Our recent client alert discusses the SEC complaint against three individuals alleging insider trading of digital assets via a scheme to trade ahead of multiple announcements regarding crypto assets being made available on a United States-based digital asset exchange at which one individual was a former product manager.
Our recent client alert discusses whether the SEC’s proposals to expand the “exchange” and “dealer” definitions are part of the agency’s crypto and defi strategy.
Our recent client alert discusses the SEC’s “Reg Flex” agenda for rulemaking, which provides a glimpse into how the agency will prioritize its resources over the coming six months from a policy and rulemaking standpoint.
Our recent client alert discusses the complaint the SEC recently filed, which marks the first charges the agency has brought under Regulation Best Interest, the SEC’s landmark ruling from 2019.
Cybersecurity and technology governance remain a top area of focus for the SEC and FINRA, as the regulators continue to concentrate on improving the overall cybersecurity posture and resiliency of the financial sector. FINRA covered this in its 2022 Report on its Examination and Risk Monitoring Program. The SEC is…
Our recent client alert discusses the package of new rules the SEC recently proposed to address and enhance investor disclosure practices, and related policies and procedures, regarding ESG investment considerations and objectives by investment advisers to registered investment companies and private funds and other clients.
It came as no surprise that FINRA’s 2022 Examination and Risk Monitoring Program Report highlighted communications with the public as a continued area of focus. The primary theme across this focus area relates to the sufficiency of internal processes, procedures, and controls. As FINRA has done with other areas, the…
The SEC recently published its 2022 Examination Priorities Letter on the heels of FINRA issuing its 2022 Examination and Risk Monitoring Program Report. One of many areas of common focus is financial management, and more specifically, net capital requirements and safekeeping of funds and securities. The SEC, for example, reminded…
Our recent client alert discusses an SEC staff bulletin reiterating the standards of conduct applicable to broker-dealers and investment advisers when making account recommendations to retail investors. Broker-dealers are subject to Reg. BI. Investment advisers are subject to the fiduciary standard under the Advisers Act. The standards of conduct are…
The SEC recently proposed rules that would greatly expand the Exchange Act definition of “dealer” and essentially kill the existing dealer/trader distinction long-recognized by the SEC. The likely outcome is that most proprietary trading firms will need to register with the SEC as dealers and become members of FINRA or…