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
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
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
In a move that has rippled through the securities industry, Charles Schwab has retracted their waiver of rights by clients of class-action lawsuits stipulated in their account agreements. Schwab explained that it would be revising the agreements to reflect this … Read More
A recent petition on the Securities and Exchange Commission (SEC) website has begun to bring light to a move by advocacy groups and others to force disclosures of corporate political campaign funds. Proponents seek the adoption of a rule by … Read More
Last, but not least, another rule that firms should be aware of is NASD Conduct Rule 3060. This rule prohibits firms from giving any gift or gratuity in excess of $100 per year to any person where such payment is … Read More
Another rule that firms must be mindful of in monitoring is the SEC’s, Pay-to-Play Rule. The Rule is designed to prevent investment advisers (IAs) from obtaining governmental business, through direct or indirect campaign contributions made by certain high-level employees to … Read More
