FINRA’s Office of Financial Innovation published a report on “The Metaverse and the Implications for the Securities Industry” to raise awareness among its member firms and the broader securities industry and seek industry...more
10/28/2024
/ Artificial Intelligence ,
Broker-Dealer ,
Cybersecurity ,
Data Privacy ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Services Industry ,
Fraud ,
Information Reports ,
Market Participants ,
Metaverse ,
NASAA ,
Non-Fungible Tokens (NFTs) ,
Popular ,
Securities ,
Securities and Exchange Commission (SEC) ,
State Securities Regulators ,
Virtual Reality
The SEC is continuing its campaign to overhaul cybersecurity, cyber incident reporting, and privacy controls and requirements for financial services industry registrants, their service providers, and corporate America...more
Previously registered representatives who missed the prior deadline now have until December 31, 2023 to enroll.
Registered brokerage representatives historically had two years from their Form U5 filing date to...more
On January 10, 2023, FINRA published the 2023 Report on FINRA’s Examination and Risk Monitoring Program. The Report serves as a resource for firms to use to bolster their compliance programs and provides a roadmap of FINRA’s...more
Interest in engaging in a crypto business seems to be at an all-time high, including doing so in or through regulated and compliant businesses in traditional financial services firms. Brokers-dealers sit atop that list....more
Cybersecurity and technology governance remain a top area of focus for the SEC and FINRA, as the regulators continue to concentrate on improving the overall cybersecurity posture and resiliency of the financial sector. FINRA...more
6/15/2022
/ Cyber Incident Reporting ,
Cybersecurity ,
Enforcement Priorities ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Services Industry ,
Governance Standards ,
Policies and Procedures ,
Popular ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC)
This is the first in a series of alerts in which we will explore the practical reality of the opportunities the metaverse will present for the financial services industry and challenges firms will need to overcome as they...more
The U.S. Securities and Exchange Commission is implementing a campaign to overhaul the agency’s expectations around cybersecurity and cyber incident reporting for the financial services industry and corporate America...more
2/15/2022
/ Broker-Dealer ,
Cyber Incident Reporting ,
Cybersecurity ,
Data Collection ,
Disclosure Requirements ,
Financial Services Industry ,
Investment Adviser ,
Investment Companies ,
Popular ,
Proposed Rules ,
Publicly-Traded Companies ,
Regulation S-P ,
Regulation SCI ,
Securities and Exchange Commission (SEC) ,
Third-Party Service Provider
On February 9, 2022, FINRA published its 2022 Report on its Examination and Risk Monitoring Program, identifying key areas of focus for broker-dealer exams this year. While each exam is unique to the firm under FINRA’s...more
This alert provides a brief discussion of the practice of using unregistered “finders” in the context of a private securities offering. We provide background on the process, discuss various risks and considerations, and...more
8/4/2020
/ Broker-Dealer ,
Capital Raising ,
Enforcement Actions ,
Financial Services Industry ,
Finders ,
Investment Management ,
Investors ,
Private Investment Funds ,
Private Offerings ,
Securities and Exchange Commission (SEC) ,
Unregistered Brokers ,
Unregistered Securities
On February 7, 2018, the New York State Department of Financial Services (NY DFS) issued guidance to all virtual currency businesses that maintain a “BitLicense” or that are chartered as a limited purpose trust company under...more