On March 10, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 21-09 announcing FINRA’s adoption of new rules to address brokers with a significant history of misconduct and the broker-dealers that employ them.
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Latest from Katten Muchin Rosenman - Page 11
FINRA Issues Guidance on Common Sales Charge Discounts and Waivers for Investment Company Products
By Susan Light
On March 4, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 21-07 (Notice) providing additional background and guidance on sales charge discounts and waivers for investment company products.…
FINRA Alerts Firms of Ongoing Phishing Campaign Involving “finra-online.com” Domain Name
By Susan Light
On March 4, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 21-08 (Notice) warning member firms of an ongoing fraudulent phishing campaign involving the domain name “finra-online.com.”…
FINRA Board of Governors Approves Soliciting Comments on Amendments to Borrowing and Lending Rule
By Susan Light
The Board of Governors of the Financial Industry Regulatory Authority (FINRA) met on March 3 and 4, when, among other actions, it approved the publication of proposed amendments to FINRA Rule 3240 (Borrowing From or Lending to Customers) for comment.…
NFA Proposes Compliance Rule 2-50 and Related Interpretive Notice
On March 5, the National Futures Association (NFA) submitted to the Commodity Futures Trading Commission (CFTC) proposed new Compliance Rule 2-50 and a related Interpretive Notice.…
FCA Publishes Consultation Paper on Regulating Bidding for Emission Allowances Under UK ETS
On March 8, the Financial Conduct Authority (FCA) published a consultation paper detailing its proposals to regulate bidding for emissions allowances on the UK auction platform under the UK Emissions Trading Scheme (ETS) (the Consultation Paper).…
FCA Announces Annual Transparency Calculations for Equity and Equity-Like Instruments
On March 9, the Financial Conduct Authority (FCA) announced its first, post-Brexit annual transparency calculations for UK equity and equity-like financial instruments in response to the UK Markets in Financial Instruments Regulation (the Press Release). The calculations will be available…
ECON Publishes Draft Report on Proposed Regulation on Markets in Cryptoassets
On March 9, the European Parliament’s Economic and Monetary Affairs Committee (ECON) published a draft report detailing recommendations to the European Commission on the proposed Regulation on markets in cryptoassets and amending Directive (EU) 2019/1937 (the Draft Report).…
European Commission Publishes Draft Delegated Act on FRANDT
On March 10, the European Commission (the Commission) published a draft delegated act detailing the obligation on clearing members and clients when providing clearing services under fair, reasonable, non-discriminatory and transparent (FRANDT) commercial terms (the Delegated Act).…
SEC Announces 2021 Examination Priorities
By Susan Light & Shelby Kost
On March 3, the Securities and Exchange Commission’s Division of Examinations announced its examination priorities for 2021. These priorities include a greater focus on climate-related risks, conflicts of interests for brokers and investment advisers, and attendant risks related to FinTech.…