The Day After: There are still a few undecided races but we know that Republicans will control the House and the Senate in the next session of Congress. This may provide an opportunity for more bipartisan legislation in the...more
In this issue:
- In preliminarily denying two exemption requests, the SEC takes a stand for market transparency in ETFs and upholds the arbitrage mechanism that allows market prices to closely track NAVs.
-...more
10/30/2014
/ ABS ,
Administrative Hearings ,
Arbitrage ,
Asset-Backed Securities ,
Bank Secrecy Act ,
Disclosure Requirements ,
Enforcement Actions ,
ETFs ,
Financial Industry Regulatory Authority (FINRA) ,
FinCEN ,
Flood Insurance ,
Flood Zones ,
Money Services Business ,
Municipal Advisers ,
NAV ,
New Regulations ,
Private Equity Funds ,
Proposed Regulation ,
Risk Retention ,
Securities and Exchange Commission (SEC) ,
Transparency ,
Virtual Currency
Editor’s Note:
Bank Regulators Again Looking at Incentive Compensation and Excessive Risks. Federal Reserve Board Governor Daniel Tarullo and New York Federal Reserve President William Dudley spoke on October 20 at a...more
10/23/2014
/ Arbitration ,
Arbitrators ,
Banks ,
CFTC ,
CPOs ,
DSIO ,
Enforcement Actions ,
Falsified Documents ,
Federal Reserve ,
Financial Industry Regulatory Authority (FINRA) ,
Insider Trading ,
No-Action Relief ,
Securities and Exchange Commission (SEC)
Editor’s Note -
Looking Ahead: December 1 Effective Date for FINRA Consolidated Supervision Rules. The new FINRA Supervision rules, approved by the SEC in December 2013, become effective on December 1, 2014. The new...more
10/21/2014
/ Asset-Backed Securities ,
Banks ,
Broker-Dealer ,
DPPs ,
Federal Reserve ,
Financial Industry Regulatory Authority (FINRA) ,
ISDA ,
ISDA Master Agreement ,
NASD ,
REIT ,
Securities and Exchange Commission (SEC)
Spotlight on the MSRB: In the Industry Developments section we report that the SEC, FINRA and the MSRB will be conducting a compliance outreach program for municipal advisors. The Municipal Securities Rulemaking Board was...more
10/9/2014
/ CARDS ,
CPOs ,
ETFs ,
Financial Industry Regulatory Authority (FINRA) ,
Herbalife ,
Insider Trading ,
Investment Adviser ,
Municipal Advisers ,
NFA ,
Pay-To-Play ,
Public Comment ,
Securities and Exchange Commission (SEC)
Editor’s Note:
Spotlight on the Federal Reserve and CSBS 2014 Community Banking Report. On September 24 the Federal Reserve and the Conference of State Bank Supervisors (CSBS) announced the release of their report,...more
In this Issue: Last week brought news of several enforcement actions by the SEC against investment advisers on a number of issues: Rule 105 of Regulation M, improper withdrawals characterized as management fees, violation of...more
In This Issue: The CFTC provided long-awaited exemptive relief for commodity pool operators that wish to offer their funds in private offerings using general solicitation under Rule 506(c) of the SEC’s Regulation D. ...more
9/18/2014
/ CFTC ,
Commodity Pool ,
Compliance ,
CPO ,
Dodd-Frank ,
Enforcement ,
Enforcement Actions ,
OCIE ,
Private Offerings ,
Regulation D ,
Rule 506(c) ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Swap Dealers ,
Swaps
The SEC recently approved amendments to simplify and refine the scope of FINRA corporate financing and underwriter conflicts of interest rules. The amendments include modifications that will affect not only underwriters and...more
On Jan. 31, 2014, the SEC issued a no-action letter that permits private company M&A brokers to avoid registration with the SEC as broker-dealers under certain circumstances. However, business brokers should understand that...more
The SEC’s final Municipal Advisor Rules, effective January 13, 2014, apply to many of the advisory services and products provided by banks and trust companies to municipal entities, such as state and local governments, and to...more