Posts Tagged:Compliance

Finra Statement to the Senate on Protecting Senior Investors

Gerri Walsh, President of the Finra Investors Education Foundation, and Vice President of Finra Investor Education, made a Statement for the Record at a hearing of the Senate Special Committee on Aging.  (Finra) In this statement, Walsh reiterated Finra’s commitment and efforts to protect senior investors.  I have excerpted some of the text below: How…

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SEC Report on Examination of Ratings Agencies

The SEC has issued its 2012 Summary Report of Commission Staff’s Examinations of Each Nationally Recognized Statistical Rating Organization.  (SEC)  This is more of what is coming out of Dodd-Frank.  In particular: In July 2010, Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”), which, among other things, amended Section…

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SEC Joins Finra in Hurricane Sandy Regulatory Relief

The SEC has joined Finra in offering regulatory relief to entities affected by Hurricane Sandy.  (SEC) See our coverage of the Finra relief efforts here and here.

Finra Offers Regulatory Relief in Sandy Aftermath

While Finra’s One Liberty Plaza office in downtown Manhattan remains closed in the wake of Hurricane Sandy, the Self-Regulatory Organization is offering regulatory relief to member firms affected by the hurricane. Finra just issued NTM 12-45 “Regulatory Relief” explaining their efforts.  (12-45)  The executive summary states: Due to the impact from Hurricane Sandy, FINRA is…

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Finra Business Continuity Compliance

In the better-late-than-never file, Finra is reminding members of their obligations for business continuity plans.  (Finra) Finra Rule 4370 covers these requirements.  (4370)  Here’s the overview: (a) Each member must create and maintain a written business continuity plan identifying procedures relating to an emergency or significant business disruption. Such procedures must be reasonably designed to…

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The Ghost of Enron Past? or FERC Comes a Calling

Dealbook, at the New York Times, reports that the Federal Energy Regulatory Commission (“FERC”) has launched investigations into many Wall Street firms for manipulating energy markets. (NYT) The Federal Energy Regulatory Commission, the government watchdog overseeing the oil, natural gas and electricity business, has lately taken aim at three major banks suspected of manipulating energy…

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Complex Products Speech by Finra Chairman and CEO Richard G. Ketchum

Finra Chairman and CEO Richard G. Ketchum delivered some enlightening remarks at the SIFMA Complex Products Forum on September 27, 2012.  (Speech).  The speech is well worth the read.  There are many items of note in Ketchum’s remarks.  Some are highlighted below (with useful links at the end): An attempt at a definition of complex…

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LIBOR CFTC Settlement with Barclays

While not exactly breaking news, I just came across this settlement filing by the CFTC with Barclays over the LIBOR fixing.  For those of you in the compliance world, this is great reading.  The filing can be found here.

The New York Observer Weighs in on the Fiduciary Battle Between RIAs and BDs

The Observer has always published interesting, if not quirky, financial reporting.  Here’s a serious piece on the fiduciary standard battle currently raging across the financial industry. A surprising number of heavy hitters are putting their two cents in – from many different walks of life.

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