Compliance Newsflash –August 21, 2019

August 21, 2019

Insurgent Chris Flint wins contested Finra election for big-firm board seat On August 19, 2019, InvestmentNews reported that In a contested election for a large-firm seat on the board of the Financial Industry Regulatory Authority Inc., insurgent candidate Chris W. Flint … read more

Compliance Newsflash –August 14, 2019

August 15, 2019

FINRA Pledges Resources to Support Members’ SEC Reg BI Compliance On August 9, 2019, Plan Advisor reported that FINRA has issued a regulatory notice to its members to remind them of the Securities and Exchange Commission’s (SEC) adoption of Regulation … read more

Compliance Newsflash –August 7, 2019

August 8, 2019

SEC Chairman Clayton Announces Event for Main Street Investors in Chicago On August 5, 2019, Securities and Exchange Commission Chairman Jay Clayton announced an event for Main Street investors to be held in Chicago on Thursday, August 15. Chairman Clayton … read more

Compliance Newsflash – July 31, 2019

August 1, 2019

SEC warns RIAs to increase supervision of staff with disciplinary histories On July 23, 2019, InvestmentNews reported that the Securities and Exchange Commission warned registered investment advisers Tuesday to step up their supervision of staff who have disciplinary histories. The … read more

Compliance Newsflash – July 17, 2019

July 17, 2019

SEC and NASAA Explain Application of Securities Laws to Opportunity Zone Investments On July 15, 2019, the Securities and Exchange Commission and the North American Securities Administrators Association (NASAA) issued a summary that explains the application of the federal and … read more

Compliance Newsflash – July 10, 2019

July 10, 2019

Regulation Best Interest and the Investment Adviser Fiduciary Duty: Two Strong Standards that Protect and Provide Choice for Main Street Investors On July 8, 2019, SEC  Chairman Jay Clayton stated, “As many of you know, in June, the Securities and … read more

Compliance Newsflash – July 3, 2019

July 5, 2019

SEC Reg BI Involves ‘Massive Implementation’ Process: Peirce On June 27, 2019, ThinkAdvisor reported that SEC Commissioner Hester Peirce warned broker-dealer executives Thursday to brace for a “massive implementation” process for Regulation Best Interest, and urged attendees to alert the … read more

Compliance Newsflash – June 26, 2019

June 28, 2019

SEC Adopts Regulation Best Interest and Issues Interpretive Release on the “Solely Incidental” Exclusion  On June 21, 2019, Ropes & Gray reported that on June 5, 2019, the U.S. Securities and Exchange Commission (SEC), adopted two rules and published two interpretations … read more

Compliance Newsflash – June 19, 2019

June 19, 2019

SEC Adopts Regulation Best Interest and Form CRS; Issues Investment Advisers Act Interpretations On June 13, 2019, Sidley reported that on June 5, 2019, the U.S. Securities and Exchange Commission (SEC), by a 3-1 vote, adopted two rules and two … read more

Compliance Newsflash – June 6, 2019

June 6, 2019

Safeguarding Customer Records and Information in Network Storage –  Use of Third Party Security Features  On May 23, 2019, the Securities and Exchange Commission’s (SEC) reported that during recent examinations, the Office of Compliance Inspections and Examinations (“OCIE”)∗ identified security … read more

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