The controller has been passed to a new team of players in Washington. New players prefer to hit the reset button and start a new game, not pick up where the prior player left off. We know how our new players like to play the game. They want to control every aspect of the game
SEC
SEC Not Only Reverses FINRA Disciplinary Action, But Provides Blueprint For Respondents To Use In Their Defense Of Similar Claims
By Alan Wolper on
My friend and former colleague, Brian Rubin, publishes annually his analysis of FINRA Enforcement cases, spotting trends in terms of the number and types of matters it brings, the sanctions meted out, etc. It is an excellent tool, and eagerly anticipated by lots of us who practice in this industry. One of the hard parts…
SEC 2021 Exam Priorities
By Heidi VonderHeide on
Thanks to Heidi for today’s post. – Alan
Today, the SEC put out its 2021 Exam Priorities, available here. It is about 40 pages long and covers a lot of topics. While I encourage everyone to read through the document, here are the primary focus items for 2021:
Overarching Themes / Focal Points:
- Regulation
…
Trends In Market Manipulation
By Blaine Doyle on
Thanks to Blaine for not only attending this panel session, but for summarizing it for us! – Alan
Recently, the Roaring Kitty (aka Keith Gill) and his brethren made headlines with their trading (most notably in GameStop) and the impact it had on certain hedge funds and banks. The interest on this saga seems to…
The SEC’s New Marketing Rule: Bringing Investment Adviser Advertising From The “Mad Men” Era To The Amazon Age
By Alan Wolper on
Posted in Advertising, SEC
Happy Holidays, everyone! Since you’re all just sitting home with plenty of time on your hands, it is the perfect opportunity to enjoy this post from my colleague Denise Fesdjian, about the SEC’s new marketing rule for RIAs. – Alan
“The SEC score(s) one for the digital age.” These are the words of SEC Commissioner…
Let’s Hear It For CCOs; After All, They Are Human People
By Alan Wolper on
We have frequently blogged here about the degree of attention that regulators pay to Chief Compliance Officers, and whether it is proper that they sometimes are named individually in Enforcement actions. And we are hardly the only ones who see this issue. The New York City Bar back in February – I know, that seems…
SEC’s Reg BI Roundtable Round-up
By Heidi VonderHeide on
On October 26, the SEC hosted a roundtable discussion during which the SEC and FINRA shared some of their observations about how firms are doing implementing Regulation Best Interest. If you missed the live presentation, it was recorded and is available here.
The discussion covered a lot of topics and, in some instances, simply…
Securities Regulators In The Age Of Covid-19
By Blaine Doyle on
Thanks to Blaine not only for attending this conference, but for actually listening, so he could share with you the insights he gleaned from the local securities regulators here in Chicago. – Alan
While much of the broker-dealer world has been trying to figure out how to protect the financial welfare of their customers, in…
OCIE Offers Reg BI Examination “Study Guides” (But Not An Extension)
By Heidi VonderHeide on
Heidi is my go-to destination for all things Reg BI. Here’s a quick, but really helpful, update from her. – Alan
This week OCIE issued twin alerts relating to the upcoming implementation of Reg BI. A lot of the statements are nothing new – brief repetitions of the Regulation, the four obligations, etc. None…
If Covid-19 Wasn’t Bad Enough, Just Wait For The Arbitrations
By Alan Wolper on
Forced to sit at home under government-ordered decree, and having finished binge-watching Season 3 of Ozark and Season 4 of Money Heist on Netflix, what’s left to do except prey upon scared investors – particularly seniors – who have been watching the markets not so much fly as plummet? With (perhaps) that very thought…