Here is a link to our client alert discussing the SEC proposed rulemaking in this area.
Here is a link to our client alert discussing the SEC proposed rulemaking in this area.
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…
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…
Our recent client alert discusses the SEC’s recent securities lending proposal, which, if adopted, would create a new reporting and disclosure framework for the securities lending market. Rule 10c-1 would require any person who loans a security on behalf of itself or another person to report to FINRA certain material…
Here is a link to our Client Alert discussing this SEC proposed rulemaking. Please contact us if you have any questions.
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.
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…
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…
The onset of fall signals a sad realization that summer has ended, but also the joy that “market structure” season has arrived for securities industry participants and policy wonks. Right on cue, in early October, SEC staff issued a report on equity and option market structure conditions related to the…
The SEC recently solicited public comment on digital engagement practices (DEPs) used by some broker-dealers and investment advisers, including predictive data analytics, differential marketing, and behavioral prompts (such as gamification). The public comment window closes October 1, 2021. Comments letters submitted already are available here—viewpoints run the gamut and are…