Our client alert discusses the SEC Division of Examinations risk alert summarizing observations from exams of registered investment advisers and broker-dealers related to compliance with Reg. S-ID, which is generally designed to protect and prevent retail customers from identity theft
Financial
SEC “Gift” to the Industry: Four Market Structure Proposals, 3-2 Votes (In Part), but No Partridge in a Pear Tree
Our client alert discuss recent SEC rulemakings covering proposed new “Regulation Best Execution” (new Exchange Act Rules 1100, 1101, and 1102 establishing a best execution standard and requiring robust policies and procedures for firms engaging in certain conflicted transactions with retail…
FINRA Reminds Firms of Trusted Contact Person Requirement, Benefits, and Related Effective Practices
Our client alert discuss FINRA Regulatory Notice 22-31 reminding members of their regulatory obligations under Rule 4512 with respect to “Trusted Contact Persons” or “TCPs,” explaining the benefits of designating TCPs, and providing resources to educate customers about the role…
Broker-Dealer Compliance With Revamped Recordkeeping Requirements Begins May 3, 2023; FINRA Publishes Chart of “Most Significant Changes”
Our client alert discuss the recent SEC amendments to Exchange Act Rule 17a-4 adopting new recordkeeping requirements for broker-dealers. Most notably, the SEC will no longer require broker-dealers to maintain records in “write once, read many” or “WORM” format. Instead, broker-dealers…
FINRA 2023 Examination and Risk Monitoring Report Highlights Numerous Risk Areas for Brokers
Our client alert discusses FINRA’s 2023 Report on its Examination and Risk Monitoring Program, which serves as a resource for firms to use to bolster their compliance programs and provides a roadmap of FINRA’s main areas of examination for 2023.…
SEC EXAMS Division Publishes Reg. BI Risk Alert
Our client alert discusses the deficiencies the staff identified during examinations and provides examples of weak practices observed at firms. EXAMS staff intends for the alert to assist broker-dealers in reviewing and enhancing their Regulation Best Interest compliance programs. The…
The Texas Supreme Court Affirms A Summary Judgment For A Fiduciary Defendant Based On The Statute Of Limitations And The Duty To Use Reasonable Diligence To Discover Claims
Labor Supply Disruption Contributes to Recently Filed Securities Suit

In my recent round-up of the top D&O stories of 2022, one of the stories I identified was the contribution of macroeconomic factors to the filings of securities class action lawsuits during the year. Among the macroeconomic factors I identified,…
New York Finalizes Commercial Lending Disclosure Regulations
EBA publishes speech by Jose Manuel Campa at the AFORE’s 7th annual conference on fintech and regulation
On 8 February 2023, the European Banking Authority (EBA) published the keynote speech by Jose Manuel Campa at the AFORE’s 7th annual conference on fintech and regulation.
In his speech, Mr Campa acknowledges the progress made, such as the Digital…