Dodd-Frank Broker-Dealer
MSRB Requests Comments on a Draft Rule and Interpretive Notices for Municipal Advisors
Broker-Dealer, Municipal Advisors The Municipal Securities Rule Making Board, or MSRB, is requesting comments on a draft rule and two interpretive notices applicable to municipal advisors. The interpretive notices are based upon the statutory definition of municipal advisor set forth in the Dodd-Frank Act without regard to any interpretation of that term proposed by the SEC in its [...] Read more →
SEC Staff Study on Investor Access to Registration Information About Investment Advisers and Broker-Dealers
Broker-Dealer, Investment Advisers Section 919B of the Dodd-Frank Act directs the SEC to complete a study, including recommendations, of ways to improve the access of investors to registration information about... Read more →
SEC Staff to Congress: Brokers Should be Subject to a Uniform Fiduciary Standard
Banking, Broker-Dealer, Investment Advisers The staff of the SEC has delivered to Congress a long-awaited study pursuant to Section 913 of the Dodd-Frank Act. That provision of the Dodd-Frank Act requires the SEC to... Read more →
GAO Report: Regulation of Financial Planners is Adequate
Broker-Dealer, Insurance, Investment Advisers The United States Government Accountability Office, or GAO, has issued a report that responds to a mandate included in Section 919C of the Dodd-Frank Act that directed GAO to... Read more →
SEC Staff Concludes Insufficient Capacity to Examine Investment Advisers
Banking, Broker-Dealer, Investment Advisers, Private Equity Thus, the staff believes that the SEC likely will not have sufficient capacity in the near or long term to conduct effective examinations of registered investment advisers with... Read more →
FSOC Issues Notice of Proposed Rulemaking Regarding Authority to Require Supervision and Regulation of Certain Nonbank Financial Companies
Banking, Broker-Dealer, Insurance, Investment Advisers, Public Companies and Securities The Dodd-Frank Act mandated that the Financial Stability Oversight Council, or FSOC, ensure that all financial companies whose failure could pose a threat to the financial... Read more →
SEC Extends Temporary Rule Regarding Principal Trades with Certain Advisory Clients
Broker-Dealer, Investment Advisers Under Section 913 of the Dodd-Frank Act, the SEC is required to conduct a study, and provide a report to Congress, concerning the obligations of broker-dealers and investment... Read more →
First Public Company Receives Benefit of SEC Cooperation Policy—Implications for Whistleblower Claims
Banking, Broker-Dealer, Employment, Insurance, Litigation, Public Companies and Securities The first public company received credit for its cooperation as a result of the SEC’s policy with respect to cooperation in investigations and enforcement actions announced in... Read more →
SEC Proposes Permanent Rule Requiring Municipal Advisors to Register With Agency
Banking, Broker-Dealer, Investment Advisers The SEC has proposed a rule creating a new process by which municipal advisors must register with the SEC. The proposed rule, required by the Dodd-Frank Wall Street Reform and... Read more →
Will Whistleblower Claims Give Rise to More SEC Enforcement Actions?
Broker-Dealer, Investment Advisers, Private Equity The Dodd-Frank Act’s whistleblower protection provisions will go into effect no later than nine months after July 22, 2010. When they do, it will be interesting to see if they... Read more →