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Regulatory Standards Financial Industry Regulatory Authority (FINRA)

Latham & Watkins LLP

FINRA Sets Up Shop in the Metaverse

Latham & Watkins LLP on

On October 24, 2024, the Office of Financial Innovation (OFI) of the Financial Industry Regulatory Authority, Inc. (FINRA) published “The Metaverse and the Implications for the Securities Industry” (the Report)....more

A&O Shearman

Zooming In on AI - #6: AI under financial regulations in the U.S., EU and U.K.

A&O Shearman on

Many governments are grappling with the question of how to regulate artificial intelligence to ensure it is adopted safely and used responsibly without hampering innovation. Governments have generally indicated similar...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

Davis Wright Tremaine LLP

Broker Dealer Regulatory Digest - March 2024 - 2

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

Davis Wright Tremaine LLP

Banking and Consumer Regulatory Digest - March 2024 - 2

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

Davis Wright Tremaine LLP

Broker Dealer Regulatory Digest - March 2024

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, specifically...more

K&L Gates LLP

US Asset Management Regulatory Year in Review 2023

K&L Gates LLP on

It is a dramatic understatement to describe 2023 as a busy year in the United States for asset management regulation. With 24 rules adopted and 18 new rules or rule amendments proposed, the US Securities and Exchange...more

Bressler, Amery & Ross, P.C.

State Regulation of Annuity Suitability and the Best Interests

Suitability in the sale of annuity products has been a topic of state regulation since at least 2003 - well before the federal focus on “Best Interest.” State insurance regulators have overseen the sale of annuities to ensure...more

Oberheiden P.C.

Promoters, Endorsers, and Brokers: Understanding the Rules on Securities and Cryptocurrency Investment Advertising

Oberheiden P.C. on

Promoting securities, cryptocurrency, and other investment opportunities is fraught with legal risks. Individuals who engage in promotional activities must ensure that they have a clear understanding of the federal laws and...more

Bilzin Sumberg

Crypto Companies, Investors Await Looming Regulations and Litigation Resolutions

Bilzin Sumberg on

A staggering decline in value is not the only recent source of significant concern for cryptocurrency companies. In remarks made at the annual meeting of the Financial Industry Regulatory Authority (FINRA) earlier this month,...more

Dechert LLP

Supervisory Liability for CCOs Under FINRA Rule 3110

Dechert LLP on

The Financial Industry Regulatory Authority issued a regulatory notice clarifying the scope of supervisory liability under FINRA Rule 3110 of a broker-dealer’s chief compliance officer (CCO) (Regulatory Notice). FINRA’s Head...more

Carlton Fields

Seniors in the Coming Year

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Continued FINRA Focus - If regulatory developments in 2020 are any indication, FINRA’s efforts to protect senior customers from financial exploitation and vulnerability will continue in 2021 and beyond....more

Burr & Forman

FINRA and UTMA/UTGA Accounts: Know Your Customer, and Continue to Monitor

Burr & Forman on

Firms permitting the creation and operation of custodial accounts related to Uniform Transfers to Minors Act (UTMA) or Uniform Gifts to Minors Act (UGMA) transactions must take special notice of Financial Industry Regulatory...more

Latham & Watkins LLP

2019 Digital Asset Regulatory Look Back (US Edition)

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It was a year filled with tantalizing tidbits and many loose ends. 2019 marked the 10th year since blockchain technology was released into the wild by its still unknown inventor, Satoshi Nakamoto, who mined the first bitcoin...more

Mayer Brown Free Writings + Perspectives

Report on 2019 SEC Government-Business Forum on Small Business Capital Formation Released

The Securities and Exchange Commission released the report from the August 2019 Government-Business Forum on Small Business Capital Formation. The Annual Forum provides an opportunity for market participants to meet and...more

Polsinelli

FINRA and SEC Issue Joint Statement on Security Token and Custody Rules

Polsinelli on

On July 8, 2019, the staff of the U.S. Securities and Exchange Commission (“SEC”) Division of Trading and Markets and the staff of the Financial Industry Regulatory Authority (“FINRA”) issued a joint statement outlining...more

Orrick - On the Chain

SEC/FINRA Joint Statement on Digital Asset Securities Does Not Address Regulatory Log Jam

Orrick - On the Chain on

Last week, the Staffs of the Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) (collectively, the Staffs) released a Joint Statement concerning the application of the SEC’s...more

Seyfarth Shaw LLP

SEC Imposes New Standard for Broker-Dealer Investment Advice

Seyfarth Shaw LLP on

On June 5, 2019, the Securities and Exchange Commission (“SEC”) voted to adopt “Regulation Best Interest,” which is intended to increase the duties a broker-dealer owes to its clients. While SEC-registered investment advisors...more

Eversheds Sutherland (US) LLP

The best interest standard under FINRA’s suitability rule

In connection with the US Securities and Exchange Commission’s (SEC) proposed Regulation Best Interest, the Financial Industry Regulatory Authority (FINRA) has asserted (with some case law support from the SEC) that its...more

Mayer Brown Free Writings + Perspectives

NYSE Proposes Change to the Definition of “Membership Organization” under Rule 2

The New York Stock Exchange LLC (“NYSE”) proposes to amend Rule 2 to remove the FINRA or other national securities exchange membership requirement for member organizations. ...more

Carlton Fields

FINRA Moves Toward SEC Anti-Churning Proposal

Carlton Fields on

On April 18, the SEC voted to propose major rule changes to reconcile and clarify the standards of conduct that apply to broker-dealers and investment advisers. ...more

Burr & Forman

FINRA Proposes to Remove "Control" as Quantitative Suitability Requirement

Burr & Forman on

FINRA recently proposed to remove the broker’s “control” of a securities account as a required element of a “quantitative suitability” violation under Rule 2111....more

Carlton Fields

FINRA Requires Order Taker Registration

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In late 2017, FINRA pronounced in Regulatory Notice 17-30 that, "Beginning on October 1, 2018, unregistered persons cannot accept an order from a customer under any circumstances. ...more

Burr & Forman

FINRA 2018 Priorities Letter Released

Burr & Forman on

FINRA recently published its 2018 Annual Regulatory and Examination Priorities Letter, which identifies opportunities for firms to improve their compliance, supervisory and risk management policies or programs. ...more

Carlton Fields

New Model Regulation Gives Insurers Little To Be Thankful For

Carlton Fields on

On November 24, while everyone was recuperating from their Thanksgiving feast, the NAIC's Annuity Suitability Working Group circulated the Working Group Chair's draft of proposed revisions to the Suitability in Annuity...more

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