On May 19, 2014, the Financial Industry Regulatory Authority’s (“FINRA’s”) Chairman and CEO Rick Ketchum made his opening remarks to the assembly of financial professionals at FINRA’s Annual Conference in Washington D.C. The centerpiece of Ketchum’s speech was “restoring trust … Read More
The Securities and Exchange Commission (SEC) rounded out a busy month of issuing enforcement actions by charging three investment advisory (IA) firms with violations of Section 206(4) and Rule 206(4)-2 of the Investment Advisers Act of 1940 (the “Custody Rule”). … Read More
Enforcement actions by the Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA), and other US regulatory bodies continue at a steady pace in the fourth quarter of 2013, as the SEC announced in late October that as part … Read More
In a recent enforcement case, the Securities and Exchange Commission (SEC) claimed that a Nebraska-based investment advisory firm, Manarin Investment Counsel Ltd., and its owner, Roland R. Manarin, breached a core fiduciary responsibility. The SEC investigation of Manarin found that … Read More
In yet another move to pass a series of regulations required under the 2010 Dodd-Frank Act, the Securities and Exchange Commission (SEC) recently adopted a rule mandating the permanent registration of municipal advisors with the agency. Shortly after the passage … Read More
As federal agencies work towards instituting more regulatory measures from the 2010 Dodd-Frank Act, the Securities and Exchange Commission (SEC) proposed a rule on September 18, 2013, mandated under Section 953(b) of the Act, which details new requirements for compensation … Read More
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
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
In an open meeting held on June 5th by the Securities and Exchange Commission (SEC), the SEC’s Chair, Mary Jo White, proposed a series of rules aiming to provide meaningful reform to the functional operations of money market funds. In … Read More