Search Results: Broker-Dealers

FINRA Publishes 2022 Examination and Risk Monitoring Report

On February 9, 2022, FINRA published its 2022 Report on its Examination and Risk Monitoring Program, identifying key areas of focus for broker-dealer exams this year.  While each exam is unique to the firm under FINRA’s microscope, the Report provides a general roadmap of FINRA’s core concerns for 2022. FINRA’s…

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SEC Proposes Rules that Could Regulate DeFi, Extend to Aspects of Centralized Crypto Exchanges

Here is a link to our client alert addressing the SEC’s proposed change to the “exchange” definition, including introduction of the new term “communication protocol system.” There were zero references to crypto, blockchain, DeFi, or distributed ledger technology in the 654-page proposal. Nevertheless, the proposal makes clear that it applies…

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SEC Eyeing Rulemaking to Combat Market Volatility, Modernize Market Structure

On January 26, 2022, SEC Chairman Gary Gensler issued a brief statement noting the agency’s efforts to address the market volatility in January 2021 and beyond.  The statement referenced the SEC staff report on volatility and market structure conditions and a request for comment related to digital engagement practices or…

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FINRA Extends the Registration Qualification Window from Two to Five Years After Termination

Persons registered with a broker-dealer historically have had two years from their Form U5 filing date to re-register with another firm before their prior qualifications (examinations) would lapse.  Our recent Client Alert  discusses a FINRA rule change that extends this to five years under certain circumstances.

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Is the SEC Still Considering Fixes to the Bond Markets?

The SEC has made a concerted effort in recent years to look more closely at the fixed income markets.  But under the new leadership of Chairman Gary Gensler, that spotlight seemed to have dimmed—or so some thought. For example, FIMSAC—the Fixed Income Market Structure Advisory Committee—which the SEC convened in…

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SEC’s Gensler Shines Additional Light on Agency’s Focus

The SEC has been increasingly focused on digital engagement practices (DEPs) and gamification in the marketplace.  In August, for example, the SEC solicited public comment on broker-dealer and investment adviser DEPs and potential regulatory approaches in this area.  In October, SEC staff produced a report on “meme” stock events and…

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