SEC and FINRA Release 2021 Examination Priorities
3/15/21
By: Chad Weaver and Tyler Jacobs
On March 3rd, the SEC Division of Examinations announced their 2021 examination priorities. Earlier this year, on February 2nd, FINRA released a report of Examinations and Risk Monitoring to provide …
More Money Can Mean More Problems: The Evolution of Coverage for Cryptocurrency
9/20/19
By: Danny Walsh and Isis Miranda
Businesses, governments, and non-profits across the globe are implementing projects that leverage blockchain, a digital ledger technology, to improve their operations.
Cryptocurrency is one of the more controversial uses of blockchain technology. Although Bitcoin …
Duties of Care and Loyalty Coming to Investments Near You
6/28/19
By: Matthew Jones
The approval of Regulation Best Interest by the Securities and Exchange Commission last month continues to spark debate and controversy, and the future of the Rule remains uncertain. The Rule’s implementation was set for June 30, 2020. …
6/17/19
By: Joseph Suarez
On June 5, 2019, the U.S. Securities and Exchange Commission (“SEC”) approved its Best Interest Rule (the “Rule”) package requiring broker-dealers, and investment advisors, to act in their retail clients’ “best interests.” The SEC states the Rule, …
Protecting Seniors From Investment Exploitation – One Year Later
6/3/19
By: Ryan Baggs
One year after the passage of the Senior Safe Act (the “Act”) the SEC, FINRA, and NASAA continue to emphasize the importance of “covered financial institutions” (“CFIs” or “CFI”) providing adequate training to all relevant employees for …
4/22/19
By: Jennifer Lee
On April 16, 2019, the U.S. Securities and Exchange Commission (“SEC”) issued a Risk Alert summarizing the findings from the examinations of broker-dealers and investment advisers’ privacy practices and compliance with Regulation S-P.
Regulation S-P, 17 C.F.R. …
3/28/19
By: Jennifer Lee
The Securities and Exchange Commission will be hosting a public forum on distributed ledger technology and digital assets in Washington DC on May 31, 2019. This is a part of the SEC’s increasing efforts to regulate cryptocurrency …
Latest FINRA Rules to Regulate Expungement Actions
2/19/19
By: Margot Parker
FINRA recently announced its approval of enhanced training and guidance for arbitrators hearing expungement requests, an issue under increasing scrutiny as over 90% of such actions are currently granted. The proposal is now under review by the …
10/16/18
By: Rebecca Smith
Nearly one-quarter of California-headquartered publicly held domestic or foreign corporations have no female directors. No later than the close of the 2019 calendar year, those companies will need to add at least one. Senate Bill 826 (SB …
8/27/18
By:Ted Peters
The Securities and Exchange Commission, created through the Securities Exchange Act of 1934, is without a doubt one of the most powerful regulatory agencies in the free world. According to its website, the SEC’s mission is …
Supreme Court to Revisit Liability Under Rule 10b-5 – Will Prospective Justice Kavanaugh Weigh In?
7/25/18
By: Ted Peters
Section 10(b) of the Securities Exchange Act, and Rule 10b-5 promulgated under it, makes certain conduct in connection with the purchase or sale of any security unlawful. Specifically, Rule 10b-5(a) prohibits the use of any “device, scheme, …
Loss of SEC Commissioners Piwowar and Stein May Wreak Havoc on SEC’s Proposed Fiduciary Regulations
6/1/18
By: Ted Peters
On May 7, 2018, Republican SEC Commissioner Michael Piwowar announced that he will resign effective July 7, 2018. Piwowar’s five-year term expires on June 5, but SEC commissioners are permitted to remain in office for up to …