News & Analysis as of

Broker-Dealer Business Continuity Plans

Goodwin

FINRA Urges Firms to Focus on Succession Planning

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FINRA recently published Regulatory Notice 22-23, providing guidance regarding firm and representative succession planning, including relevant FINRA rules and administrative processes and questions firms can consider when...more

BCLP

Supervision of Vendors When Outsourcing - The Buck Stops with FINRA Member Firms

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Key Takeaways: ..On August 13, 2021, FINRA issued Regulatory Notice 21-29 (“RN 21-29”) to remind member firms that they must establish and maintain an adequate supervisory system, including written supervisory procedures...more

UB Greensfelder LLP

FINRA Got It Right When It Comes To BCPs . . . But Not So Much On SARs

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FINRA is often accused (mostly rightfully, and certainly by me) of being a horse-is-already-out-of-the-barn sort of regulator, jumping on an issue only after the problem has already arisen and made it to the front page of the...more

Foley Hoag LLP

SEC Office of Compliance Inspections and Examinations Issues COVID-19 Risk Alert to Broker-Dealers and Investment Advisers

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On August 12, 2020, the SEC Office of Compliance Inspections and Examinations (OCIE) published a Risk Alert that identifies potential issues related to the COVID-19 pandemic for SEC-registered investment advisers and...more

Jones Day

SEC's OCIE Issues Risk Alert on COVID-19 Risks and Considerations for Broker-Dealers and Investment Advisers

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The Situation: Throughout the COVID-19 pandemic, the U.S. Securities and Exchange Commission's Office of Compliance Inspections and Examinations ("OCIE") has continued to operate via off-site examinations and remote working...more

Faegre Drinker Biddle & Reath LLP

What’s New, and Comings & Goings at the SEC

What’s New, and Comings & Goings at the SEC - What’s New: The SEC’s Office of Compliance Inspections and Examinations (“OCIE”) recently issued a Risk Alert titled “Select COVID-19 Compliance Risks and Considerations for...more

Dechert LLP

OCIE Publishes Risk Alert on COVID-19 Compliance Risks and Considerations for Broker-Dealers and Investment Advisers

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The staff of the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (staff) issued a National Exam Program Risk Alert on August 12, 2020 (Risk Alert). The Risk Alert is intended to share...more

Akin Gump Strauss Hauer & Feld LLP

SEC Risk Alert Highlights on COVID-19-Related Compliance Risks and Considerations for Investment Advisers and Broker-Dealers

- The OCIE of the SEC highlights that responses to COVID-19 present important regulatory and compliance issues for SEC registrants, including “heightened risks of misconduct” tied to recent market volatility. - The Risk...more

Perkins Coie

OCIE Raises Concerns Regarding Physical and Cyber Security, Supervision, and Business Continuity

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The Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission (the SEC) issued a risk alert (the risk alert) on August 12, 2020, highlighting COVID-19 pandemic-related risks and...more

Troutman Pepper

SEC’s Office of Compliance Inspections and Examinations Issues COVID-19 Risk Alert

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Why It Matters - Broker-dealers and investment advisers should take heed of OCIE’s guidance and assess their compliance policies and procedures accordingly. Compliance should consider, in consultation with their counsel,...more

King & Spalding

SEC Examiners Warn of COVID-Related Compliance Risks for Broker-Dealers and Investment Advisers

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The Securities and Exchange Commission (“SEC”) last week published its observations from the first five months operating the SEC’s national examination program during the ongoing COVID-19 pandemic. This is the latest...more

Blank Rome LLP

FINRA Releases Guidance to Aid Broker-Dealers in Combating Enhanced COVID-19 Cybersecurity Risks

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Like other industries, broker-dealers have transitioned their workforces to remote working/teleworking arrangements as the coronavirus (“COVID-19”) public health emergency has persisted. At the same time, broker-dealers also...more

Bracewell LLP

Regulating Broker-Dealers at a (Social) Distance: FINRA Provides COVID-19 Business Continuity Planning Guidance and Regulatory...

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In just a short period of time, the COVID-19 pandemic has triggered a revolution in how we live our lives and do our jobs. These changes have extended to the regulation of the financial industry. While FINRA emphasizes that...more

Ballard Spahr LLP

FINRA Issues Notice Providing Guidance and Regulatory Relief Related to Pandemic-Related Business Continuity Planning

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On March 9, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 20-08 to provide guidance and regulatory relief related to pandemic-related business continuity planning....more

A&O Shearman

Planning in a Time of Pandemic: Considerations for Regulated Financial Institutions in the US, EU and UK

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The economic and operational stresses caused by the Novel Coronavirus (COVID-19) are highlighting the need for regulated financial institutions to formulate responses to address significant business disruptions (SBDs) and to...more

Latham & Watkins LLP

FINRA Issues Guidance and Relief in Relation to COVID-19

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As COVID-19 disruptions unfold, FINRA has granted temporary relief regarding alternate working arrangements for broker-dealer employees. On March 9, 2020, the Financial Industry Regulatory Authority, Inc. (FINRA) issued...more

Mayer Brown Free Writings + Perspectives

COVID-19: FINRA Addresses U.S. Broker-Dealer Preparedness and Regulatory Relief in Regulatory Notice 20-08

On March 9, 2020, the Financial Industry Regulatory Authority (FINRA) published Regulatory Notice 20-08 (Notice) with respect to business continuity planning in connection with the recent coronavirus (COVID-19) outbreak. ...more

A&O Shearman

Significant Business Disruptions: Considerations for Broker-Dealers

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In light of the threats posed by natural disasters, pandemics and civil disorder, among other events, businesses of all types must formulate responses to address significant business disruptions (“SBDs”) and the safety of...more

Katten Muchin Rosenman LLP

Bridging The Week - January 2020

It was not part of the recently concluded Golden Globes ceremony, but last week both the Securities and Exchange Commission’s Office of Compliance Inspections and Examinations and the Financial Industry Regulatory Authority...more

Dechert LLP

Lessons from FINRA’s 2019 Report on Examination Findings and Observations

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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

Orrick, Herrington & Sutcliffe LLP

More Of An SRO - FINRA Unveils Its Priorities For 2018

On January 8 the Financial Industry Regulatory Authority (FINRA) published its Annual Regulatory and Examination Priorities Letter, which highlights key areas of focus for FINRA in the coming year. ...more

Vedder Price

Investment Services Regulatory Update - November 2017

Vedder Price on

New Rules, Proposed Rules, Guidance and Alerts - SEC STAFF GUIDANCE AND ALERTS - SEC Staff Issues No-Action Letters to Facilitate Cross-Border Compliance with the Research “Unbundling” Provisions of the European...more

Snell & Wilmer

New Cybersecurity Rules for Colorado Investment Advisers and Broker-Dealers

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Colorado has adopted new rules that add cybersecurity requirements for certain entities with Colorado securities licenses. The rules are from the regulatory agency the Division of Securities. It licenses securities...more

Proskauer Rose LLP

2016 Proskauer Annual Review and Outlook for Hedge Funds, Private Equity Funds and Other Private Funds

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This special report provides a summary of some of the significant changes and developments that occurred in the past year in the private equity and hedge funds space, as well as certain recommended practices that investment...more

Ballard Spahr LLP

Investment Management Update

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The Securities and Exchange Commission Adopts Amendments to Form ADV and Investment Adviser Act Rules - The Securities and Exchange Commission (SEC) adopted amendments to Form ADV and Investment Advisers Act of 1940...more

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