Videocast: Asset management regulation in 2020 videocast series – The annuity regulatory landscape
On February 16, the CFPB issued revised rules updating its internal supervisory appeals process for institutions seeking to appeal a compliance rating or an adverse material finding. The updated rules open up new avenues for...more
Does anyone else feel like Bill Murray in Groundhog Day, where his character keeps experiencing the same day over and over and over again? It seems like the Federal Trade Commission just amended the Safeguards Rule yesterday,...more
Join Michael J. Charlillo as he discusses FINRA's latest expungement process enhancements. He will explore process changes implemented when requesting and obtaining expungement of customer dispute information. Michael will...more
On October 27, 2023, the Federal Trade FTC (FTC) approved amendments to its version of the Standards for Safeguarding Customer Information Rule (the Safeguards Rule) to require non-banking financial institutions regulated by...more
Key Point: The Federal Trade Commission (FTC) has amended the Safeguards Rule to require non-banking financial institutions to inform the FTC within 30 days of discovering any unauthorized acquisition of unencrypted customer...more
On October 27, 2023, the Federal Trade Commission (FTC) further tightened requirements to safeguard customers’ financial information in the hands of financial institutions, with their release of a new amendment (Amendment) to...more
The United States Small Business Administration (“SBA”) oversees two loan programs that are intended to benefit small business owners and promote employment. The programs, known as the 7(a) Loan Program and Section 504 Loan...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 11, 2023, the staff of the SEC’s Division of Investment Management (the “Division Staff”) updated its list of frequently asked questions (“FAQs”) related to amended Rule 206(4)-1 (the “Marketing Rule”) under the...more
Cyber fraud costs the financial services industry billions in losses each year and has been on the rise. Regulation has followed, creating risks of a different kind. This timely webinar will walk through some of the latest...more
On April 28, the FTC proposed updating the Telemarketing Sales Rule (TSR) to extend protections against telemarketing tricks and traps to small businesses and to strengthen defenses against other telemarketing schemes that...more
In This Issue. The Financial Crimes Enforcement Network (FinCEN) announced (1) a notice of proposed rulemaking for beneficial ownership information reporting requirements and (2) a regulatory process for new real estate...more
In This Issue. The Financial Industry Regulatory Authority (FINRA) adopted new rules to address firms with a significant history of misconduct; the Securities and Exchange Commission (SEC) issued an order approving rule...more
On September 1, the CFPB issued a Notice of Proposed Rulemaking (NPRM) to implement Section 1071 of the Dodd-Frank Act, which amended the Equal Credit Opportunity Act (ECOA) to require financial institutions to collect and...more
The U.S. Securities and Exchange Commission (“SEC”) has adopted amendments to several of the financial disclosure requirements in Regulation S-K. Continuing the SEC’s efforts to modernize and streamline its disclosure...more
On November 20, 2020, the Staff of the SEC’s Division of Corporate Finance, Division of Investment Management, and Division of Trading and Markets issued a statement that it would not recommend enforcement action against...more
In April 2020, Wilson Sonsini, together with two other leading Silicon Valley-based law firms, submitted a formal rulemaking petition to the U.S. Securities and Exchange Commission (SEC) asking the SEC to amend Rules 11 and...more
In the News. The Office of the Comptroller of the Currency (OCC) finalized its “true lender” rule, which establishes that a national bank or federal savings association (bank) is the “true lender” of a loan if, as of the...more
On 28 September 2020, the Central Bank of Ireland (the “Central Bank”) sent a letter to the Irish funds industry outlining the timeframes for receipt of: (i) new fund applications; and (ii) post-authorisation amendments that...more
In the News. The Securities and Exchange Commission (SEC) adopted final rules to update and expand the statistical disclosures that bank and savings and loan registrants must provide to investors for the first time in 30...more
In This Issue. The Office of the Comptroller of the Currency (OCC) released an advanced notice of proposed rulemaking seeking comments on several issues related to digital technology and innovation, as well as proposed...more
In This Issue. The Office of the Comptroller of the Currency (OCC) finalized a rule to strengthen and modernize regulations under the Community Reinvestment Act; the Securities and Exchange Commission (SEC) voted to adopt...more
In This Issue. Federal banking agencies finalized an Interagency Policy Statement on Allowance for Credit Losses, which is intended to promote consistency in the interpretation and application of the current expected credit...more
The NYSE proposed in November changes to its listing standards to allow “primary” share offerings through a direct listing. To date, direct listings have been in the form of stockholder share resales (a “secondary offering”)...more
On December 19, 2019, the Financial Industry Regulatory Authority, Inc. (FINRA) adopted amendments to Rules 5130 and 5131 (the “New Issues Rules”) to permit allocations of initial public offering (IPO) profits to certain...more