205-967-8822 Contact

News & Insights

Practice Area: Securities

Finra Reminds Firms Of Their Supervisory Obligations Related To Outsourcing To Third Party Vendors

Posted on

In light of the fact that many member firms are increasingly using third-party vendors to perform a variety of core business functions, FINRA recently published Regulatory Notice 21-29, “FINRA Reminds Firms of their Supervisory Obligations Related to Outsourcing to Third-Party Vendors.” Regulatory Notice 21-29 reminds member firms of their obligation to establish and maintain a supervisory…
Read More

Finra Amends Rules Associated With Private Placement Offerings

Posted on

FINRA recently published Regulatory Notice 21-26, “FINRA Amends Rules 5122 and 5123 Filing Requirements to Include Retail Communications That Promote or Recommend Private Placements.” The notice amends FINRA Rules 5122 and 5123 to require additional filing requirements by member firms as it relates to the sale of private placement offerings. Both FINRA Rules 5122 (Private…
Read More

Finra, Sec, And Nasaa Offer New Resource To Assist Securities Firms In Implementing The Training Requirements Of The Senior Safe Act

Posted on

FINRA, SEC, and NASAA recently announced a new presentation intended to assist securities firms in detecting, preventing, and reporting financial exploitation of seniors pursuant to the Senior Safe Act, Section 303 of the “Economic Growth, Regulatory Relief, and Consumer Protection Act,” which was signed into law on May 24, 2018, as well as the state…
Read More

Finra Announces All Dispute Resolution Hearing Locations Will Be Open For In Person Proceedings On August 2, 2021

Posted on

In March of 2020, FINRA announced that due to the COVID-19 pandemic, it had administratively postponed all in-person arbitration and mediation proceedings.  Subsequent announcements extended those adjournments through July 3, 2021.  In mid-May, 2021, FINRA announced that 62 hearing locations would be open for in-person hearings starting July 5, 2021, and recently, FINRA stated that…
Read More

Finra Issues Guidance Regarding Predispute Arbitration Agreements For Customer Accounts

Posted on

FINRA recently issued Regulatory Notice 21-16 “FINRA Reminds Members About Requirements When Using Predispute Arbitration Agreements for Customer Accounts.” The Notice reminds members firms about certain requirements when using predispute arbitration agreements for customer accounts, as FINRA has recently become aware of customer agreements containing provisions that do not comply with FINRA rules. Under FINRA…
Read More

Sec Division Of Examinations Announces 2021 Examination Priorities

Posted on

The SEC Division of Examinations recently announced its examination priorities for fiscal year 2021, discussing key risks, trends, and examination priorities in an overall effort to promote and improve compliance. The two largest programs run by the Division, Investment Adviser/Investment Company Program and Broker-Dealer and Exchange Program, focus on the protection of retail investors and…
Read More

Highlights From The Finra 2021 Risk Monitoring And Examination Priorities Letter

Posted on

On February 1, 2021, FINRA published the 2021 Report on FINRA’s Examination and Risk Monitoring Program (“2021 Report”). Annually, FINRA publishes the Report on its Examination and Risk Monitoring Program in order to provide member firms with information they can use to assess and strengthen their compliance, supervisory, and risk management programs. The Report summarizes…
Read More

Finra Urges Firms To Review Their Policies And Procedures Relating To Red Flags Of Potential Fraud Involving Low Priced Securities

Posted on

FINRA recently issued Regulatory Notice 21-03 providing information to help FINRA member firms that engage in low-priced securities business assess and, as appropriate, strengthen their controls to identify and mitigate their risk, and the risk to their customers, including specified adults and seniors, of becoming involved in activities related to fraud involving low-priced securities.  FINRA…
Read More

Finra Releases December 2020 Board Of Governors Meeting Report

Posted on

FINRA’s Board of Governors met on December 2-3, 2020, to review FINRA’s 2020 financial performance, approve the organization’s 2021 proposed budget, reaffirm FINRA’s Financial Guiding Principles, approve rule proposals, and receive several operational updates. The Board approved two rule proposals to be filed with the Securities and Exchange Commission (SEC), directing impacting our clients. As…
Read More

Sec Adopts Rule Changes To Private Offering Exemptions

Posted on

On November 2, 2020, the SEC adopted amendments to “simplify, harmonize, and improve certain aspects of the exempt offering framework” under the Securities Act of 1933. The amendments are intended to meet evolving market needs by providing, among other changes, all of the following: greater clarity around the SEC’s integration doctrine that can pose challenges…
Read More

Contact

Let’s talk about what our firm can do for you.

Our locations in Birmingham and Pensacola are conveniently located for clients in the Southeast.

Get In Touch