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Practice Area: Securities

SEC RELEASES DRAFT STRATEGIC PLAN FOR 2026–2030: EMPHASIZING DIGITAL ASSET CLARITY, PRINCIPLED ENFORCEMENT, AND REGULATORY MODERNIZATION

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The U.S. Securities and Exchange Commission (SEC) has published its Draft Strategic Plan for Fiscal Years 2026 through 2030, marking a return to the agency’s mission as established by Congress in the Securities Exchange Act of 1934. Released on June 2, 2026, the draft document underscores three core objectives: protecting investors, maintaining fair, orderly, and…
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ATTORNEYS CHARGED BY SEC FOR ROLE IN INSIDER TRADING SCHEME BASED ON USE OF CONFIDENTIAL CLIENT INFORMATION 

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On May 6, 2026, the Securities and Exchange Commission (SEC) announced charges filed against 21 individuals for their alleged participation in an elaborate insider trading scheme based on improper use confidential client information. Those charged include several mergers and acquisitions attorneys, who allegedly misappropriated client information within their law firms’ internal networks and provided the…
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SCOTUS TO DECIDE FUTURE OF SEC’S DISGORGEMENT AUTHORITY

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The Supreme Court will hear oral arguments on April 20, 2026, in Sripetch v. Securities and Exchange Commission, a case that could significantly affect the scope of the Securities and Exchange Commission’s (SEC) authority to obtain disgorgement in civil enforcement actions. Disgorgement requires violators of securities laws to surrender profits obtained through misconduct, rooted in…
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FINRA’S REGULATORY NOTICE 26-06 SUGGESTS POTENTIAL RESTRUCTURING OF CURRENT ARBITRATION PROCESSES

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On March 2, 2026, the Financial Industry Regulatory Authority (FINRA) released Regulatory Notice 26-06, requesting feedback and commentary on current arbitration processes utilized for dispute resolution among brokers and customers. FINRA’s recent publication comes at a time when its existing dispute resolution system has been under heavy criticism from industry parties and investors. The measure…
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FINRA EASES BULK TRANSFER RULES WHILE DEEPFAKE PUMP-AND-DUMP ALLEGATIONS HIT NEW HEIGHTS

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Two noteworthy developments in the securities industry emerged this month, one offering relief to broker-dealers and the other serving as a stark reminder of evolving fraud risks. FINRA Removes Pre-Review Requirement for Negative-Consent Bulk Account Transfer Letters On February 6, 2026, FINRA issued Regulatory Notice 26-03 announcing a significant procedural change effective April 1, 2026….
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FINRA RELEASES  2026 ANNUAL REGULATORY OVERSIGHT REPORT ADDRESSING RECENT CYBERSECURITY AND GEN-AI BASED THREATS

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On December 9, 2025, the Financial Industry Regulatory Authority (FINRA) released its Annual Regulatory Oversight Report (Report) recapping its notable findings and regulatory activities. The Report itself does not create any new legal obligations but rather serves as an informative resource to firms by providing effective practices based on current trends and evolving risks within…
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SWISS PROSECUTORS CHARGE UBS OVER LEGACY CREDIT SUISSE MONEY LAUNDERING IN MOZAMBIQUE ‘TUNA BONDS’ SCANDAL

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On December 1, 2025, Switzerland’s Office of the Attorney General (OAG) announced criminal charges against UBS and the former Credit Suisse, marking a significant development in the long-running “tuna bonds” scandal. The charges stem from allegations that Credit Suisse failed to prevent money laundering tied to over $2 billion in loans arranged for Mozambique’s state-owned…
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SEC CHANGES COURSE ON MANDATORY ARBITRATION CLAUSES

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On September 17, 2025, the Securities and Exchange Commission (SEC) issued a new policy statement clarifying the effect of mandatory arbitration clauses on its decisions to accelerate the effectiveness of registration statements. In doing so, the SEC confirmed that registration agreements containing mandatory arbitration clauses between issuers and investors will not impact decisions to accelerate…
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RECENT DEVELOPMENTS IN FINANCIAL ADVISOR COMPLIANCE

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Advisor’s Fraud Leads to Prison Sentence A 63-year-old former financial advisor was sentenced to 32 months in federal prison for wire fraud after defrauding a client of $531,411.00 over approximately six years. The sentencing, announced on September 30, 2025, by the U.S. Attorney’s Office, followed the advisor’s guilty plea in June 2025. The fraud targeted…
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FINRA SUSPENDS BROKER FOR OVERLOADING CLIENT PORTFOLIOS WITH ALTERNATIVE INVESTMENTS

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On August 22, 2025, a broker faced a four-month suspension from the securities industry after regulators found he had allocated up to 91% of a client’s net worth into illiquid alternative investments. The broker, based in suburban Dallas, was also fined $10,000.00, according to his BrokerCheck profile. Most firms limit alternative investment allocations to around…
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