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Brokers Securities

Goodwin

Stablecoins Unlikely to Be Subject to the SEC’s Jurisdiction

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The recent decision in Securities and Exchange Commission v. Binance Holdings Limited et al (Binance) has cast further doubt on the Securities and Exchange Commission’s (SEC’s) pursuit of jurisdiction over stablecoins....more

Barnea Jaffa Lande & Co.

New ISA Rules on Foreign Brokers’ Supervision of Marketers

As of February 10, 2024, new rules will apply to foreign entities that want to offer securities brokerage services via their marketers in Israel. The Israel Securities Authority promulgated these rules in December 2023, as...more

Vinson & Elkins LLP

Shorter Schedule 13D and Schedule 13G Filing Deadlines and New Guidance: SEC Adopts Final Rules Amending Beneficial Ownership...

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On October 10, 2023, the Securities and Exchange Commission (“SEC”) adopted amendments to the rules governing beneficial ownership1 reporting under Sections 13(d) and 13(g) of the Securities Exchange Act of 1934 (the...more

Lowenstein Sandler LLP

Proposed Regulations Would Impose New Reporting Requirements on Transactions Involving Cryptocurrency and Other Digital Assets

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In response to a provision in the 2021 Infrastructure Investment and Jobs Act, the Department of the Treasury and the Internal Revenue Service (IRS) have issued proposed regulations that would impose new tax reporting...more

A&O Shearman

Ninth Circuit Holds That Complaint Sufficiently Alleged Company Was “Statutory Seller” Under Section 12(a)(2) Based On Social...

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On December 21, 2022, the United States Court of Appeals for the Ninth Circuit affirmed in part and denied in part the dismissal of a purported class action suit against a real estate property management company (the...more

Allen Matkins

When Selling Partnership Interests May Require A Real Estate Broker's License

Allen Matkins on

The definition of a "real estate broker" under the California Real Estate Law encompasses much more than simply selling real estate.   For example, Business & Professions Code Section 10131.3 defines a real estate broker as...more

A&O Shearman

Revised Global Principles on Outsourcing for Regulated Participants in the Securities Markets

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The International Organization of Securities Commissions has published an updated Principles on Outsourcing for regulated market participants in the securities markets.  The updated Principles are based on IOSCO’s 2005...more

Ballard Spahr LLP

Investment Management Update

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SEC Issues Guidance on Mutual Fund Fee Structure - The Securities and Exchange Commission’s (SEC) Division of Investment Management recently issued a guidance update addressing disclosure issues and certain procedural...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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Wells Fargo is well past the rain, the pouring, and even the flooding. So why not possible liability for its RMBS practices? As part of an SEC disclosure, the bank acknowledge that it’s “in discussion” with the RMBS Working...more

Adler Pollock & Sheehan P.C.

Glossary of Important Securities Regulation Terms and Definitions

This Glossary is designed to provide law students taking Securities Regulation with a tool that will assist them in learning the basic language of securities law and achieve a working knowledge of the fundamental principles...more

Katten Muchin Rosenman LLP

California Brokers Plead Guilty to Insider Trading of Ardea Biosciences, Inc. Stock

On June 9, Chad Wiegand and Akis Eracleous, two San-Diego based brokers, pled guilty in California district court to trading in Ardea Biosciences, Inc. stock with inside information. Mr. Wiegand and Mr. Eracleous,...more

Dorsey & Whitney LLP

This Week In Securities Litigation

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The question of forum selection by the SEC was a key issue this week. While to date suits challenging the SEC’s right to bring an action as an administrative proceeding rather than in federal court have had little success –...more

Dorsey & Whitney LLP

This Week In Securities Litigation (Holiday wrap-up edition)

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Through the holidays (Dec. 19 – 31, 2014) the Department of Justice and the SEC continued to file securities enforcement actions. The Department brought an FCPA case which is now number two on the top ten list for amounts...more

McCarter & English, LLP

Foreign Brokers Doing Business in the United States

Foreign brokers that engage in securities transactions with U.S. investors based in the United States must be registered with the Securities and Exchange Commission (SEC). There are two major exceptions to this rule. The...more

Broker-Dealer Compliance + Regulation

FINRA Announces and Publishes Its Sweep of Order Routing Practices

FINRA announced this week that it is conducting a review of its member firms’ order-routing processes and procedures and the execution quality of customer orders in exchange-listed stocks. We previously reported in this...more

Robins Kaplan LLP

What A Broker Needs To Know About Suitability Under FINRA Rule 2111

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The Financial Industry Regulation Authority (“FINRA”) updated the suitability requirements for brokers in July 2012. FINRA’s goal was to codify principles found in case law and expand language to account for a wide range of...more

Burr & Forman

Is A Licensed Securities Dealer A “Professional” Under Alabama Law Prohibiting Enforcement Of Nonsolicitation Agreements Against...

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The Alabama Court of Civil Appeals released a slip opinion on May 16, 2014 addressing enforcement of a nonsolicitation agreement against a licensed securities broker. See G.L.S. & Associates, Inc., and G.L. Smith &...more

Burr & Forman

Closed End Funds

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The Financial Industry Regulatory Authority (“FINRA”) has, in recent months, increased its regulatory focus on investor awareness regarding closed-end funds (“CEFs”). In October of last year, FINRA issued an Investor Alert...more

Dechert LLP

Financial Services Quarterly Report - Fourth Quarter 2013: A New Age of Electronic Trading Regulation in Asia?

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Hong Kong introduces a new electronic trading regulatory regime with effect from 1 January 2014, when all licensed and registered persons in Hong Kong that conduct electronic trading of securities and futures contracts listed...more

Proskauer Rose LLP

SEC Staffer Cautions Private Funds Industry on Potential Broker Registration Issues

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In a recent speech given to the ABA Trading and Markets Subcommittee, David W. Blass (Chief Counsel of the SEC's Division of Trading and Markets) focused on a number of activities commonly conducted by private fund advisers...more

Allen Matkins

Court Rules Law Firm That Drafted Documents Was Not A Seller Of Securities

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Section 25400(d) of the California Corporations Code declares it unlawful for any broker-dealer or “other person selling or offering for sale” to make a false or misleading statement for the purpose of inducing the purchase...more

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