On October 2, 2024, the Securities and Exchange Commission (“SEC”) announced it had settled enforcement proceedings against Thrivent Investment Management, Inc. (“Thrivent”), a SEC dually-registered broker-dealer and...more
Securities regulators have long been concerned with the potential regulatory risks associated with geographically dispersed broker-dealer offices, citing the observation that the distance of these offices from compliance and...more
The Securities and Exchange Commission (“SEC”) and Commodity Futures Trading Commission (“CFTC”) (collectively, the “Agencies”) jointly proposed a rule (the “Proposed Rule”) that would impact existing confidential reporting...more
A Bloomberg article last week suggests potentially more bad news is on the way for Coinbase Global Inc. (“Coinbase”). Coinbase is reportedly facing an investigation by the U.S. Securities and Exchange Commission (“SEC”) into...more
8/11/2022
/ CFTC ,
Coinbase ,
Crypto Exchanges ,
Cryptoassets ,
Cryptocurrency ,
Department of Justice (DOJ) ,
Digital Securities ,
Enforcement Actions ,
Illegal Tipping ,
Insider Trading ,
Investigations ,
Popular ,
Securities and Exchange Commission (SEC)
On June 8, 2022, the New York State Department of Financial Services (“NYDFS”) released industry guidance applicable to U.S. dollar-backed stablecoins issued by NYDFS-regulated entities (the “Guidance”)...more
Late last month the Securities and Exchange Commission (“SEC”) charged JP Morgan, UBS and Trade Station with violations of Regulation S-ID based on a range of inadequacies in their identity theft red flag policies and...more
8/9/2022
/ Anti-Fraud Provisions ,
Business Development Companies ,
Cybersecurity ,
Data Protection ,
Disclosure Requirements ,
Investment Adviser ,
Investor Protection ,
Policies and Procedures ,
Popular ,
Proposed Rules ,
Registered Investment Companies (RICs) ,
Regulatory Agenda ,
Risk Management ,
Securities and Exchange Commission (SEC)
In response to ever increasing reports of forgery and falsification of records in the digital signature space, FINRA issued Regulatory Notice 22-18. This Notice reminds FINRA members of relevant regulatory obligations, while...more
On March 17, 2022, FINRA issued Regulatory Notice 22-10 (“Notice”), which reminds FINRA member firms and their associated persons of the scope of supervisory liability for Chief Compliance Officers (“CCO”). The Notice...more
On March 30, 2022, the U.S. Securities and Exchange Commission’s (“SEC”) Division of Examinations released its exam priorities for fiscal year 2022 (the “2022 Priorities”). As in years past, these exam priorities naturally...more
4/7/2022
/ Compliance ,
Cryptoassets ,
Data Security ,
Emerging Technologies ,
Enforcement Actions ,
Environmental Social & Governance (ESG) ,
Fiduciary Duty ,
Financial Institutions ,
Form CRS ,
Private Funds ,
Regulation BI ,
Risk Alert ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
Security Risk Assessments
On March 21, 2022, the U.S. Securities and Exchange Commission (“SEC”) announced a proposed rule (the “Proposed Rule”) that will require registrants to make certain climate disclosures in their registration statements and...more
3/30/2022
/ Climate Change ,
Comment Period ,
Compliance ,
Disclosure Requirements ,
Filing Requirements ,
Financial Institutions ,
Form 10-K ,
Greenhouse Gas Emissions ,
Investors ,
Proposed Rules ,
Public Comment ,
Regulation S-K ,
Regulation S-X ,
Securities and Exchange Commission (SEC)
After extensive retrospective review of FINRA Rule 4370, which covers member firm business continuity plan (“BCP”) requirements during times of business disruption (such as the COVID-19 Pandemic), FINRA issued its...more