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Commodities Futures Trading Commission Broker-Dealer Investment Adviser

The United States Commodities Futures Trading Commission was created in 1974 to regulate commodity futures and option markets. The Commission’s mission is to protect market participants and the public from... more +
The United States Commodities Futures Trading Commission was created in 1974 to regulate commodity futures and option markets. The Commission’s mission is to protect market participants and the public from fraud, abuse, and systemic risk associated with derivatives subject to the Commodities Exchange Act. In 2010, as a result of the Frank-Dodd Wall Street Reform and Consumer Protection, the Commission’s role was expanded to include drafting rules for regulating the swaps marketplace. less -
Sullivan & Worcester

SEC and CFTC Continue Their Lucrative Pursuits of Penalizing Unapproved Communication Methods

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SEC's and CFTC's Enforcement Actions Against Multiple Firms - In its continued pursuit of rooting out and penalizing broker-dealers and investment advisers for their failure to prevent unapproved communication methods, the...more

Alston & Bird

SEC and CFTC Rake In $474 Million in Fines for Off-Channel Communications, Rewarding Registrants That Self-Disclosed

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Two and a half years after the first major settlement with some of the world’s largest financial institutions, the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) persist in their...more

Morrison & Foerster LLP

Significant Investment Adviser Regulatory Developments in 2024

Alongside the rapid pace of Securities and Exchange Commission (SEC) rulemaking, the SEC and its Staff continue to shape regulatory obligations for investment advisers in 2024 through guidance, alerts, enforcement actions,...more

Sullivan & Worcester

Taking Steps Toward Federal Blockchain and Cryptocurrency Regulation

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On May 22, 2024, with bi-partisan support, the U.S. House of Representatives passed H.R. 4763, the Financial Innovation and Technology for the 21st Century Act (“FIT21”), becoming the first major cryptocurrency legislation to...more

Davis Wright Tremaine LLP

Broker Dealer Regulatory Digest - May 2024 - 2

Securities and Exchange Commission. Customer ID requirements. On May 13, 2024, SEC and FinCEN proposed a rule designed to make it more difficult for criminal actors to establish customer relationships with investment...more

Carlton Fields

Expect Focus - Volume II, May 2024

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Last Lap in SEC RILA Rulemaking Critical Unresolved Issues - Congress directed the SEC to adopt a new registration statement for registered indexed annuities (RILAs) by the end of June. Several months ago, the SEC...more

Latham & Watkins LLP

Key Takeaways From SEC’s First “Off-Channel Communications” Settlement With Stand-Alone Registered Investment Adviser

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The SEC’s enforcement action sends a clear message that the Commission intends to enforce “off-channel communication” violations against private fund advisers that are not affiliated with a broker-dealer....more

Ogletree, Deakins, Nash, Smoak & Stewart,...

SEC, Federal Regulators Target Employees’ Use of Text Messages, Off-Channel Communications

The U.S. Securities and Exchange Commission (SEC) and other financial regulators are targeting regulated entities over their employees’ use of personal messaging apps and other off-channel electronic communication platforms,...more

Katten Muchin Rosenman LLP

Financial Markets and Funds Quick Take | Issue 24

Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more

Dechert LLP

Recent New York Legislation Highlights Tension Between Employee Privacy and Regulatory Compliance for Broker-Dealers and Advisers

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As of today, March 12, 2024, a New York state statute, in certain circumstances, restricts employers “from requesting or requiring that an employee or applicant disclose any . . . means for accessing a personal account...more

Katten Muchin Rosenman LLP

The Lesson of Prometheus – A Special Purpose Broker Dealer May Cause Havoc in TradFi by Unilaterally Declaring ETH To Be A...

