities and Exchange Commission (SEC) announced charges against 26 broker-dealers, investment advisers, and dually-registered firms for widespread and longstanding failures to maintain and preserve electronic...more

Top 5 SEC Enforcement Developments for June 2024

Morrison & Foerster LLP on 7/16/2024

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: •The Supreme Court’s Jarkesy decision and its impact on the...more

Top 5 SEC Enforcement Developments for April 2024

Morrison & Foerster LLP on 5/21/2024

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: •The SEC’s first “Shadow Trading” trial; •SCOTUS’s...more

Regulators Impose Extraordinary Fine Amounts in Recent Off-Channel Communications Enforcement Actions

BCLP on 4/24/2024

The Securities and Exchange Commission (“SEC”) and the Financial Industry Regulatory Authority (“FINRA”) have, in two separate recent settled enforcement actions involving off-channel communications (“OCC”), imposed fine...more

SEC Staff Risk Alert Focuses on Preparations for T+1 Settlement

Vedder Price on 4/16/2024

On March 27, 2024, the staff of the SEC’s Division of Examinations issued a risk alert highlighting its intent to focus, during examinations and outreach on market participants’ preparations for the shortening of the standard...more

Nutter Securities Enforcement Update: March 1, 2024

Nutter McClennen & Fish LLP on 4/5/2024

The Nutter Securities Enforcement Update is a periodic update of noteworthy recent securities enforcement activity, settlements, decisions, and charges. We provide brief summaries that highlight recent enforcement action...more

Top 5 SEC Enforcement Developments for February 2024

Morrison & Foerster LLP on 3/26/2024

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: •The SEC’s expanded definition of securities dealers; - •An...more

SEC Cryptocurrency Enforcement Report Summary

Cornerstone Research on 1/31/2024

Cryptocurrency enforcement continues to be a high priority for the U.S. Securities and Exchange Commission (SEC). In 2023, the SEC administration under Chair Gary Gensler brought a total of 46 cryptocurrency-related...more

SEC Division of Examinations Publishes 2024 Examination Priorities

BCLP on 11/14/2023

On October 16, 2023, the Division of Examinations (the “Division”) of the U.S. Securities and Exchange Commission (the “SEC”) published its annual Examination Priorities for 2024 (the “Exam Priorities”). Consistent with the...more

SEC’s Focus on Off-Channel Communications Continues

White & Case LLP on 11/1/2023

On September 29, the US Securities and Exchange Commission ("SEC") brought its latest wave of enforcement actions related to "off-channel communications," charging 10 additional firms with failing to maintain employee...more

Good as Gold? Dual SEC/CFTC Trials Loom for Alleged Precious Metals Coin Fraud

Holland & Knight LLP on 10/27/2023

Digital assets are not the only coins drawing regulatory scrutiny these days. Earlier this year, the U.S. Securities and Exchange Commission (SEC) announced that it filed a complaint against California-based Red Rock Secured...more

RIA Regulatory Review - October 2023

Dorsey & Whitney LLP on 10/16/2023

This RIA Regulatory Review highlights certain key regulatory developments affecting investment advisers. Please contact us with any questions on the topics covered below. The SEC Adopts Significant New Rules for Private...more

SEC Proposes Stringent New Conflict-of-Interest Rules Regarding Broker-Dealers’ and Investment Advisers’ Use of AI

BCLP on 9/1/2023

On July 26, 2023, the majority of the Commissioners of the U.S. Securities and Exchange Commission (the “SEC”) voted to propose new rules under the Securities Exchange Act of 1934 and the Investment Advisers Act of 1940 to...more

Broker-Dealers and Advisers Beware: The SEC’s “PDA” Proposal Could Upend Firms’ Interactions With Customers, Clients and Investors

WilmerHale on 8/18/2023

On July 26, 2023, the Securities and Exchange Commission (SEC or Commission) narrowly approved (3-2) a proposed rulemaking under the Securities Exchange Act of 1934 (Exchange Act) and the Investment Advisers Act of 1940...more

SEC proposes new regulation to address AI conflicts concerns

Hogan Lovells on 8/18/2023

The U.S. Securities and Exchange Commission (the SEC) proposed new rules for broker-dealers and registered investment advisers (RIAs) on Wednesday, July 26, 2023 that are intended to address potential conflicts of interest...more

SEC Charges 11 Firms with Widespread Recordkeeping Failures

Seward & Kissel LLP on 8/17/2023

Who may be interested: Registered Investment Advisers, Broker-Dealers, Registered Investment Companies, Boards of Directors - Quick Take: The SEC recently settled charges against ten broker-dealers and one dually...more

Regulatory Scrutiny of “Off-Channel” Communications Continues: 11 Wall Street Firms Agree to Pay the SEC $289 Million in Civil...

Vedder Price on 8/11/2023

On August 8, 2023, the United States Securities and Exchange Commission (the “SEC” or the “Commission”) announced that 11 Wall Street firms (10 broker-dealer firms and one dually-registered investment adviser) agreed to...more

SEC Proposes Sweeping Rules on Broker-Dealer and Investment Adviser Technology Use

Morgan Lewis on 8/2/2023

The US Securities and Exchange Commission (SEC) proposed on July 26, 2023 new rules designed to address conflicts of interest from the use of predictive data analytics in “investor interactions” by broker-dealers and...more

SEC takes on AI use by broker-dealers and investment advisers - Expansive coverage of types of technology and investor interaction...

Eversheds Sutherland (US) LLP on 7/31/2023

In a Legal Alert issued before the SEC open meeting, we posed five questions that our Investment Services team would be looking out for as part of this meeting. We now have answers to some of these questions....more

Securities Exchange Act › Investment Advisers Act of 1940