In a Legal Alert issued before the SEC open meeting, we posed five questions that our Investment Services team would be looking out for as part of this meeting. We now have answers to some of these questions....more
7/31/2023
/ Analytics ,
Artificial Intelligence ,
Broker-Dealer ,
Compliance ,
Conflicts of Interest ,
Fiduciary Duty ,
Investment Adviser ,
Investment Advisers Act of 1940 ,
Proposed Rules ,
Regulation BI ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Standard of Care ,
Technology
As might be expected, FINRA appears to be aligning itself with the SEC in its assertion of jurisdiction over investments that may not, at the end of the day, be deemed securities. ...more
11/16/2022
/ Affiliates ,
Blockchain ,
Broker-Dealer ,
Cryptoassets ,
Cryptocurrency ,
Distributed Ledger Technology (DLT) ,
Financial Industry Regulatory Authority (FINRA) ,
Investment Adviser ,
Marketing ,
Popular ,
Retail Investors ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Unregistered Securities
On January 26, 2022, the US Securities and Exchange Commission (SEC) proposed a rule (Proposed Rule) amending - and significantly broadening - a rule that defines certain terms used in the statutory definition of “exchange.”...more
As 2020 came to a close, the issue of how digital asset securities can be custodied by US broker-dealers became clearer, at least from a regulatory standpoint. In a release issued pursuant to the Securities Exchange Act of...more
Recently, the U.S. Securities and Exchange Commission (SEC) issued an Investor Alert (the Alert) warning investors to use caution before investing in initial exchange offerings (IEOs) through online trading platforms. The...more
2/19/2020
/ Anti-Money Laundering ,
Broker-Dealer ,
Due Diligence ,
Initial Coin Offering (ICOs) ,
Initial Exchange Offering (IEO) ,
Investors ,
Know Your Customers ,
Offshore Listings ,
Online Platforms ,
Regulation ATS ,
Risk Alert ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Unregistered Securities
Coming on the heels of the share class initiative, the US Securities and Exchange Commission (SEC) is at the initial stages of another initiative involving concerns about adviser disclosures and conflicts related to bank...more
11/22/2019
/ Asset Management ,
Broker-Dealer ,
Employee Retirement Income Security Act (ERISA) ,
FDIC ,
Government Securities ,
Liquidity ,
Management Fees ,
Money Market Funds ,
Net Capital Rule ,
OCC ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act
On January 31, 2014, the U.S. Securities and Exchange Commission’s (SEC) Division of Trading and Markets issued a No-Action Letter (Letter)1 that allows a private business broker (M&A Broker) to receive transaction-based...more
In the dog days of August, it would be tempting to put aside challenges created by new Securities and Exchange Commission (SEC) rules. But we all know that would be a mistake. Instead, attention needs to be paid now to new...more