On February 26, 2021, the US Securities and Exchange Commission’s (“SEC”) Division of Examinations published a risk alert in connection with the offer, sale, and trading of digital assets that are securities. The risk alert provides observations made by Division of Examinations staff during examinations of broker-dealers, investment advisers, exchanges, and transfer agents. The risk
Marlon Paz is head of Mayer Brown’s Broker-Dealer Regulation & Compliance practice. He counsels broker-dealers and other financial services firms in matters related to securities regulation, SEC and FINRA enforcement, internal investigations and examinations, and compliance. Marlon also provides advice with respect to acquisitions of securities broker-dealers and investment advisers.
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On November 2, 2020, the U.S. Securities and Exchange Commission (“SEC”) Division of Enforcement staff published its annual enforcement report for fiscal year 2020. This has been an unprecedented year, including for the SEC’s Division of Enforcement. SEC Chairman Jay Clayton noted that the report highlights “enforcement’s extraordinary efforts” amidst the challenges of the COVID-19
In statements made at SIFMA’s Virtual Compliance and Legal Forum, FINRA Chief Executive Officer, Robert Cook, indicated that FINRA may be reconsidering aspects of its cycle examinations in light of the challenges presented by the COVID-19 pandemic. FINRA conducts between 1,500 and 2,000 risk-based cycle examinations annually to assess identified risks and controls and determine…
On March 9, 2020, the Financial Industry Regulatory Authority (FINRA) published Regulatory Notice 20-08 (Notice) with respect to business continuity planning in connection with the recent coronavirus (COVID-19) outbreak. The Notice offers guidance on preparing for potential pandemic-related risks and provides regulatory relief from certain requirements in light of COVID-19.
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