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
Streamlined Branch Office Registration Passed for Florida Broker-Dealers and Advisers
Branch office registration for broker-dealers and advisers hoping to open a branch office in Florida has just gotten easier, thanks to a new Florida state measure. On June 14, 2013, Governor Rick Scott passed a law to allow branch office … Read More
Changes to New Form 13F to Be Posted End of May
A new online version of Form 13F is scheduled to be made accessible on the Security and Exchange Commission (SEC) Electronic Data Gathering, Analysis, and Retrieval (EDGAR) filing website on Monday, May 20, 2013. Form 13F, also known as the … Read More
Public Reporting of Swap Transactions and Swap Dealer Registration Began December 31, 2012
On December 31, 2012, registered swap dealers (SDs) and designated contract markets (DCMs) began reporting swap transaction and pricing data to registered swap data repositories (SDRs). The reporting deadline has been divided between different asset classes. Effective December 31, 2012, … Read More
The Importance of ADV Disclosures and Following Internal Controls
On October 29, 2012, the Securities and Exchange Commission (“SEC”) accepted an Offer of Settlement with Tilden Loucks & Woodnorth, LLC (“Tilden”) for the firm’s alleged violations of the Investment Advisers Act of 1940 for not seeking best execution for … Read More
Will You Need to Register as a “CTA” in the New Year?
On February 9, 2012, the Commodity Futures Trading Commission (“CFTC”) issued “Final Rules” rescinding or amending certain exclusions and exemptions to registration as a commodity trading advisor (“CTA”); as well as expanding the definition of who is a CTA. Some … Read More
CFTC’s final rule regarding de minimis exemption from registration
On February 8, 2012, the Commodity Futures Trading Commission (“CFTC” or “Commission”) put forth final regulations repealing the popular exemption from registration for private fund managers under CFTC Regulation 4.13(a)(4) (exemption for commodity pool operator) and 4.13(a)(8) (exemption for commodity … Read More
JOBS Act Changes the Playing Field for Private Funds: General Solicitation Now Permitted
The Jumpstart Our Business Startups Act (the “JOBS Act”), which was signed into law by President Obama on April 5, 2012, ushers in significant changes to many of the federal securities laws. In addition to lowering the costs associated with … Read More
SEC Provides Relief from Registration for Certain Advisers
On January 18, 2012, the staff of the Investment Management Division of the SEC issued a No-Action Letter (the “ABA Letter”) providing relief from registration for certain advisers that are affiliated with a registered adviser, subject to certain conditions. Significantly, … Read More