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USA - April 8 2013
The staff of the U.S. Securities and Exchange Commission ("SEC") recently published responses to certain frequently asked questions ("FAQs")…
USA - December 17 2012
FINRA recently notified member firms that the staff of the SEC’s Division of Trading and Markets (the “SEC staff”) will allow an optional one-day extension—around the December 2012 month-end holidays—for firms to make reserve deposits as may be required pursuant to Rule 15c3-3(e) under the Securities Exchange Act of 1934.
USA - December 12 2012
FINRA Rule 5123, which was approved by the SEC in June 2012 and became effective on December 3, 2012, requires any FINRA member that “sells” an issuer’s securities in a “private placement” to, in the absence of an available exemption, perfect a filing with FINRA that consists of a copy of any private placement memorandum, term sheet or other offering document, as well as any material amendments thereof, that the firm used in connection with such sale (or indicate in the filing that no such offering documents were used).
USA - December 10 2012
In a no-action letter issued to the Financial Industry Regulatory Authority, Inc. (FINRA), the Securities and Exchange Commission (SEC) substantially expanded the universe of foreign equity securities that may be deemed to have a “ready market” for purposes of Rule 15c3-1 under the U.S. Securities Exchange Act of 1934 (the SEC’s “net capital rule” for broker-dealers).
USA - October 19 2012
The Financial Industry Regulatory Authority, Inc. (“FINRA”) recently published a revised rule proposal governing debt research conflicts of interest.
