Compliance Newsflash – April 19, 2017

April 20, 2017

DLA is committed to keeping our clients and friends updated on relevant news and topics in the industry by distributing a weekly Compliance Newsflash. We hope this provides you with helpful and insightful information for you and your firm! Join our mailing list by clicking here: DLA Newsflash Registration.

Trump Nominates Regulatory Chief
On April 7, 2017, The Hill announced that President Trump appointed a new regulatory czar Friday. Neomi Rao, an associate law professor at George Mason University, was nominated to run the White House’s Office of Information and Regulatory Affairs (OIRA). OIRA will play a central role in Trump’s regulatory reform agenda. This obscure agency, which is buried inside the White House’s Office of Management and Budget (OMB), reviews regulations from federal agencies and has the power to reject rules that do not fall in line with the president’s goals.
To read the full article, click here.

FINRA Requests Comment on Rules Impacting Capital Formation
On April 12, 2017, FINRA requested comment on its rules governing the participation of its member firms in capital raising, as part of a continuing effort to modernize its regulation of those activities while maintaining important protections for investors. The request, part of the FINRA360 initiative, is one of three regulatory notices FINRA issued today related to the capital formation process, with the others seeking comment on proposed amendments to rules for underwriting arrangements and a proposed safe harbor from equity and debt research rules for desk commentary. All three proposals seek to clarify the requirements for FINRA member firms engaged in the capital formation process.
For more information, click here.