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

Compliance Newsflash – May 29, 2019

May 29, 2019

NASAA, SEC and FINRA Issue Senior Safe Act Fact Sheet to Help Promote Greater Reporting of Suspected Senior Financial Exploitation On May 23, 2019, FINRA announced that in recognition of the one-year anniversary of the passage of The Senior Safe Act, … read more

Compliance Newsflash – May 22, 2019

May 22, 2019

According to the DOJ & OFAC, Compliance Functions Should Actually Work, not Just Exist On May 16, 2019, JD Supra stated look around, corporate ethics and compliance officers. We’re suddenly peppered with new signals from the regulatory world about the … read more

Compliance Newsflash – May 15, 2019

May 15, 2019

Concerns About Pay-to-Play Violations Amplify As 2020 Giving Ramps Up  On May 1, 2019, Ropes & Gray reported that as the 2020 Democratic presidential primary election field develops and new candidates join the race, more and more individuals are donating … read more

Compliance Newsflash – May 8, 2019

May 8, 2019

SEC Issues Guidance On Issuance of Digital Assets On April 8, 2019, Reed Smith reported that the U.S. Securities and Exchange Commission (SEC) took a first step toward providing greater clarity on the key question of how to evaluate whether … read more

Compliance Newsflash – May 1, 2019

May 1, 2019

FINRA Forms Office of Financial Innovation, Announces Haimera Workie as Head On April 24, 2019, FINRA announced the formation of an Office of Financial Innovation that will serve as a central point of coordination for issues related to significant financial … read more

Compliance Newsflash – April 24, 2019

April 24, 2019

SEC, FINRA Plan Compliance Outreach Seminar for BDs On April 17, 2019, ThinkAdvisor reported that the Securities and Exchange Commission and Financial Industry Regulatory Authority plan to hold their 2019 National Compliance Outreach Program for Broker-Dealers on June 27 in Chicago.  The program, … read more

Compliance Newsflash – April 17, 2019

April 17, 2019

FINRA Clarifies How BDs Should Handle Departing Rep Information On April 15, 2019, ThinkAdvisor reported  that broker-dealers must “promptly and clearly” communicate a registered rep’s departure to clients – including the departing rep’s contact information – and provide “timely and … read more

Compliance Newsflash – April 10, 2019

April 11, 2019

SEC Open to Modern Communications by Advisers On April 5, 2019, JD Supra announced that the increasingly widespread use and acceptance of various types of online communications have made it more attractive – for both firms and clients – to … read more

Compliance Newsflash – April 3, 2019

April 3, 2019

Following Reg BI, FINRA may cut suitability rule On March 27, 2019, Pensions&Investments reported that when the Securities and Exchange Commission finalizes its standards-of-conduct package, the Financial Industry Regulatory Authority will re-examine its suitability rule for broker-dealers, Robert Colby, chief legal … read more

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