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Investment Adviser Regulatory Oversight Financial Industry Regulatory Authority (FINRA)

SEC Compliance Consultants, Inc. (SEC³)

Compliance Roundup for April 5, 2024

Compliance Update for the week Ending April 5, 2024 - For our clients and compliance colleagues, this weekly update will give you a quick look at the latest regulatory developments. Enjoy!...more

K&L Gates LLP

SEC Expands "Dealer" Definition to Capture Liquidity Providers

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Introduction - On 6 February 2024, the US Securities and Exchange Commission (SEC) voted 3-2 to adopt two new rules that significantly expand the definitions of a “dealer” and “government securities dealer” in Sections...more

K&L Gates LLP

US Asset Management Regulatory Year in Review 2023

K&L Gates LLP on

It is a dramatic understatement to describe 2023 as a busy year in the United States for asset management regulation. With 24 rules adopted and 18 new rules or rule amendments proposed, the US Securities and Exchange...more

Dechert LLP

Artificial Intelligence: Legal and Regulatory Issues for Financial Institutions

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Over the last six months, artificial intelligence (AI) has captured the public imagination in a way it never has before. A new generation of AI-powered language models make use of a deep learning architecture known as a...more

Faegre Drinker Biddle & Reath LLP

FINRA Wades into the Controversial Deep-End of CCO Supervisory Liability

The lack of specific guidance regarding failure to supervise liability for chief compliance officers (“CCOs”) has been a controversial and opaque topic that both FINRA and the SEC have struggled with for well over a decade....more

UB Greensfelder LLP

LPL AWC Proves, Once Again, That Big Firms Can Buy Their Way Out Of Trouble That Would Kill Small Firms

UB Greensfelder LLP on

LPL may be the biggest BD in the country, with 21,500 reps operating out of almost 13,000 branch offices. Heaven knows how much money it brings in every year, but, goodness, it must be a lot. And good thing, too, given how...more

Burr & Forman

SEC Creates New Emerging & Event Risk Unit

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The SEC recently announced the creation of the Event and Emerging Risks Examination Team (“EERT”) in its Office of Compliance Inspections and Examinations (“OCIE”).  ...more

Rumberger | Kirk

Minimizing Liability Under the SEC’s Reg-BI

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Litigation Risks Posed by the SEC’s Regulation Best Interest - Pete Tepley and Meredith Lees highlight litigation risks posed by the SEC’s Regulation Best Interest (Reg-BI), litigation risks that may arise from Reg-BI’s...more

Dechert LLP

SEC Proposes Best Interest Standard for Broker-Dealers, Related Investment Adviser Guidance and New Customer Relationship Summary...

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The U.S. Securities and Exchange Commission on April 18, 2018 published a package of proposed rules and interpretations intended to improve the retail investor experience and to provide greater clarity regarding customers’...more

Carlton Fields

FINRA Moves Toward SEC Anti-Churning Proposal

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On April 18, the SEC voted to propose major rule changes to reconcile and clarify the standards of conduct that apply to broker-dealers and investment advisers. ...more

Carlton Fields

SEC Watchdog to Watch Watchdog

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The SEC’s Office of Compliance Inspections and Examinations (OCIE) has established a dedicated team charged specifically with inspecting FINRA and other FINRA-related work. This follows through on the SEC’s...more

Sheppard Mullin Richter & Hampton LLP

Watching the Detectives: The SEC Launches a Dedicated FINRA Oversight Unit

The SEC has launched a dedicated team to oversee FINRA, according to remarks by Marc Wyatt, Director of the SEC’s Office of Compliance Inspections and Examinations (“OCIE”). Congress has vested the SEC with the power to...more

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