FINRA member firms (“Members”), and the enterprise organizations in which many sit, are moving rapidly to deploy firm-approved artificial intelligence tools for use by their employees. As adoption accelerates, the
Continue Reading Internal Reviews Covering the Use of AI by FINRA Associated Persons
On March 20, 2025, the U.S. Securities and Exchange Commission took a step towards clarifying its position on crypto mining activities. In a recent statement, the SEC’s Division of Corporation Finance provided non-binding guidance on the application of federal securities laws to proof-of-work (PoW) mining activities, stating that such activities are beyond the SEC’s purview.
Continue Reading SEC Staff Clarifies Stance on Crypto Mining
Most meme coins are not securities, and their offer and sale will not need to be registered or require an exemption from registration, SEC staff said in a clarifying statement on Feb. 27, 2025.
Continue Reading SEC Clarifies Stance: Most Meme Coins Not Subject to Securities Regulation
Regulations amending Chapter 517 of the Florida Securities and Investor Protection Act (FSIPA) took effect Oct. 1, 2024 (the Regulations). While the Regulations revise certain existing securities and transactional exemptions
Continue Reading Florida Amends Securities and Investor Protection Act: Key Changes to Private Placement, Institutional Investor Exemptions
On Aug. 15, 2024, a federal court dismissed a proposed class action against financial analysis website Seeking Alpha, Inc. (Seeking Alpha). The lawsuit was brought in July 2023
Continue Reading No Need for Seeking Alpha to Seek Registration
In the latest installment of its ongoing “off-channel” communications sweep, on Aug. 14, 2024, the Securities and Exchange Commission announced settlements totaling $393 million with 26 investment advisers and brokers-dealers
Continue Reading SEC Collects $390 Million in Latest Crackdown on ‘Off-Channel’ Communications in the Financial Industry
On July 30, 2024, the SEC announced it had reached a settlement agreement with Western, a dually registered investment adviser and broker-dealer providing investment advice and brokerage services to retail
Continue Reading Reg BI Enforcement Intensifies: SEC Fines Western International Securities for Violating Care and Compliance Obligations
On June 5, 2024, the U.S. Court of Appeals for the Fifth Circuit unanimously vacated a rule the Securities and Exchange Commission (SEC) enacted in August 2023 that was intended to protect investors who invest in certain private funds and prevent fraud by the investment advisers to Private Funds.
Continue Reading U.S. Appeals Court Vacates SEC Private Fund Adviser Rule
The Securities and Exchange Commission (SEC)’s Division of Examinations (Division) announced its 2024 examination priorities (Exam Priorities) in October. In 10 years of priority announcements, this is by far the
Continue Reading SEC Division of Examinations 2024 Priorities
If enacted, the Unlocking Capital Act would establish two investment professional categories—private placement brokers and finders. The legislation would allow these professionals to engage in many activities that, due to
Continue Reading Proposed Legislation Would Create a Tiered Exemption from Broker Registration