News & Analysis as of September 18, 2024

Securities Exchange Act › Investor Protection

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The Securities Exchance Act is a United States federal statute enacted in 1934 to govern the secondary securities trading market. In addition, the Securities Exchange Act established the Securities and Exchange... more +

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SEC Proposes Daily Reserve Account Calculation for Certain Broker-Dealers

Morgan Lewis on 7/13/2023

The US Securities and Exchange Commission proposed changes to the Customer Protection Rule, which would impact about 63 carrying broker-dealers and potentially require more frequent deposits into customer and PAB reserve bank...more

FINRA Reminds Firms of Trusted Contact Person Requirement, Benefits, and Related Effective Practices

Goodwin on 1/5/2023

FINRA remains very focused on preventing financial exploitation of seniors and other investors. Firms can expect to see senior investor protection as a key area of focus in the forthcoming 2023 Report on FINRA’s Examination...more

SEC Updates Rule 17H Risk Assessment Thresholds for Certain Broker Dealers

Dechert LLP on 7/24/2020

The Securities and Exchange Commission issued an order (Order)1 on June 29, 2020, under Section 17(h)(4) of the Securities Exchange Act of 1934, raising the thresholds for compliance with the recordkeeping and reporting...more

SEC Open Meeting Now to Address Resource Extraction Payments and Accredited Investor Definition

Mayer Brown Free Writings + Perspectives on 12/16/2019

The upcoming Securities and Exchange Commission open meeting for December 18, 2019 will now address additional rulemaking....more

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

Dechert LLP on 8/12/2019

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

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

Katten Muchin Rosenman LLP on 7/25/2019

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

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

White & Case LLP on 7/22/2019

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

The SEC and Digital Assets—A Busy Year End

Perkins Coie on 12/21/2018

The end of the year has been a very busy time for the SEC in the digital asset space. From speeches to the issuance of joint statements to enforcement actions, there are many things to highlight, discuss and consider. This...more

SEC Focuses on Initial Coin Offerings: Tokens May Be Securities Under Federal Securities Laws

Dechert LLP on 9/13/2017

The U.S. Securities and Exchange Commission (SEC) has recently taken several actions to make clear that it is focused on and actively monitoring the rapidly growing market for so-called “token sales” or “initial coin...more

Following the Wisdom of the Crowd? A Look at the SEC’s Final Crowdfunding Rules

Morrison & Foerster LLP on 11/2/2015

In this alert, we provide a detailed overview of the final rules, Regulation Crowdfunding, which will be applicable to crowdfunding offerings conducted in reliance on Section 4(a)(6) of the Securities Act of 1933 as amended...more

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Securities Exchange Act › Investor Protection

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