Although the loan industry has long looked at loans as being obligations that arise in a commercial lending relationship, which are therefore not securities under Federal and state securities laws, the law supporting this...more
6/2/2020
/ Blue Sky Laws ,
Collateralized Loan Obligations ,
Coronavirus/COVID-19 ,
Debt Securities ,
Fiduciary Duty ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Lenders ,
Loans ,
Reves Test ,
Secured Notes ,
Securities ,
Securities Act of 1933 ,
Securities Exchange Act ,
Syndicated Loans
The Financial Industry Regulatory Authority published its 2020 Risk Monitoring and Examination Priorities Letter (Priorities Letter) on January 9, 2020. The Priorities Letter identifies four core areas on which FINRA will...more
2/25/2020
/ Broker-Dealer ,
Cash Transactions ,
Examination Priorities ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Markets ,
Form CRS ,
Fund Managers ,
Initial Public Offering (IPO) ,
Integrity Policies ,
Investment Adviser ,
Regulation Best Interest ,
Retail Investors ,
Sales ,
Securities and Exchange Commission (SEC) ,
Supervision
The Financial Industry Regulatory Authority published its 2019 Report on Examination Findings and Observations (2019 Report) on October 16, 2019. This marks the third annual report of FINRA findings, but in a departure from...more
11/18/2019
/ Annual Reports ,
Anti-Money Laundering ,
Bank Secrecy Act ,
Best Execution ,
Broker-Dealer ,
Business Continuity Plans ,
Compliance ,
Cybersecurity ,
Digital Communications ,
Financial Industry Regulatory Authority (FINRA) ,
Fixed Income Investments ,
Integrity Policies ,
Investment Adviser ,
Know Your Customers ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Short Sales ,
Supervision ,
Suspicious Activity Reports (SARs) ,
UGMA ,
UTMA
The Financial Industry Regulatory Authority (FINRA) has published frequently asked questions (FAQs) for complying with new FINRA Rule 2165 (Financial Exploitation of Specified Adults) and amendments to FINRA Rule 4512...more
2/1/2018
/ Broker-Dealer ,
Disbursement Issues ,
Disclosure Requirements ,
Elder Issues ,
Exploitation ,
Financial Industry Regulatory Authority (FINRA) ,
Investment Adviser ,
Investor Protection ,
Investors ,
New Rules ,
Securities and Exchange Commission (SEC) ,
Temporary Hold ,
Trusted Contact Person
The U.S. federal securities laws and the rules of U.S. self regulatory organizations (such as the Financial Industry Regulatory Authority) impose certain reporting and compliance obligations on investment advisers and funds....more
1/24/2018
/ Beneficial Owner ,
Benefit Plan Sponsors ,
CFTC ,
Commodities ,
Commodity Trading Advisors (CTAs) ,
Compliance ,
CPO ,
Cross-Border Transactions ,
Department of Labor (DOL) ,
Derivatives ,
Employee Retirement Income Security Act (ERISA) ,
Equity Securities ,
Filing Deadlines ,
Filing Requirements ,
Financial Industry Regulatory Authority (FINRA) ,
Foreign Investment ,
Form 13F ,
Form ADV ,
Form D Filing ,
Form PF ,
Investment Adviser ,
Investment Funds ,
Investors ,
NFA ,
Offerings ,
Private Funds ,
Private Placements ,
Registered Investment Advisors ,
Reporting Requirements ,
Schedule 13D ,
Securities and Exchange Commission (SEC) ,
Securities Traders ,
Securities Violations ,
Self-Certification ,
Verification Requirements ,
Virtual Currency
The Financial Industry Regulatory Authority (FINRA), on March 21, 2017, published a Special Notice soliciting comments on various existing FINRA engagement programs (Notice). This request for comment is one component of...more
The U.S. Securities and Exchange Commission (SEC) on February 13, 2017, issued a cease and desist order (Order) and imposed a $100,000 civil penalty against broker-dealer Sidoti & Company, LLC (Broker-Dealer), to settle...more
The U.S. federal securities laws and the rules of U.S. self-regulatory organizations (such as the Financial Industry Regulatory Authority) impose certain reporting and compliance obligations on investment advisers and funds....more
2/21/2017
/ Accredited Investors ,
Benefit Plan Sponsors ,
CFTC ,
Compliance ,
Cross-Border Transactions ,
Employee Retirement Income Security Act (ERISA) ,
Equity Securities ,
Filing Requirements ,
Financial Industry Regulatory Authority (FINRA) ,
Form ADV ,
Form PF ,
Fund Managers ,
Hedge Funds ,
Investment Adviser ,
NFA ,
Private Funds ,
Private Placements ,
Registered Investment Advisors ,
Reporting Requirements ,
Securities and Exchange Commission (SEC)
The U.S. Securities and Exchange Commission (SEC) on June 1, 2016 announced a settled enforcement action against a private equity fund manager (Adviser) for acting as a broker-dealer without registering. The case is...more
6/15/2016
/ Acquisitions ,
Broker-Dealer ,
Disgorgement ,
Enforcement Actions ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Mergers ,
Portfolio Companies ,
Private Equity Funds ,
Sanctions ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Unregistered Brokers
The New York City Council recently passed two amendments to the New York City Human Rights Law that are likely to substantially affect the manner in which firms in New York City may evaluate the qualifications and background...more
10/5/2015
/ Background Checks ,
Broker-Dealer ,
Brokers ,
Credit Checks ,
Criminal Background Checks ,
Fair Chance Act ,
Financial Industry Regulatory Authority (FINRA) ,
Human Rights ,
Investment Adviser ,
Registered Investment Advisors ,
SCDEA ,
Securities and Exchange Commission (SEC) ,
SRO
A recent public statement by a member of the senior staff (“Staff”) of the Securities and Exchange Commission (“SEC”) and recent SEC enforcement actions have reminded private equity and other private fund managers (such as...more
4/22/2013
/ Broker-Dealer ,
Finders ,
Fund Managers ,
Investment Adviser ,
Marketing ,
Private Funds ,
Ranieri Partners ,
Registration ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Transaction-Based Compensation