News & Analysis as of

Department of Financial Protection and Innovation (DFPI) Broker-Dealer

Allen Matkins

Selling Unqualified Securities?  There's Are/Were Apps For That

Allen Matkins on

If someone told my younger self that someday people would take photographs with their phones, I would have wondered where you would insert the film.*  Today, the question would be "What is film?"  When I headed the Department...more

Allen Matkins

DFPI Posts Annual B-D/IA Report To The Legislature

Allen Matkins on

The California Department of Financial Protection & Innovation recently posted its 2023 Annual Report to the Legislature regarding its broker-dealer and investment adviser programs.  The report's title is a bit of a misnomer...more

Allen Matkins

CFL Licensees Beware The Ides Of March

Allen Matkins on

Lenders and brokers licensed under the California Finance Lenders Law must file an annual report by the Ides of March (i.e., March 15) of each year.  Cal. Fin. Code § 22159.  This is a hard deadline and the Department of...more

Allen Matkins

DFPI Issues Numerous Detailed Warnings Of Possible Cryptocurrency Broker Frauds

Allen Matkins on

Shortly after Christmas, the California Department of Financial Protection & Innovation began issuing consumer alerts with respect to possible cryptocurrency broker frauds.  These alerts generally involved alleged "Advance...more

Seward & Kissel LLP

Proposed CA Crypto Regulatory Scheme Would Require Licenses, Disclosures for Digital Asset Businesses

Seward & Kissel LLP on

A bill approved by the California State Assembly and pending in the state senate would require businesses in the cryptocurrency industry to obtain licenses from the state’s Department of Financial Innovation and Protection...more

Allen Matkins

DFPI BDIA Examinations Continue To Decline

Allen Matkins on

The California Department of Financial Protection & Innovation's Broker-Dealer/Investment Adviser (BDIA) program licenses and regulates investment advisers, investment adviser representatives, broker-dealers, and...more

Allen Matkins

A New Year Has Begun, Time To Get Started On Last Year's Annual Report

Allen Matkins on

Ladies and Gentlemen, Start Gathering Your Data! If you are a licensee under the California Financing Law, you are required to submit an annual report to the Department of Financial Protection & Innovation no later than...more

Allen Matkins

New Laws For A New Year

Allen Matkins on

California's Department of Financial Protection & Innovation has complied this summary of new laws that affect or may otherwise be of interest to persons licensed by the department.  In general, these laws will take effect on...more

Allen Matkins

Why CFL Licensed Lenders Must Submit New License Applications By Year End

Allen Matkins on

Several thousand lenders and brokers are currently licensed by the Department of Financial Protection & Innovation under the California Financing Law.   The CFL generally requires that persons engaged in the business of...more

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