Options Trading Risk Alert Released by SEC to Avert Evasions of Short-Sale Rule
The Securities and Exchange Commission (SEC)‘s Office of Compliance Inspections and Examinations (OCIE) recently published a Risk Alert that aims to combat market abuses that elude an SEC short-sale rule for options trading. The Alert, issued in the first week … Read More
SEC Passes New Broker-Dealer Amendments for Financial Responsibility
In last week’s Compliance blog posting, we discussed a series of new rules announced by the Securities and Exchange Commission (SEC) on July 31, 2013, that brought changes to compliance reporting requirements for broker-dealers (BDs). For this week, we will … Read More
SEC Passes New Broker-Dealer Rules for Compliance Reporting Requirements
On July 31, 2013, the world of broker-dealers (BDs) was taken on by the Securities and Exchange Commission (SEC) with the passage of a new rule and a set of new amendments affecting this financial sphere. While each of these … Read More
New Anti-Money Laundering (AML) Rules Aim to Target Independent Advisers
Anti-money laundering (AML) regulation – currently applying only to broker-dealers – may soon affect independent advisers under a new proposal being currently drafted by the Financial Crimes Enforcement Network (FinCEN). First set forth as a proposed rule in 2003 and … Read More
New Enforcement Initiatives by SEC Focus on Financial Reporting, MicroCap Fraud and Risk Analysis
At the beginning of July 2013, the Securities and Exchange Commission (SEC) announced the creation of three initiatives aimed at increasing the reach of the Commission’s Division of Enforcement and bringing greater strength to its investigative work. The first is … Read More
Core Compliance Risk Management Update Profile: Disaster Recovery and Business Continuity Plans
At the end of each month, Core Compliance & Legal Services, Inc. (“Core Compliance”) publishes a Risk Management Update (RMU), an in-depth article written by one of our staff members on a currently relevant topic in compliance, securities, and investment … Read More
Regulation D Advertising and General Solicitation Amendments Approved By SEC
A proposed alteration to Rule 506 under Regulation D of the Securities Act of 1933 permitting issuers, including private investment funds (e.g., hedge funds), to advertise to a broad investor public was approved on July 10 by the Securities and … Read More
SEC Approves Greater Disciplinary Record Disclosure by FINRA in Effort to Increase Transparency
A proposal by the Financial Industry Regulatory Authority, Inc. (FINRA) to increase the release of publically-available information about disciplined brokers has been approved by the Securities and Exchange Commission (SEC). The measure assures the release of copies of disciplinary complaints … Read More
SEC Desires to Hire Examiners, But Need for Many More is Greater
The Securities and Exchange Commission (SEC) is seeking greater institutional funding to be used towards staffing more examiners for investment advisers, but according to an industry source, the agency needs many more positions than they estimate to increase its reach. … Read More