As the SEC’s proposed rules move toward finalization, compliance teams are preparing for a multi-pronged regulatory approach. FrontLine’s Founder and President Amy Lynch comments that the sheer number of rule proposals coming out of the SEC last year points to a very active regulatory year for compliance in 2023. She adds that the SEC’s message…
Seeking to increase transparency and fairness in the equity markets, the SEC and its Chairman Gary Gensler have proposed some of the largest changes in recent history to the markets’ structure and operation. A key SEC objective of its proposal is to increase competition for market orders by individuals through an auction system. But, there…
A lawsuit challenging the SEC’s amended Proxy Advisor Rule was recently dismissed, with a district court judge saying that it was reasonable for the SEC to change course on the rule. Although it was finalized, the original 2020 rule never went into effect. A new SEC administration, led by Gary Gensler, changed its view of…
A recent Risk Alert (the “Alert”) issued by the SEC’s Division of Examinations (“EXAMS”) discusses how both investment advisers and broker-dealers are failing to meet the requirements under Reg S-ID regarding the prevention of identity theft. The Alert summarizes the various deficiencies found during examinations of broker-dealers and investment advisers. Although the Alert is quite…