Latest Posts › Securities and Exchange Commission (SEC)

Share:

Settlement of Digital Asset Trading Just Got Easier

SEC relief streamlines noncustodial settlement of digital asset trades, but broker-dealer custody is still off-limits. On September 25, 2020, the US Securities and Exchange Commission (SEC) issued a no-action letter (the...more

Banks Can Hold Stablecoin Reserves, OCC States in Crypto-Friendly Letter

The US OCC allows banks, with certain restrictions, to hold assets in reserve for stablecoin issuers. On September 21, 2020, the US Office of the Comptroller of the Currency (OCC) issued Interpretive Letter #1172 (the...more

SEC Issues Alert on Compliance Risks Related to COVID-19

As COVID-19 continues to disrupt routine operations, OCIE reminds broker-dealers and investment advisers of their ongoing obligations. On August 12, 2020, the US Securities and Exchange Commission (SEC) Office of...more

SEC Proposal: Will You Still Be a 13F Filer?

The SEC proposes a welcome and significant increase in the 13F reporting threshold from US$100 million to US$3.5 billion. On July 10, 2020, the US Securities and Exchange Commission (SEC) released a proposed rule amendment...more

SEC Greenlights Investment Fund Delivered in Security Tokens

The milestone fund structure portends a reduced role for broker-dealers, who may be sidelined by innovators unwilling to wait for regulators. On July 6, 2020, asset management firm Arca announced that the US Securities and...more

FINRA Issues Guidance on Retail Communications in Private Placements

The guidance highlights certain issues identified by FINRA regarding member firm communications to retail investors in private placement offerings. On July 1, 2020, the Financial Industry Regulatory Authority (FINRA)...more

SEC Flags Deficiencies in Private Fund Adviser Compliance

While the findings are not new or surprising, they do serve as a reminder of the regulator’s focus on advisers’ fiduciary and supervisory duties. On June 23, 2020, the Securities and Exchange Commission’s (SEC’s) Office of...more

SEC Puts LIBOR Transition Testing in Focus

In anticipation of LIBOR discontinuation, the SEC will begin examining transition progress. Nearly a year after the US Securities and Exchange Commission’s (SEC’s) release of a Staff Statement on LIBOR Transition, the...more

SEC and FINRA Take Action to Address COVID-19 Impacts

In the wake of COVID-19, the SEC and FINRA are taking steps to support markets and market participants. The US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority, Inc. (FINRA) continue...more

Telegram: Court Halts Grams Delivery

SEC’s motion for a preliminary injunction is granted, prohibiting delivery of Telegram tokens to purchasers. On March 24, the Court in the Southern District of New York sided with the SEC and granted an injunction...more

Taking the Scarlet Out of the Letters I-C-O

SEC Commissioner Peirce has proposed a three-year safe harbor for qualifying token projects, but regulatory clarity remains elusive. SEC Commissioner Hester Peirce has been a perennial advocate of innovation in the...more

SEC Approves Amendments to FINRA’s New Issue Rules

The amendments expand certain exemptions and provide additional guidance under Rules 5130 and 5131 with respect to equity IPO allocations. On December 19, 2019, the Financial Industry Regulatory Authority (FINRA) issued...more

The SEC Greenlights a Blockchain Settlement Service for Public Shares

The US agency has used a no-action letter to enable a sandbox-like approach to blockchain-based trade settlements. In what may be the first regulator-approved application of blockchain technology for the settlement of US...more

The SEC Continues Its Enforcement Streak Against Unregistered Token Offerings

As the agency pursues and prevents offerings of tokens it deems unregistered securities, further issues emerge. The recent wave of US Securities and Exchange Commission (SEC) enforcement actions relating to initial coin...more

SEC Extends Relief From MiFID II Research Unbundling Provisions

The extension benefits market participants in the US seeking to comply with EU MiFID II research rules, but significant issues remain. Key Points: ..The no-action relief has been extended for three additional years from...more

Harbor Finds Calmer FINRA Waters Outside the Custody Storm

In line with its previous guidance, FINRA has granted broker-dealer (but not custodian) status to a digital asset platform. In a follow-up to the July 2019 SEC and FINRA joint staff statement (Joint Statement) clarifying...more

SEC’s Crypto Summer Continues

SEC issues cease-and-desist orders for unregistered token presales and anti-touting violations. Not content to let the dog days of summer slip by, the US Securities and Exchange Commission (SEC) recently issued two...more

LIBOR Discontinuation and Transition - What Investment Managers Should Know

The global shift away from LIBOR presents a complex, time-sensitive, multifaceted set of challenges and tasks for the investment management industry. In a statement published on July 12, 2019, the US Securities and...more

Meet Me at the Arcade: SEC Provides No-Action Relief for Ethereum-Based Gaming Token

The SEC issues second no-action letter for a digital token, but will “utility” token offerings reach the next level? Gamers, rejoice! In only its second no-action letter to date for digital tokens, the SEC cleared the way...more

Can Broker-Dealers HODL? SEC and FINRA Say Keep It Noncustodial for Now

The regulators attempt to clarify their position on the possible custody of digital assets by broker-dealers, but questions remain. The SEC and FINRA recently released a joint staff statement (Joint Statement) addressing...more

What Institutional Broker-Dealers Need to Know About Regulation BI

The SEC’s Regulation Best Interest has important implications for institutionally focused broker-dealers and investment bankers. On June 5, 2019, the US Securities and Exchange Commission (SEC) adopted Regulation Best...more

72 Results
 / 
View per page
Page: of 3

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide