Search Results: Regulatory Guidance

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.

Read More

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.

Read More

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…

Read More

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,…

Read More

BD and IA Conflicts of Interest: SEC Staff Says Don't Set It (Them) and Forget It (Them)

Our recent client alert discusses a recent SEC staff bulletin covering the standards of conduct for broker-dealer and investment adviser conflicts of interest. The staff bulletin includes 13 Q&As categorized into five different flavors relating to identifying, eliminating, mitigating, and disclosing conflicts of interest, as well as related to product…

Read More