Our client alert discusses the two important upcoming SEC rulemakings concerning the regulation of security-based swaps.
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SEC Examinations Division Publishes 2023 Priorities Letter
Our client alert discusses the SEC Division of Examinations list of priorities for 2023, which provides a roadmap for firms to better understand where the Division will take its examination efforts over the coming months.
The post SEC Examinations Division Publishes 2023 Priorities Letter appeared first on FinReg & Policy Watch.
SEC EXAMS Division Publishes Reg. BI Risk Alert
Our client alert discusses the deficiencies the staff identified during examinations and provides examples of weak practices observed at firms. EXAMS staff intends for the alert to assist broker-dealers in reviewing and enhancing their Regulation Best Interest compliance programs. The alert also serves as a useful roadmap of the direction in which the staff will…
FINRA 2023 Examination and Risk Monitoring Report Highlights Numerous Risk Areas for Brokers
Our client alert discusses FINRA’s 2023 Report on its Examination and Risk Monitoring Program, which serves as a resource for firms to use to bolster their compliance programs and provides a roadmap of FINRA’s main areas of examination for 2023.
The post FINRA 2023 Examination and Risk Monitoring Report Highlights Numerous Risk Areas for Brokers…
Broker-Dealer Compliance With Revamped Recordkeeping Requirements Begins May 3, 2023; FINRA Publishes Chart of “Most Significant Changes”
Our client alert discuss the recent SEC amendments to Exchange Act Rule 17a-4 adopting new recordkeeping requirements for broker-dealers. Most notably, the SEC will no longer require broker-dealers to maintain records in “write once, read many” or “WORM” format. Instead, broker-dealers have the option of utilizing a new “audit trail” alternative for their electronic recordkeeping systems.…
FINRA Reminds Firms of Trusted Contact Person Requirement, Benefits, and Related Effective Practices
Our client alert discuss FINRA Regulatory Notice 22-31 reminding members of their regulatory obligations under Rule 4512 with respect to “Trusted Contact Persons” or “TCPs,” explaining the benefits of designating TCPs, and providing resources to educate customers about the role and value of TCPs. Perhaps the most significant section of the notice is the non-exhaustive…
SEC “Gift” to the Industry: Four Market Structure Proposals, 3-2 Votes (In Part), but No Partridge in a Pear Tree
Our client alert discuss recent SEC rulemakings covering proposed new “Regulation Best Execution” (new Exchange Act Rules 1100, 1101, and 1102 establishing a best execution standard and requiring robust policies and procedures for firms engaging in certain conflicted transactions with retail customers); a proposed new “Order Competition Rule” (new Exchange Act Rule 616, including requiring certain retail equity…
SEC EXAMS Division Issues Reg. S-ID Risk Alert
Our client alert discusses the SEC Division of Examinations risk alert summarizing observations from exams of registered investment advisers and broker-dealers related to compliance with Reg. S-ID, which is generally designed to protect and prevent retail customers from identity theft and financial loss.
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New Federal M&A Broker Exemption is a Big Deal!
Our client alert discusses a new federal exemption from SEC registration for small business M&A brokers as new Exchange Act Section 15(b)(13).
The post New Federal M&A Broker Exemption is a Big Deal! appeared first on FinReg & Policy Watch.
SEC Regulatory Agenda Showcases 52 Proposed and Final Rules by Spring 2023
Our recent client alert discusses the SEC’s Fall 2022 “Reg Flex” agenda, which provides a glimpse into how the agency will prioritize its resources over the coming six months from a policy and rulemaking standpoint.
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