News & Analysis as of September 21, 2024

Financial Institutions

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The Securities Exchance Act is a United States federal statute enacted in 1934 to govern the secondary securities trading market. In addition, the Securities Exchange Act established the Securities and Exchange... more +

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Red Flag Refresher: Broker-Dealers and the Importance of Strong AML Compliance

Holland & Knight LLP on 7/6/2022

The SEC continues to focus a portion of its enforcement attention on registrants' obligations with regard to anti-money laundering (AML) compliance and transaction monitoring. In this post, we provide a refresher on the...more

SEC Adopts Final ETF Rule to Streamline and Ease Product Development

Sullivan & Worcester on 10/10/2019

On September 26, 2019, the Securities and Exchange Commission (“SEC”) adopted a new rule to modernize the regulation of most exchange-traded funds (“ETFs”). Rule 6c-11 (the “Rule”) under the Investment Company Act of 1940, as...more

U.S. SEC Proposes Liquidity Risk Management Programs, Optional “Swing Pricing,” and Liquidity Reporting for Mutual Funds and...

K&L Gates LLP on 10/26/2015

On September 22, 2015, the Securities and Exchange Commission (“SEC”) proposed a new rule and amendments to rules and reporting forms under the Investment Company Act of 1940 (the “1940 Act”), designed to standardize...more

Banking Regulators Adopt End-User Exemption for Swap Margin Requirements

Stinson - Corporate & Securities Law Blog on 10/23/2015

New Margin Requirements - The Board of Directors of the Federal Deposit Insurance Corporation approved a final rule to establish margin requirements for swaps that are not cleared through a clearinghouse. This action is...more

Reflections on the Hitachi FCPA Enforcement Action

Thomas Fox - Compliance Evangelist on 9/30/2015

Earlier this week, the Securities and Exchange Commission (SEC) announced resolution of a Foreign Corrupt Practices Act (FCPA) enforcement action involving the Hitachi Ltd (Hitachi). There were several interesting aspects to...more

SEC Updates Compliance and Disclosure Interpretations for Legacy Deals

Orrick - Finance 20/20 on 9/29/2015

On September 16, the SEC released its updated compliance and disclosure interpretations for the rules adopted under Regulation AB, the Securities Act and the Exchange Act. Among others, the updated interpretation clarified...more

In Win for CFPB, Federal Court Clarifies Scope of “Substantial Assistance” and “Service Provider” Provisions of Dodd-Frank Act

K&L Gates LLP on 9/10/2015

In the first court decision to opine on the “service provider” and “substantial assistance” provisions of the Dodd-Frank Act, a federal district court in Georgia denied a motion to dismiss brought by payments processors who...more

FINRA Rule 2040 Goes Into Effect

Burr & Forman on 8/27/2015

On August 24, 2015, FINRA Rule 2040 concerning payments to unregistered persons went into effect. The rule, approved by the SEC in January 2015, is aligned with § 15(a) of the Securities Exchange Act of 1934. Generally, FINRA...more

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Securities Exchange Act › Compliance › Financial Institutions

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