Resources -
What We Do And Don’t Know About The New COVID-19 Vaccination Mandates -
Since President Biden’s announcement on September 9, 2021 of plans for COVID-19 vaccination and/or weekly testing mandates, we have...more
11/1/2021
/ Business Licenses ,
Coronavirus/COVID-19 ,
Employer Mandates ,
Enforcement Actions ,
Federal Acquisition Regulations (FAR) ,
Federal Contractors ,
Gamification ,
Infectious Diseases ,
Regulation Best Interest ,
Safety Standards ,
Securities and Exchange Commission (SEC) ,
Securities Transactions ,
Vaccinations ,
Workplace Safety
The U.S. Securities and Exchange Commission (“SEC”) released its 2021 Examination Priorities on March 3. The Examinations group – elevated last December to Division status (formerly the Office of Compliance Investigations...more
3/5/2021
/ BSA/AML ,
Climate Change ,
Coronavirus/COVID-19 ,
Cybersecurity ,
Environmental Social & Governance (ESG) ,
FinTech ,
Infectious Diseases ,
Investment ,
Libor ,
OCIE ,
Regulation Best Interest ,
Retail Investors ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC)
The Securities Industry and Financial Markets Association (“SIFMA”) recently proposed sweeping modernization of industry self-regulatory rules to reflect firms’ successful pivot to remote operations over the past year. SIFMA...more
SBA Issues New PPP Rules for Owner-Employees and Related Party Rents -
The Small Business Administration ("SBA") recently issued a new interim final rule clarifying whether paycheck protection program ("PPP") loan proceeds...more
9/25/2020
/ Business Closures ,
CARES Act ,
Coronavirus/COVID-19 ,
Cybersecurity ,
Family and Medical Leave Act (FMLA) ,
Financial Industry Regulatory Authority (FINRA) ,
Government Lockdown ,
Loan Forgiveness ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
Rent ,
Return-to-Work Agreements ,
SBA ,
SBA Lending Programs ,
Small Business
At a September 10 press conference, Acting Assistant Attorney General Brian Rabbitt announced that the Department of Justice (“DOJ”) Criminal Division has reached 57 criminal prosecutions for fraud in connection with the...more
9/11/2020
/ CARES Act ,
Coronavirus/COVID-19 ,
Criminal Prosecution ,
Department of Justice (DOJ) ,
Federal Loans ,
Financial Stimulus ,
Fraud ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Small Business ,
Tax Relief
On June 16, the SEC issued a temporary exemptive order, allowing registered municipal advisors to solicit banks, their wholly-owned commercial lenders and credit unions in connection with direct placements by municipal-issuer...more
On May 28, 2020, FINRA issued its Regulatory Notice 20-16 sharing firms’ WFH practices observed to date. They include common practices adopted across most industries, as one would expect....more
On May 8, FINRA filed an expedited request for an immediate rule change that would allow service by email, extensions of time, and video-conference hearings in member-application, disciplinary proceedings and appeals. FINRA...more
The United States Department of Justice (“DOJ”) has filed the first criminal action for fraud in connection with PPP loans. Documents unsealed May 5 in the United States District Court for the District of Rhode Island accuse...more
In a May 4 joint public statement, SEC Chair Clayton and Municipal Securities Office Director Rebecca Olsen urged municipal issuers to make voluntary disclosures specific to issuers, and their various outstanding municipal...more
On April 27, the SEC’s Division of Investment Management updated its COVID-19 FAQs to reflect the Staff’s position that small investment advisers must report the “nature, amounts and effects” of PPP loans if potentially...more
5/4/2020
/ Business Continuity Plans ,
CARES Act ,
Coronavirus/COVID-19 ,
Federal Loans ,
Financial Stimulus ,
Form ADV ,
Paycheck Protection Program (PPP) ,
Relief Measures ,
SBA ,
SBA Lending Programs ,
Securities and Exchange Commission (SEC) ,
Securities Regulation ,
Small Business
The dispute-resolution arm of broker-dealer regulator FINRA has cancelled all in-person arbitration hearings and mediation sessions through July 3, 2020. In-person hearings originally were cancelled through May 1, then...more
On April 9, the Municipal Securities Rulemaking Board (“MSRB”) filed with the SEC a temporary rule change that waived certain late fees and delayed some key compliance deadlines....more
In the past week, the Securities and Exchange Commission has suspended trading in five separate over-the-counter (“OTC”) stocks due to dubious COVID claims or related identity confusion....more
Securities and Exchange Commission Chair Jay Clayton issued an April 2 public statement that the SEC will hold firm on its June 30, 2020 deadline for firms to implement Reg. BI and Form CRS. There had been industry...more
The Municipal Securities Rulemaking Board (“MSRB”) on April 2 published its statistical analysis and list of COVID-19 continuing disclosures filed by municipal issuers during the first quarter of 2020. Of 43,667 disclosures,...more
On March 27, securities regulator FINRA extended its previous postponement of in-person hearings from May 1 through May 31. FINRA also will offer virtual hearing options (including Zoom) by agreement or panel order....more
SEC Enforcement Co-Directors Stephanie Avakian and Steven Peiken issued a March 23 public statement warning that the novel Coronavirus pandemic increases material non-public information and reminding corporate insiders of...more
The U.S. Department of Justice (“DOJ”) has filed its first criminal action against fraudulent activity taking advantage of the novel coronavirus pandemic....more
The New York Stock Exchange announced today that it will activate its Business Continuity Plan, temporarily closing its equities and options (Amer and Arca) trading floors....more
The SEC has gathered its guidance in a single location. Topics covered include:
(a) The SEC’s own Business Continuity Plan (“BCP”) and its implementation;
(b) Increased market monitoring and surveillance...more
3/20/2020
/ Bank Secrecy Act ,
Business Continuity Plans ,
CFTC ,
Coronavirus/COVID-19 ,
Corporate Governance ,
Derivatives ,
Emergency Management Plans ,
Event Cancellation ,
Financial Industry Regulatory Authority (FINRA) ,
Insider Trading ,
Investment ,
MSRB ,
Public Meetings ,
Publicly-Traded Companies ,
Relief Measures ,
Securities and Exchange Commission (SEC)
This week FINRA issued Reg. Notice 20-08 on “Pandemic-Related Business Continuity Planning, Guidance and Regulatory Relief.”...more
3/12/2020
/ Business Continuity Plans ,
China ,
Coronavirus/COVID-19 ,
Crisis Management ,
Cybersecurity ,
Data Protection ,
Emergency Management Plans ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Financial Services Industry ,
Flexible Work Arrangements ,
Infectious Diseases ,
Public Health ,
Relief Measures ,
Telecommuting