Compliance Tip of the Day: COSO Objective 5 – Monitoring Activities
PODCAST: Williams Mullen's Raising Capital 101: A Securities Podcast - What Laws Affect Securities Offerings?
Payment for Order Flow (PFOF) and Gamification: Your Questions Answered
Summer Enforcement Action Review; Raising Money in a Pandemic - Investment Management Roundtable Discussion
Investment Management and Private Funds Roundtable – June 2020
Videocast: Asset management regulation in 2020 videocast series – FinTech initiatives
Videocast: Asset management regulation in 2020 videocast series – Fiduciary investment advice: The patchwork emerges
Videocast: Asset management regulation in 2020 videocast series – SEC enforcement
Videocast: Asset management regulation in 2020 videocast series – Complying with new SEC rules for broker-dealers
Investment Management Roundtable Discussion – Regulatory and Enforcement Update
Regulation Best Interest Videocast Series: Establishing An Investment Platform Post-Regulation BI
Investment Management Update - Focus on Data Privacy and Cybersecurity
FINRA lacks subpoena power. In lieu, Rule 8210 is the backbone of its self-regulatory framework. Failure to comply or providing incomplete or untruthful responses can lead to severe sanctions, including expulsion for firms...more
On December 3, 2025, the US Securities and Exchange Commission (SEC) announced additional temporary exemptive relief from compliance with Securities Exchange Act of 1934 (Exchange Act) Rules 13f-2 and 10c-1a....more
SERC’ling Up is your resource for staying ahead in today’s fast-evolving financial landscape. This newsletter delivers perspectives on the latest enforcement trends, regulatory updates and high-stakes developments affecting...more
On December 5, 2025, the Securities and Exchange Commission (the “SEC”) agreed to modify certain long-standing restrictions placed on major investment banks as part of a court settlement (commonly referred to as the “global...more
On December 5, 2025, the Securities and Exchange Commission consented to modifications to the Global Research Settlement applicable to settling firms, which has been in place since the aftermath of the dot‑com bubble...more
On December 3, 2025, the Securities and Exchange Commission (SEC) issued an exemptive order extending the compliance dates for two rules: Rule 10c-1a (Reporting of Securities Loans) Rule 13f-2 (Short Position and Short...more
On November 17, 2025, the Division of Trading and Markets (the “Staff”) of the Securities and Exchange Commission (SEC) issued a no-action letter allowing a personal-services entity (PSE) to receive transaction-based...more
It has been approximately one (1) month since the Financial Industry Regulatory Authority (FINRA) has launched a targeted review of broker-dealer activity in small-capitalization offerings involving foreign...more
The SEC Division of Trading and Markets recently issued significant no-action relief permitting registered representative–owned personal services entities to receive transaction-based compensation under strict conditions...more
Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more
In SR-FINRA-2024-022 (Proposed Rule Change to Amend the Codes of Arbitration Procedure to Make Clarifying, Technical and Procedural Changes to the Arbitrator List Selection Process), FINRA DRS sought to amend both the FINRA...more
On October 21, the Financial Industry Regulatory Authority (FINRA) filed a settled enforcement action involving allegedly improper gifts and entertainment in connection with sales of mutual fund shares. The $10 million fine...more
In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments from October 2025. In October 2025: The federal government shutdown substantially impacted the US Securities...more
FINRA’s President and Chief Executive Officer, Robert Cook, recently published a blog post describing FINRA’s ongoing efforts to integrate artificial intelligence (“AI”), including generative AI (“GenAI”), into its regulatory...more
Welcome to the Regulatory Roundup. Each month, Eversheds Sutherland Investment Services attorneys review significant regulatory developments (including notable rulemakings and guidance from securities regulators) from the...more
As FINRA’s proposed amendments to Rule 3220 (Influencing or Rewarding Employees of Others), aka the “Gift Rule,” and related rules are pending, it has sent a strong message that firms must continue diligently policing gifts...more
FINRA Rule 2341 generally limits gifts to $100 per person per year (though FINRA recently proposed an increase to $300) and permits only occasional, non-sales conditioned business meals or entertainment. FINRA found that the...more
On October 23, FINRA announced that it is investigating broker-dealers that have helped small companies based in China and other foreign jurisdictions to go public, signaling that it is looking into possible stock...more
All SEC-registered investment advisers (“advisers”) are required to annually renew their state notice filings and state representative and branch registrations through the IARD Renewal Program. Despite the government...more
On October 28, FINRA detailed how it has used AI and GenAI technologies to help it oversee the securities markets. FINRA reported the rollout of new GenAI-enabled tools, such as an internal large language model chat system...more
FINRA has initiated a targeted examination focusing on broker-dealers’ participation in small-cap offerings involving foreign issuers, particularly those with business operations in foreign jurisdictions such as China. The...more
On Thursday October 23, 2025, the Financial Industry Regulatory Authority (FINRA) announced a targeted sweep aimed at small-capitalized (“small-cap”) exchange-listed issuers1 with ties to business operations in foreign...more
On October 9, 2025, FINRA’s Department of Enforcement finalized a letter of acceptance, waiver, and consent (AWC) to settle with a Miami-based broker-dealer for violations of FINRA Rules 3310(a) and 2010 regarding said firm’s...more
The Wall Street Journal reported last week that “Popular Leveraged Funds Shock Investors With Huge Losses.” It is important to understand how to offer such instruments consistent with regulatory expectations....more
The Financial Industry Regulatory Authority (FINRA) has announced a targeted review of broker-dealers involved in small-cap initial public offerings (IPOs) and related transactions for companies based in foreign...more