Understanding Scope of Practice
Evolving State Supervision: Issues Arising from State Qualification Standards and 'SAFE' Act Licensing, and Coordination with the CFPB
On April 16, 2024, the Consumer Financial Protection Bureau ("CFPB" or "Bureau") issued a rule to update its procedures for designating nonbank covered persons for supervision. Section 1024(a)(1)(C) of the Consumer Financial...more
Firms would be able to treat private residences as non-branch offices instead of OSJs under certain circumstances. FINRA hopes to align its supervisory rules with current work-from-home practices....more
On November 16, 2022, the Department of Treasury (“Treasury”) issued a report titled “Assessing the Impact of New Entrant Non-bank Firms on Competition in Consumer Finance Markets” (“Treasury Report”), which, among other...more
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
- 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
The Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission (the SEC) issued a risk alert (the risk alert) on August 12, 2020, highlighting COVID-19 pandemic-related risks and...more
On the theory that three’s a charm, our third and final blog on Hong Kong private equity activities will take a look at Asset Management (Type 9) activities, which are among the most relevant regulated activities for private...more
CSBS publishes Draft Model Regulatory Framework to promote consistent state regulation of virtual currency activities and protect consumers in the event of a breach. In March 2014, “Mt. Gox,” one of the largest and best-known...more