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
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
The Financial Industry Regulatory Authority, Inc. (FINRA) retracted a rule, proposed this year, requiring brokers to display a URL on their websites and on social media profiles linking directly to their background profiles on the online FINRA-based database BrokerCheck. BrokerCheck … Read More
Over the past couple of years, examiners with the Financial Industry Regulatory Authority, Inc. (“FINRA”) have focused on how broker-dealers sell nontraded real estate investment trusts (“REITs”). Specifically, Susan Axelrod who is the Executive Vice President of Member Regulation Sales … Read More
Rule 203(b) of Regulation SHO sets borrowing and delivery requirements for Short Sales. For example Regulation, SHO requires a market participant who seeks to effect a short sale to borrow, arrange to borrow, or have reasonable grounds to believe that … Read More
Rule 17a-5 under the Exchange Act requires broker-dealers to undergo an annual audit conducted by an independent public accountant and to file an annual report containing audited financial statements and certain supporting schedules with the SEC and the broker-dealer’s designated … Read More