News & Analysis as of

Policies and Procedures Supervision

McDermott Will & Emery

CMS Extends Remote Direct Supervision Flexibilities in CY 2025 Physician Fee Schedule Final Rule

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On November 1, 2024, the Centers for Medicare & Medicaid Services (CMS) issued the calendar year 2025 final rule for services reimbursed under the Medicare physician fee schedule. Among other developments, the final rule...more

Whiteford

California Department of Public Health's (CDPH) Limits On CRNA Scope of Practice Reminds Hospitals Nationwide to Revisit...

Whiteford on

The California Department of Public Health (CDPH) issued a letter on September 6, 2024, to all general acute care hospitals clarifying the scope of practice for Certified Registered Nurse Anesthetists (CRNAs) following...more

Goodwin

Supervisory Experience and Enforcement Actions Continue to Drive Supervisory Priorities and Policy Development

Goodwin on

This article identifies themes we have observed in recent public formal enforcement actions issued to institutions by the US federal bank regulatory agencies (Agencies) — the Board of Governors of the Federal Reserve System...more

WilmerHale

New York Department of Financial Services Proposes Heightened Standards for Character and Fitness of Executives

WilmerHale on

On May 9, New York State Department of Financial Services (DFS or the Department) Superintendent Adrienne A. Harris issued proposed guidance to clarify the DFS’s updated expectations regarding the review and assessment of the...more

BakerHostetler

SEC Finds Investment Adviser CEO Liable for Failing to Supervise High-Risk Representative

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On Nov. 3, 2022, the SEC announced a consent order against a registered investment adviser (RIA) and its chief executive officer (CEO) for failing to reasonably supervise one of the RIA’s investment adviser representatives...more

Ankura

Strategies for Preventing Research Misconduct

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It’s the type of scenario that can sully an institution’s reputation in an instant: A star researcher fabricates the results of experiments funded by grants. The data is published, the truth is discovered — and the...more

Moore & Van Allen PLLC

Riding the Regulatory Enforcement Train: FINRA Issues Reminder on Supervisory Liability for Chief Compliance Officers

Moore & Van Allen PLLC on

On March 17, 2022, FINRA issued Regulatory Notice 22-10 (“Notice”), which reminds FINRA member firms and their associated persons of the scope of supervisory liability for Chief Compliance Officers (“CCO”). The Notice...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

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

Akin Gump Strauss Hauer & Feld LLP

SEC Applies Fiduciary Duties Analysis to Voting Obligations

On August 21, 2019, the Securities and Exchange Commission (SEC) voted 3 to 2 to adopt new interpretive guidance (the “Voting Interpretation”) applicable to investment advisers regarding their proxy voting responsibilities as...more

Vedder Price

OCIE Issues Risk Alert Relating to Investment Adviser Oversight of Supervised Persons with Disciplinary Histories

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On July 23, 2019, the SEC’s Office of Compliance Inspections and Examinations (OCIE) issued a risk alert outlining its observations and recommendations following an examination initiative that focused on oversight practices...more

Proskauer Rose LLP

Broker-Dealer Beat - August 2019

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Remote Non-Branch Office Inspections: Facilitating Home Office Arrangements - Introduction - Financial services firms, like other businesses, must address employees' requests for more flexible work arrangements, including...more

Robinson+Cole Health Law Diagnosis

Rhode Island Removes Supervision Requirements for PAs in Favor of Expanded “Collaboration” Standard for PA Practice

On July 15, 2019, Rhode Island Governor Gina Raimondo signed into law “An Act Relating To Businesses and Professions – Physician Assistants” (H5572/S0443), which significantly revises the supervision requirements and expands...more

Hanzo

FINRA Regulatory Requirements for Archiving, Recordkeeping, and Supervision in 2019

Hanzo on

The Financial Industry Regulatory Authority's (FINRA) constantly updated record of disciplinary actions contains a mixed bag of run-of-the-mill infractions, unethical behavior, and large-scale corporate misconduct and...more

Dechert LLP

OCIE Publishes Risk Alert on the Use of Electronic Messaging by Investment Advisers and Employees

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The U.S. Securities and Exchange Commission’s Office of Compliance Inspections and Examinations (OCIE) issued a National Exam Program Risk Alert on December 14, 2018 concerning the use of electronic messaging by registered...more

Bass, Berry & Sims PLC

Chris Lazarini Analyzes Mandatory Arbitration Rule under FINRA Rule 12200

Bass, Berry & Sims attorney Chris Lazarini analyzed a case in which defendant Wilson-Davis, a securities firm, sought to enjoin an arbitration brought against it alleging that the firm's failure to supervise its agent caused...more

Bracewell LLP

FINRA Fines Lincoln Financial Sub $650,000 For Cybersecurity Shortcomings

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A Lincoln Financial Group subsidiary agreed to pay $650,000 to the Financial Industry Regulatory Authority (FINRA) to resolve allegations that it failed to implement sufficient security policies to protect confidential...more

Broker-Dealer Compliance + Regulation

FINRA Proposes Rules to Help Avoid Financial Exploitation of Seniors

Avoiding financial exploitation of older investors has been on our regulators’ radar screens for several years. With new rules proposed in October 2015, FINRA seeks to make investing safer for seniors and other vulnerable...more

Katten Muchin Rosenman LLP

OCC Revises Process for Managing Matters Requiring Attention

The Office of the Comptroller of the Currency (OCC) on October 30 published revised policy and procedures for how it manages Matters Requiring Attention (MRAs) resulting from its examination of supervised institutions. MRAs...more

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