With the massive explosion in interest in the use of non-fungible tokens (“NFTs”), purveyors are always looking for new avenues and areas to utilize NFTs. NFTs are being integrated into many different facets of commerce. Nonetheless, it is important to consider several regulatory issues before “jumping into the deep end”…Continue Reading Know Your NFT Before You Sell It or Expect to Send the Money Back
The United States Securities and Exchange Commission issued a rule proposal that would enact new…Continue Reading The SEC, Climate Change, and Disclosure: A Brave New World
We wanted everyone to see the recent alert published by Kimberly L. Kwan and Joshua…Continue Reading SEC Expects Crowdfunding Portals to be ‘Gatekeepers,’ Not Ignore Red Flags
On February 4, 2022, the United States Treasury Department released a report that indicated non-fungible…Continue Reading NFTs: A New Mechanism for Money Laundering… Uh Oh!
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
The United States Department of Labor (“DOL”) has had a very active summer regulating the securities industry. Yes, you heard it right, the DOL has made certain pronouncements that have…Continue Reading The DOL: The New Securities Regulator?
Sadly, the hackers of the world have not let the pandemic get in the way of their nefarious activities. In particular, BDs and RIAs have been primary targets. In our…Continue Reading Cybersecurity: An Issue for BDs and RIAs During this Pandemic
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