In a May 12, 2025 Keynote Address before the U.S. Securities and Exchange Commission (“SEC”) Crypto Task Force’s fourth industry roundtable on digital assets, newly-minted Chair Paul Atkins laid out a sweeping vision for...more
5/16/2025
/ Blockchain ,
Broker-Dealer ,
Cryptocurrency ,
Digital Assets ,
Enforcement ,
Investigations ,
Investment Adviser ,
Regulatory Agenda ,
Regulatory Reform ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Stablecoins ,
Technology
Over the last several years, the Securities and Exchange Commission (“SEC”) has been laser-focused on the use of so-called “off-channel communications” in the financial services industry. On the theory that employees’ use of...more
4/22/2024
/ Books & Records ,
Broker-Dealer ,
Electronic Communications ,
Employees ,
Enforcement Actions ,
Financial Services Industry ,
Investigations ,
Investment Adviser ,
Mobile Apps ,
Mobile Devices ,
Private Equity ,
Regulatory Requirements ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Securities Violations
The United States Department of the Treasury has announced that it is working to address what it perceives as money laundering risks associated with investment advisers. Specifically, the agency asserts that absent consistent...more
1/11/2024
/ AML/CFT ,
Anti-Money Laundering ,
Bank Secrecy Act ,
Broker-Dealer ,
BSA/AML ,
Financial Crimes ,
Financial Institutions ,
Investment Adviser ,
Money Laundering ,
Proposed Regulation ,
Proposed Rules ,
Recordkeeping Requirements ,
Reporting Requirements ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Suspicious Activity Reports (SARs)
The United States Department of the Treasury has announced that it is working to address what it perceives as money laundering risks associated with investment advisers. Specifically, the agency asserts that absent consistent...more
Over the last several years, the Securities and Exchange Commission (the “SEC”) and the Commodities Futures Trading Commission (“CFTC”) have been laser-focused on the use of so called “off-channel communications” in the...more
5/26/2023
/ Books & Records ,
Broker-Dealer ,
CFTC ,
Electronic Communications ,
Employees ,
Financial Institutions ,
Instant Messaging Apps ,
Investigations ,
Investment Adviser ,
Mobile Apps ,
Mobile Devices ,
Policies and Procedures ,
Securities and Exchange Commission (SEC) ,
Social Media ,
Swap Dealers
Over the last year, the U.S. Securities and Exchange Commission (“SEC”) has been laser-focused on the use of personal devices by employees of the large Wall Street banks to conduct company business. The SEC’s investigations...more
Earlier this month, the Securities and Exchange Commission (“SEC”) took a break from its recent focus on digital assets and the Best Interest fiduciary standard to publish a Risk Alert encouraging investment advisers and...more
4/30/2019
/ Broker-Dealer ,
Customer Information ,
Cybersecurity ,
Data Privacy ,
Data Protection ,
Data Security ,
Investment Adviser ,
OCIE ,
Opt-Outs ,
Policies and Procedures ,
Privacy Policy ,
Regulation S-P ,
Regulatory Requirements ,
Risk Alert ,
Securities and Exchange Commission (SEC)
The Security and Exchange Commission’s (“SEC”) recent $1 million settlement with Morgan Stanley Smith Barney LLC (“MSSB”) marked a turning point in the agency’s focus on cybersecurity issues, an area that the agency has...more
7/2/2016
/ Broker-Dealer ,
Civil Monetary Penalty ,
Criminal Prosecution ,
Customer Funds Protection ,
Cybersecurity ,
Data Breach ,
Enforcement Actions ,
Investment Adviser ,
Misappropriation ,
Morgan Stanley ,
Personally Identifiable Information ,
Regulation S-P ,
Securities and Exchange Commission (SEC) ,
Settlement