Tag Archives: BrokerDealers

SEC and FINRA to Hold National Compliance Outreach Program for Broker-Dealers on June 27, 2019

The Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) today announced the opening of registration for their 2019 National Compliance Outreach Program for Broker-Dealers, which will be held June 27, 2019, in Chicago.The program is designed to provide an open forum for … Continue reading

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GPB Private Placements- 80 Broker-Dealers Reportedly Authorized to Sell

As we previously reported, the U.S. Securities and Exchange Commission (“SEC”), Financial Industry Regulatory Authority (known as “FINRA”), the FBI, and the State of Massachusetts are investigating GPB Capital Holdings LLC (“GPB”) in probes reportedly concerning the accuracy of GPB’s … Continue reading

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Broker-dealers can continue to rely on investment advisers for customer KYC requirements

In a December 12, 2018, letter to a US trade association with members that include broker-dealers in securities (“broker-dealers”), the US Securities and Exchange Commission (“SEC”) extended its no-action relief to broker-dealers who wish to rely on investment advisers to … Continue reading

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SEC proposes to clarify reporting exemption for single-issuer broker-dealers

By Lene Powell, J.D. The SEC proposed to amend a reporting rule to clarify an exemption for broker-dealers who act for a single issuer. Under the proposed amendment to Rule 17a-5(e), a broker-dealer would not be required to engage an … Continue reading

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ICO Platforms Beware: You May Be Operating as Unregistered Broker-Dealers

On September 11, 2018, the SEC announced that TokenLot LLC, a so called "ICO Superstore," agreed to settle charges brought by the SEC for operating as an unregistered broker-dealer.  The investigation was conducted by the SEC Cyber Unit.The ICO Superstore … Continue reading

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