On Tuesday, February 6, 2024, the United States Securities and Exchange Commission promulgated final rules relating to changing the definition of dealer pursuant to the Securities Exchange Act of 1934.
Continue Reading The Dealerization of America by the SECBroker-Dealer Registration
The ‘New’ M&A Broker-Dealer Exemption Alert
Please take a look at our new alert on the recently enacted M&A BD Exemption. Ernest E. Badway – The ‘New’ M&A Broker-Dealer Exemption (foxrothschild.com).
Continue Reading The ‘New’ M&A Broker-Dealer Exemption AlertUpdated 2023– Who Does What: Broker Dealers | Registered Investment Advisers | Commodities/Futures Entities
Here is our updated “Who Does What…. ” publication. Ernest E. Badway – Who Does What: Broker Dealers | Registered Investment Advisers | Commodities/Futures Entities – Updated 2023 (foxrothschild.com)
… Continue Reading Updated 2023– Who Does What: Broker Dealers | Registered Investment Advisers | Commodities/Futures EntitiesSEC Moves in a Very Different Direction on Finders
In a stark 3-2 vote along political lines, the SEC announced today that it was proposing new rules relating to finders. Essentially, if the proposed rules are, ultimately, approved, the…
Continue Reading SEC Moves in a Very Different Direction on Finders
TRANSACTION-BASED COMPENSATION REQUIRES REGISTRATION . . . PERIOD
FINRA’s National Adjudicatory Counsel (“NAC”), recently, affirmed a disciplinary panel decision significantly sanctioning a broker-dealer for paying unregistered persons and entities. See https://www.finra.org/sites/default/files/2020-07/NAC_2014042606902_Silver-Leaf_062920.pdf.
FINRA alleged, among other things, that a…
Continue Reading TRANSACTION-BASED COMPENSATION REQUIRES REGISTRATION . . . PERIOD
“A Rose by Any Other Name Would Smell as Sweet,” Not So for BDs and Advisors
Although we are certain that Shakespeare never had to deal with the vagaries of Regulation BI, we do, and, in a series of questions relating to Regulation BI, the SEC…
Continue Reading “A Rose by Any Other Name Would Smell as Sweet,” Not So for BDs and Advisors
Fox Rothschild’s Securities Industry Group Members Ernie Badway and Alex Kerzhner Publish Alert on NYSAG’s Pandemic Rule-Making on Finders and Business Brokers
YOU SHOULD ALWAYS USE YOUR FRIENDLY NEIGHBORHOOD BROKER-DEALER!
Recently, a REIT sought to avoid using a broker-dealer in a distribution. Woe, onto those who seek to avoid the broker-dealer, especially when it leads to a SEC investigation and …
Continue Reading YOU SHOULD ALWAYS USE YOUR FRIENDLY NEIGHBORHOOD BROKER-DEALER!
Let’s Not Get Too Excited with FINRA’s Proposal on Re-Taking Exams
Most brokers despise the fact that they need to re-take their examinations if they are not employed with a broker-dealer for 2 years or if they are not associated with…
Continue Reading Let’s Not Get Too Excited with FINRA’s Proposal on Re-Taking Exams
If You Want Trouble, Do Not Register as a Broker-Dealer
At Fox Rothschild, we are constantly advising clients regarding the peril of engaging in the securities industry without the proper license. In fact, we have developed materials to provide our…
Continue Reading If You Want Trouble, Do Not Register as a Broker-Dealer