Category Archives: Compliance

DOL Weighs In With Cybersecurity Guidance, FINRA Issues Reminders on Options and Predispute Arbitration Agreements, NASAA Releases Annual State Advisers Report, Cayman Extends CRS Compliance Form Deadlines

June Regulatory Updates from Cari Hopsfenperger at Hardin Compliance Consulting LLC.

Topics include:

Read more here.

 

InSecurities Podcast — It’s All About Connecting: The Value of PLI’s IA/BD Programs

Thanks to Kurt Wolfe and Chris Ekimoff for having me as a guest on the lastest installment of PLI’s inSecurities podcast.  As someone who tunes in regularly, it was a pleasure for me to do. I enjoyed chatting about broker-dealer and investment adviser regulatory issues, my work with PLI including the upcoming live webcast Securities Law and Practice 2021: How the SEC Works on June 28.

To hear this episode, and other episodes, click here. 

 

We are not Amused: The Crown and SEC and FINRA Enforcement Matters from April 2021

This month’s securities enforcement article uses the television show “The Crown” as its primary source of inspiration in memory of Prince Philip, Duke of Edinburgh, who died on April 9, 2021; in awe of Oprah’s timing, interviewing skills, ability to get an interview; and out of respect for the Queen, “Her Majesty Elizabeth the Second, by the Grace of God, of the United Kingdom of Great Britain and Northern Ireland and of Her other Realms and Territories Queen, Head of the Commonwealth, Defender of the Faith,” and the Prime Ministers who served under her.  Please note that, as far as we know, “The Crown” did not involve investments in securities. . . Nonetheless, the Netflix television show does involve rules and codes of conduct; intrigue and misdirection; punishment and praise; drama and comedy; and good and evil.

Read more here.

Pun-ishment by SEC and FINRA: Enforcement Actions in March 2021

When you think about it, puns are kind of like securities enforcement actions. They could make you groan, they could make you laugh or they could make you think—causing you to say, “Oh, I see” (which is different from the SEC’s OCIE).

In the latest edition of NCSP Currents, we explore the connection of puns and other plays on words with SEC and FINRA enforcement actions and initiatives.

Read more here.

Contributors:

Brian L. Rubinbrianrubin@eversheds-sutherland.com

Andrea L. Gordon, andreagordon@eversheds-sutherland.com

DOL warns the ERISA fiduciary debate is far from over

The FAQ’s recently posted by the Labor Department on its latest ERISA fiduciary investment advice guidance warn that this project is far from over, and are troubling in a number of respects.

  • DOL is compelling the regulated community to comply with its recent guidance by December 20 notwithstanding its intention to change the governing rules in the near term.
  • DOL is on the path to recreating its vacated 2016 rule (other than the private right of action for IRA owners).
  • DOL may be steering financial services providers to a fiduciary model, notwithstanding how they are treated by their primary regulation.
  • In sum, the signals point to DOL resuming its 2015-2016 effort to restructure the financial services industries.
  • Given the range of best interest standards recently extended to financial services providers under other bodies of law, there cannot be an updated empirical record that justifies further regulation by DOL.

Read more here.