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Results:1-10 of 20

BDC and RIC Research and Issuance Proliferating: Sector flourishing amid liberalisation
  • Schulte Roth & Zabel LLP
  • USA
  • July 18 2018

The FAIR Act (Fair Access to Investment Research Act) of 2017 (the "FAIR Act") has led the SEC to propose a new rule 139b under the Securities Act of


New FINRA Registration Requirement for Algo Traders Implications for broker dealers and investment advisers
  • Schulte Roth & Zabel LLP
  • USA
  • April 7 2018

On 7 April 2016, the Securities and Exchange Commission approved the Financial Industry Regulatory Authority's proposed amendments to NASD Rule 1032


The New FINRA Registration Requirement for Algorithmic Traders: Implications for Broker-Dealers and Investment Advisers
  • Schulte Roth & Zabel LLP
  • USA
  • April 26 2016

On April 7, 2016, the Securities and Exchange Commission approved the Financial Industry Regulatory Authority’s proposed amendments to NASD Rule 1032


New York City commission on human rights revises enforcement guidance on FINRA member exemption to credit history law
  • Schulte Roth & Zabel LLP
  • USA
  • September 4 2015

Yesterday, the New York City Commission on Human Rights (the "Commission") updated its enforcement guidance on the Stop Credit Discrimination in


FINRA proposes to delay implementation date for Rule 5131, but fund managers continue to need information from investors as to restricted status
  • Schulte Roth & Zabel LLP
  • USA
  • May 3 2011

FINRA's Rule 5131 bans a practice known as "spinning" by generally prohibiting a FINRA member from allocating a new issue to any account (e.g., private investment fund) in which an executive officer or director of a public company or a covered non-public company, or a person materially supported by such an executive officer or director (each, a “Rule 5131 Restricted Person”), has a beneficial interest if such Rule 5131 Restricted Person’s company has or expects to have an investment banking relationship with the FINRA member.


FinCEN and SEC sanction broker-dealer and chief compliance officer for AML deficiencies relating to foreign sub-accounts
  • Schulte Roth & Zabel LLP
  • USA
  • October 1 2010

On September 1, 2010, the Financial Crimes Enforcement Network ("FinCEN") assessed a $50,000 civil penalty against Pinnacle Capital Markets, LLC ("Pinnacle" or the "Firm") - an online, registered broker-dealer based in North Carolina - for the Firm's failure to comply with the customer identification program ("CIP") rule, and its failure to implement an adequate AML program and report suspicious transactions, as required by the Bank Secrecy Act ("BSA") and its implementing regulations.


FINRA hearing panel decides clearing firm’s overall AML program was adequate and reasonable, but some aml procedures were deficient
  • Schulte Roth & Zabel LLP
  • USA
  • August 24 2010

On March 5, 2010, a Financial Industry Regulatory Authority (“FINRA”) Hearing Panel (“Hearing Panel”) issued a decision in which it found that the anti-money laundering (“AML”) procedures implemented by Alabama-based Sterne, Agee & Leach, Inc. (“Sterne” or the “Firm”), a regional clearing firm, from April 2002 through July 2005, and in most respects, for the period from July 2006 to April 2007,were reasonably designed to achieve and monitor compliance with the AML laws, as required by NASD Conduct Rule 3011.


SEC to increase public disclosure of short-selling - Form SH short sale reporting requirement expires Aug. 1, 2009
  • Schulte Roth & Zabel LLP
  • USA
  • July 29 2009

On July 27, 2009, the Securities and Exchange Commission ("SEC" or "the Commission") issued a press release stating that it will not renew or otherwise extend interim final temporary Exchange Act Rule 10a-3T ("Temporary 10a-3T"), which required institutional investment managers to report short sales and short positions on Form SH.


Analysis of the new short sale rules proposed by the Securities and Exchange Commission
  • Schulte Roth & Zabel LLP
  • USA
  • June 4 2009

On April 10, 2009, less than two years after eliminating all price restrictions on short sales, the Securities and Exchange Commission ("SEC") published a release seeking comment on two alternatives for reinstating short sale price restrictions and three versions of a less pervasive circuit breaker rule, which would impose such restrictions only upon a significant intra-day price decline in a stock and only for the impacted stock.


FINRA sanctions ETrade brokerage firm for failing to comply with requirements for reporting suspicious activity
  • Schulte Roth & Zabel LLP
  • USA
  • February 9 2009

On Dec. 31, 2008, the Financial Industry Regulatory Authority (“FINRA”) accepted a Letter of Acceptance, Waiver and Consent (“AWC”) submitted by ETrade Securities, LLC and ETrade Clearing, LLC (collectively, “ETrade” or the “Firm”), both of which are registered broker-dealers.