FINRA recently updated the industry on observations to date from its August 2021 sweep on broker-dealer practices and controls concerning the opening of options accounts and related issues (options account supervision, communications, and diligence).
Potentially in connection with the recent events rocking the crypto industry, FINRA is conducting a new sweep on “Crypto Asset Communications” by broker-dealers. If they haven’t already received the request, broker-dealers with crypto-related affiliates likely will be contacted. Notably, this is the first announced sweep that FINRA has issued in over a year.
Covering six key priorities related to digital assets. While this does not constitute a change in policy, it does highlight the administration’s desire to encourage both regulation and innovation in this space.
With 45 days to go before the 4 November 2022 compliance date, the Division of Examinations on 19 September published a Risk Alert reminding investment advisers of their obligation to comply with the amendments to Advisers Act Rule 206(4)-1 (“Marketing Rule”) as of the compliance date, and identifying review areas for SEC examinations.
On March 21, 2022, the U.S. Securities and Exchange Commission (SEC or Commission) issued its long-awaited proposed ruleset (Rule Proposal) that, if adopted as currently drafted, would mandate both domestic and foreign registrants to make a variety of climate-related impact and risk disclosures in registration statements and in annual filings under the Securities Exchange Act of 1934 (Exchange Act).
On 09 March 2022, the US Securities and Exchange Commission (SEC) proposed amendments to its rules on disclosures regarding cybersecurity risk management, strategy, governance, and incident reporting by public companies. These rules are intended to enhance and standardize cybersecurity disclosures, and, if adopted in their current form, would require public companies to disclose cybersecurity-related policies, procedures and all material cybersecurity incidents.