Specified Standards News Today

Thursday, January 14, 2021 On December 16, 2020, the U.S. Securities and Exchange Commission’s (“SEC”) Office of Compliance Inspections and Examinations (“OCIE,” since reorganized as a separate division of the SEC, i.e., the Division of Examinations [“DivEx”]) issued a Risk Alert entitled “Observations from Examinations of Broker-Dealers and Investment Advisers: Large Trader Obligations.” My December 8, 2020, blog post, “Meeting Specified Standards: the SEC’s OC...

Tuesday, December 15, 2020 Broker/dealers, which function as intermediaries between buyers and sellers of securities, are registered with and regulated by both the U.S. Securities and Exchange Commission (“SEC”) and the Financial institution Regulatory Authority (“FINRA”). They may also be subject to regulatory requirements as part of having trading privileges by particular exchanges such as the NYSE and NASDAQ. Enacted in 1970, the Bank Secrecy Act (“BSA”) establish...