News & Analysis as of

Regulation BI Coronavirus/COVID-19

Faegre Drinker Biddle & Reath LLP

Robinhood vs. Massachusetts’ Secretary of the Commonwealth: A Battle for the Ages over Massachusetts’ New Strict Fiduciary Duty...

Massachusetts’ Secretary of the Commonwealth, William Galvin, is taking on Robinhood for violating Massachusetts’ new fiduciary duty rule for broker-dealers. In December 2020, Galvin filed a 24-page regulatory complaint,...more

Morgan Lewis

What's Ahead for the SEC in 2021

Morgan Lewis on

Morgan Lewis’s 15th annual 2020 Year in Review and a Look Forward provides a comprehensive overview and analysis of key 2020 US Securities and Exchange Commission (SEC) enforcement and examination developments, notable...more

UB Greensfelder LLP

FINRA’s 2021 Exam Priorities

UB Greensfelder LLP on

The world has changed a lot in the last 12 months, but those in the securities industry can always rely on their trusty regulator, FINRA, to put out its annual priorities list to provide some semblance of consistency in the...more

Faegre Drinker Biddle & Reath LLP

Best Interest Standard of Care for Advisors #29

On June 15, SEC Chairman Clayton issued a statement partially entitled: “Need for Increased Care when Recommending 401(k)/IRA Rollovers and Withdrawals . . .”. As that title suggests, the Chairman’s statement covers areas...more

Perkins Coie

FINRA and CFTC Staff Issue COVID-19 Advisories on Commodity-Linked ETPs and Funds

Perkins Coie on

In the wake of severe market volatility resulting from the COVID-19 pandemic, self-regulatory organizations and government agencies continue to provide guidance analyzing and interpreting the effects of the pandemic on market...more

Bass, Berry & Sims PLC

FINRA Officials Provide Insight on Enforcement, Examination and Rulemaking Priorities Amid COVID-19 Pandemic

Bass, Berry & Sims PLC on

Virtual Meetings - Colby said that consistent with FINRA’s rules requiring in-person hearings, it has conducted no remote hearings. He said there have been a handful of remotely conducted FINRA arbitrations, but those are...more

Foley Hoag LLP

SEC Keeps June 30 Deadline for Complying With Regulation Best Interest Despite COVID19

Foley Hoag LLP on

On April 2, Securities and Exchange Commission (SEC) Chairman Jay Clayton announced that despite the COVID-19 emergency, the SEC will not extend the June 30 deadline for compliance with Regulation Best Interest (Reg BI) and...more

Winstead PC

The SEC Opts Not to Extend Reg BI and Form CRS Compliance Deadline

Winstead PC on

Securities and Exchange Commission (the Commission) Chairman Jay Clayton today addressed the much anticipated delay to the compliance deadline for Regulation Best Interest (Reg BI), Form CRS and the related transparency...more

Burr & Forman

SEC Holds Firm On Reg. BI/CRS June 30 Compliance Date

Burr & Forman on

Securities and Exchange Commission Chair Jay Clayton issued an April 2 public statement that the SEC will hold firm on its June 30, 2020 deadline for firms to implement Reg. BI and Form CRS.  There had been industry...more

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