As referenced in the opening scene of the 2023 Oscar-winning film Oppenheimer, Prometheus, the Greek god of forethought, is best known for stealing fire from the gods to give to humanity. As punishment, Zeus had Prometheus...more

Guidepost Solutions LLC

Emerging Expectations from the Latest Enforcement Actions Over Off-Channel Communications

Since December 2021, the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) have levied almost $3.0 billion in penalties for longstanding failures by 39 broker-dealers, swap dealers,...more

Skadden, Arps, Slate, Meagher & Flom LLP

Fifth Circuit Reverses CFTC Penalty Judgment Under ‘Fair Notice’ Doctrine

On January 8, 2024, in a decision that underscores the potential viability of fair-notice defenses to U.S. regulators’ rule interpretations, the U.S. Court of Appeals for the Fifth Circuit reversed a $6.5 million penalty...more

Katten Muchin Rosenman LLP

SEC Regulatory Update: Fall 2023 Rulemaking Agenda Published

The Office of Information and Regulatory Affairs recently released the semi-annual, Fall 2023 regulatory agenda (“Agenda”). The Agenda outlines the SEC Chairman’s rulemaking priorities over the next 12 months. The Agenda...more

Dorsey & Whitney LLP

2024 Private Funds Regulatory Compliance Calendar

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Dorsey’s 2024 Private Funds Compliance Calendar addresses certain key regulatory obligations that may apply to private funds and private fund advisers. The 2024 Private Funds Regulatory Compliance Calendar (“Calendar”)...more

Katten Muchin Rosenman LLP

Financial Markets and Funds Quick Take | Issue 20

Katten's Financial Markets and Funds Quick Take is a monthly newsletter highlighting key noteworthy developments potentially affecting financial markets and funds....more

Bracewell LLP

Personal Devices and Messaging Platforms in the Workplace: Tips, Tactics and Best Practices for In-House Counsel

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Federal regulators have cracked down on the use of texts messages and messaging platforms for business communications, using their broad authority to root out record retention violations, resulting in significant fines and...more

Akin Gump Strauss Hauer & Feld LLP

The Latest Settlements in the SEC’s 'Off-Channel' Communications Sweep: What This Means and What’s Next

Key Points - Last week, the SEC announced settlements with 10 broker-dealers and affiliated investment advisers in connection with their failures to maintain and preserve electronic “off-channel” communications....more

Carlton Fields

Regulators Hit Jackpot: Off-Channel Communications

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Several years before announcing the first “off-channel” communications enforcement action, the SEC and FINRA cautioned broker-dealers and investment advisers about problematic record-keeping practices involving the use of...more

Davis Wright Tremaine LLP

Broker Dealer Regulatory Digest - September 2023

Editor's Note - The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency,...more

Thomas Fox - Compliance Evangelist

Messaging App Compliance in Regulated Industries: Lessons from Recent Enforcement Actions

In recent years, regulated industries, particularly broker dealer firms like Wells Fargo and Morgan Stanley, have faced increased scrutiny from regulatory bodies due to their lack of compliance in policing messaging apps. The...more

Davis Wright Tremaine LLP

Broker Dealer Regulatory Digest - August 2023

The following newsletter provides a roundup summarizing enforcement actions, guidance, rulemakings, and other public statements taken by a federal and/or state financial services regulatory agency, specifically focusing on:...more

Seward & Kissel LLP

SEC Charges 11 Firms with Widespread Recordkeeping Failures

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Who may be interested: Registered Investment Advisers, Broker-Dealers, Registered Investment Companies, Boards of Directors - Quick Take: The SEC recently settled charges against ten broker-dealers and one dually...more

Morrison & Foerster LLP

Marketing Private Funds to U.S. Investors — A Practical Guide for Asia-Based Managers

As the private equity (“PE”) and venture capital (“VC”) funds industry grows and matures in Asia, managers are increasingly looking to market interests in their funds to U.S.-based investors. However, many Asia-based managers...more

Sheppard Mullin Richter & Hampton LLP

SEC Off-Channel Communications Sweep

Over the last several years, the Securities and Exchange Commission (the “SEC”) and the Commodities Futures Trading Commission (“CFTC”) have been laser-focused on the use of so called “off-channel communications” in the...more

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