Fried Frank Harris Shriver & Jacobson LLP | USA | 27 Nov 2023
The Financial Industry Regulatory Authority (“FINRA”) filed with the SEC a proposed rule change to permit broker-dealers to include projections of…
Fried Frank Harris Shriver & Jacobson LLP | USA | 7 Nov 2023
A broker-dealer settled charges with FINRA for failing to maintain an anti-money laundering program that could be reasonably expected to detect and…
Fried Frank Harris Shriver & Jacobson LLP | USA | 30 Oct 2023
For 50 years, Exchange Act Rule 15c2-11 (the "Rule") was understood to apply only to equity securities. The SEC then issued a surprising and…
K&L Gates LLP | USA | 23 Oct 2023
On 28 May 2024, the settlement period for substantially all transactions in US markets will be reduced by one day, from two business days after the…
Mintz | USA | 9 Oct 2023
My last note touched on a recent SEC rule proposal regarding Predictive Data Analytics, and a speech by Chair Gary Gensler highlighting a number of…
Fried Frank Harris Shriver & Jacobson LLP | USA | 12 Sep 2023
A broker-dealer settled charges with FINRA and multiple exchanges (see Primary Sources below) for failing to properly surveil its client…
Fried Frank Harris Shriver & Jacobson LLP | USA | 1 Sep 2023
A broker-dealer settled FINRA charges for disclosure failures on consolidated statements sent to customers. In a Letter of Acceptance, Waiver and…
Mintz | USA | 29 Aug 2023
In a widely anticipated decision, the Massachusetts Supreme Judicial Court unanimously upheld the Massachusetts Fiduciary Duty Rule, which imposes a…
K&L Gates LLP | USA | 28 Aug 2023
On 25 August 2023, the Massachusetts Supreme Judicial Court reversed a Massachusetts Superior Court ruling and denied Robinhood Financial LLC’s…
Fried Frank Harris Shriver & Jacobson LLP | USA | 25 Aug 2023
The Massachusetts Supreme Judicial Court held that the Secretary of State could reasonably adopt a new rule under state law that holds broker-dealers…