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. See SEC.gov | SEC Adopts Rules to Include Certain Significant Market Participants as “Dealers” or “Government Securities Dealers”. This…Continue Reading The Dealerization of America by the SEC
We wanted everyone to know that access is now available to our updated Blue Sky…Continue Reading Updated 2023 Interactive Survey of State ‘Blue Sky’ Filing Requirements Facilitates Compliance
Hope you enjoy my article on the SEC’s dysfunctional relationship with defense lawyers. Ernest E.Continue Reading Why Does the SEC Whine so Much? The Sec’s Attack on Lawyers and a Way out of This Mess
We wanted to alert you to our updated 2023 National Survey on Restrictive Covenants. Ernest…Continue Reading Updated 2023–National Survey on Restrictive Covenants
On December 17, 2020, SEC created the Division of Examinations by renaming the now defunct, Office of Compliance Inspections and Examinations, making it the SEC’s 6th Division joining Enforcement, Corporation…Continue Reading New SEC Division Undertakes 2021 Examination Priorities
Fox Rothschild’s Securities Industry Group’s New Interactive Survey of State Blue Sky Filing Requirements Facilitates Rule 506, Regulation A+ Securities Compliance
Fox Rothschild’s Securities Industry Group is pleased to announce its publication of an interactive Survey of State Blue Sky Filing Requirements. SI Group members, A. Binford Minter and Jennifer M.Continue Reading Fox Rothschild’s Securities Industry Group’s New Interactive Survey of State Blue Sky Filing Requirements Facilitates Rule 506, Regulation A+ Securities Compliance
In December 2020, the New York State Attorney General altered its filing rules to align with those required by the SEC’s requirements for a Regulation D Rule 506 offering. Now…Continue Reading New Reg D Rule 506 Filing Rules for New York
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
Recently, the Office of Compliance Inspections and Examinations (“OCIE”) released an alert to broker-dealers and registered investment advisers regarding the risks associated with credential stuffing. See https://www.sec.gov/files/Risk%20Alert%20-%20Credential%20Compromise.pdf.
Credential stuffing is…Continue Reading The Dark Side Strikes Again: No, Not the SEC, Hackers and Credential Stuffing
The United States Securities and Exchange Commission (“SEC”) adopted amendments to the definitions of both accredited investor under Securities Act of 1933 (“Securities Act”) Regulation D Rule 501 and qualified…Continue Reading SEC Changes Accredited Investor and Qualified Institutional Buyer Definitions
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
The SEC’s Office of Compliance and Inspections (“OCIE”), recently, issued an alert—more like a shot across the bow—to BDs and RIAs regarding its concerns over activities in the industry concerning…Continue Reading SEC Readying to Hammer BDs and RIAs Over COVID19 Compliance Risks
Fox Rothschild’s Securities Industry Group and Labor & Employment Department have updated the firm’s National Survey on Restrictive Covenants, a quick reference guide for in-house counsel and human resource professionals…Continue Reading Now Available Fox Rothschild’s National Survey on Restrictive Covenants – 2020 Edition
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The highly regulated securities and financial industry has a host of complex problems. Financial institutions often find themselves on the receiving end of audits, investigations and other compliance issues. That is where Fox Rothschild’s Securities Industry practice group can help.