Is There a Standard Form of Rule 144A Representation Letter? -
My file of Rule 144A representation letters has been growing fatter, and I‘m not sure why.
I would have hoped that by now there would be just one great...more
2/12/2016
/ Banking Sector ,
Broker-Dealer ,
Corporate Issuers ,
Disclosure Requirements ,
Employee Retirement Income Security Act (ERISA) ,
Federal Reserve ,
Financial Industry Regulatory Authority (FINRA) ,
Institutional Investors ,
IRS ,
Market Basket ,
Regulation S-K ,
Representations and Warranties ,
Rule 144A ,
Rule 15a-6 ,
Securities and Exchange Commission (SEC) ,
Structured Finance ,
Structured Financial Products ,
TLAC
Readers of this blog are familiar with the recent regulatory changes that have created new possibilities for non-registered capital raises in the U.S.: general solicitations in Regulation D offerings, Regulation A+,...more
FINRA has filed with the SEC a proposed rule which would reduce the regulatory burden for broker-dealers that limit their activities to M&A and certain corporate financing transactions. The proposed rule would create a new...more
Structured Products Offerings and Research Reports:
Introduction -
Structured products are sold by broker-dealers, many of which are affiliates of large investment banks. The equity research group of the same...more
11/6/2015
/ Binary Options ,
Broker-Dealer ,
Disclosure Requirements ,
Equity Research Rule ,
ETNs ,
Financial Industry Regulatory Authority (FINRA) ,
Global Systemically Important Financial Institutions (GSIFI) ,
License Agreements ,
Offerings ,
Sanctions ,
Securities and Exchange Commission (SEC) ,
Structured Financial Products ,
Websites
U.S. Structured Warrant Programs:
Introduction -
U.S. and non-U.S. banks have offered structured warrants in the U.S. to address the needs of both institutional and high-net worth investors. This article will...more
10/17/2015
/ Advertising ,
Banking Sector ,
Broker-Dealer ,
Cease and Desist ,
Cooperation ,
Corporate Financing Rule ,
Disclosure Requirements ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Hedges ,
High Net-Worth ,
Institutional Investors ,
Internal Controls ,
Investors ,
Material Misstatements ,
Misleading Statements ,
Neither Admit Nor Deny Settlements ,
OCC ,
Omissions ,
Private Offerings ,
Prospectus ,
Public Offerings ,
Required Documentation ,
Securities and Exchange Commission (SEC) ,
Settlement ,
Structured Finance ,
Structured Financial Products ,
Survivor Benefits ,
Warrants
On September 17, 2015, FINRA announced that it would propose rules to help member firms protect seniors and other vulnerable adults from financial exploitation. The proposal would create a safe harbor enabling broker-dealer...more
9/23/2015
/ Amended Regulation ,
Broker-Dealer ,
Disability ,
Elder Abuse ,
Elder Issues ,
Exploitation ,
Financial Industry Regulatory Authority (FINRA) ,
Investor Protection ,
OCIE ,
Proposed Regulation ,
Safe Harbors
On September 15, 2015, OCIE issued a risk alert relating to its new cybersecurity examination initiative. This is the second round of these examinations, and the alert provides a detailed look at OCIE’s current areas of...more
9/17/2015
/ Broker-Dealer ,
Cyber Incident Reporting ,
Cyber Threats ,
Cybersecurity ,
Data Privacy ,
Data Protection ,
Data Security ,
Financial Industry Regulatory Authority (FINRA) ,
Hackers ,
Investment Adviser ,
OCIE ,
Risk Alert ,
Risk Management ,
SEC Examination Priorities ,
Securities and Exchange Commission (SEC) ,
Third-Party ,
Training
OCIE Issues Risk Alert Relating to Structured Note Sales -
Earlier this year, the SEC’s Office of Compliance Inspections and Examinations (the “OCIE”) indicated branch offices and structured products as two of its...more
9/1/2015
/ Broker-Dealer ,
Compensation Standards ,
Derivatives ,
EDGAR ,
Endangered Species Act (ESA) ,
EU ,
Financial Industry Regulatory Authority (FINRA) ,
Financial Institutions ,
Internal Communications ,
IRS ,
Loss Contingencies ,
NASD ,
OCIE ,
Risk Alert ,
Risk Management ,
Securities and Exchange Commission (SEC) ,
Structured Finance ,
Training ,
UK ,
Underwriting
FINRA has made no secret of its interest in broker compensation, and the potential conflicts of interest that can be generated by some types of compensation practices. FINRA discussed these issues in its 2015 annual...more
In This Issue:
- Key Regulators Speak at Structured Products Conference
- FINRA Shows Its CARDS; It Will Use Big Data to Review Suitability of Complex Products Sales
- FINRA’s Proposed Bond Mark-up...more
12/2/2014
/ Advertising ,
Big Data ,
Broker-Dealer ,
CARDS ,
Disclosure Requirements ,
Exchange-Traded Products ,
Financial Industry Regulatory Authority (FINRA) ,
Regulatory Agenda ,
Regulatory Standards ,
Securities and Exchange Commission (SEC) ,
Structured Financial Products
In This Issue:
- The SEC Issues Its Long-Awaited Sweep Letter on ETNs
- FINRA Proposes Amendments to Communication Rules – Relief from Filing for Certain FWPs
- Comprehensive Surveillance Sharing Agreements
-...more
In This Issue:
Due Diligence Procedures for Structured Note Distributors; Key Issues for Yankee CDs; The SEC and FINRA: Protect Your Elders; The FSOC’s 2013 Annual Report: Increasing Exchange-Traded Product Activity;...more
In This Issue:
FINRA’s 2013 Communication Rules and Revisions to MSDAs; Regulation R and Bank Sales of Structured Products; FCA Temporary Product; and Intervention Rules: Nipping It in the Bud.
Excerpt from...more