The financial services industry is subject to a regularly changing landscape of regulations and laws, driven in part by shifts in policy from regulators and lawmakers.

Goodwin’s FinReg + Policy Watch provides real-time updates and analyses focusing on regulation and policymaking. Issues are framed in an easy-to-digest manner, providing insight gained from our experience serving in key roles in government and advising clients across the industry.

Follow along as we deliver our take on the latest developments affecting the financial services community as well as the road ahead.

SEC Examinations Division Publishes 2023 Priorities Letter

Our client alert discusses the SEC Division of Examinations list of priorities for 2023, which provides a roadmap for firms to better understand where the Division will take its examination efforts over the coming months.

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SEC EXAMS Division Publishes Reg. BI Risk Alert

Our client alert discusses the deficiencies the staff identified during examinations and provides examples of weak practices observed at firms. EXAMS staff intends for the alert to assist broker-dealers in reviewing and enhancing their Regulation Best Interest compliance programs. The alert also serves as a useful roadmap of the direction…

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FINRA 2023 Examination and Risk Monitoring Report Highlights Numerous Risk Areas for Brokers

Our client alert discusses FINRA’s 2023 Report on its Examination and Risk Monitoring Program, which serves as a resource for firms to use to bolster their compliance programs and provides a roadmap of FINRA’s main areas of examination for 2023.

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Broker-Dealer Compliance With Revamped Recordkeeping Requirements Begins May 3, 2023; FINRA Publishes Chart of “Most Significant Changes”

Our client alert discuss the recent SEC amendments to Exchange Act Rule 17a-4 adopting new recordkeeping requirements for broker-dealers. Most notably, the SEC will no longer require broker-dealers to maintain records in “write once, read many” or “WORM” format. Instead, broker-dealers have the option of utilizing a new “audit trail” alternative…

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FINRA Reminds Firms of Trusted Contact Person Requirement, Benefits, and Related Effective Practices

Our client alert discuss FINRA Regulatory Notice 22-31 reminding members of their regulatory obligations under Rule 4512 with respect to “Trusted Contact Persons” or “TCPs,” explaining the benefits of designating TCPs, and providing resources to educate customers about the role and value of TCPs. Perhaps the most significant section of…

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SEC "Gift" to the Industry: Four Market Structure Proposals, 3-2 Votes (In Part), but No Partridge in a Pear Tree

Our client alert discuss recent SEC rulemakings covering proposed new “Regulation Best Execution” (new Exchange Act Rules 1100, 1101, and 1102 establishing a best execution standard and requiring robust policies and procedures for firms engaging in certain conflicted transactions with retail customers); a proposed new “Order Competition Rule” (new Exchange Act Rule 616,…

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