Amid ongoing federal government shutdown risks and the close of its fiscal year, the U.S. Securities and Exchange Commission's (SEC) Division of Examinations (Exams) recently announced its fiscal year (FY) 2024 priorities....more
10/26/2023
/ Anti-Money Laundering ,
Broker-Dealer ,
Clearing Agencies ,
Compliance ,
Cryptoassets ,
Cybersecurity ,
FinTech ,
Investment Adviser ,
Investment Companies ,
Market Participants ,
Regulation SCI ,
Risk Alert ,
Risk Assessment ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
SRO
The SEC's Division of Examinations (Exam) published a Risk Alert on Jan. 30, 2023, summarizing alleged deficiencies its staff observed since Exam started conducting broker-dealer examinations to assess compliance with...more
We here at SECond Opinions pride ourselves on staying current on all things SEC. But how about when in a single day, the SEC finalizes one rule and proposes four others (totaling 1,656 pages!) that could drastically change...more
12/16/2022
/ 10b5-1 Plans ,
Best Execution ,
Broker-Dealer ,
Corporate Governance ,
Disclosure Requirements ,
Insider Trading ,
Proposed Amendments ,
Publicly-Traded Companies ,
Regulation NMS ,
Rulemaking Process ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Regulation ,
Tick Size
The SEC continues to focus a portion of its enforcement attention on registrants' obligations with regard to anti-money laundering (AML) compliance and transaction monitoring. In this post, we provide a refresher on the...more
7/6/2022
/ Anti-Money Laundering ,
Broker-Dealer ,
BSA/AML ,
Compliance ,
Department of Justice (DOJ) ,
Enforcement Priorities ,
Financial Institutions ,
FinCEN ,
Risk Alert ,
Securities Exchange Act ,
Suspicious Activities ,
Suspicious Activity Reports (SARs)
The SEC's Division of Enforcement continues to focus on registrants' compliance with Form CRS, a byproduct of the agency's rulemakings "designed to enhance the quality and transparency of retail investors' relationships with...more
2/25/2022
/ Broker-Dealer ,
Conflicts of Interest ,
Enforcement Actions ,
Financial Industry Regulatory Authority (FINRA) ,
Form CRS ,
Investment Advisers Act of 1940 ,
Retailers ,
Securities and Exchange Commission (SEC) ,
Securities Exchange Act ,
Securities Exchange Act of 1934 ,
Transparency
As a piggyback to our prior posts on the U.S. Securities and Exchange Commission's (SEC) proposed amendments to Form PF (Jan. 21 blog and Jan. 26 blog), we now dig deeper into the Division of Examinations' (EXAMS)1 Jan. 27,...more
The Financial Industry Regulatory Authority (FINRA) issued a regulatory notice on Oct. 8, 2021, encouraging its broker-dealer members to review and prepare to incorporate into their own compliance programs the national...more
10/18/2021
/ AML/CFT ,
Bank Secrecy Act ,
Broker-Dealer ,
Compliance ,
Enforcement Actions ,
Examination Priorities ,
Financial Industry Regulatory Authority (FINRA) ,
New Guidance ,
Non-Bank Lenders ,
Nonbank Firms ,
Regulatory Oversight