Section 15 (a)(1) of the Securities Exchange Act of 1934 (Exchange Act) generally prohibits a broker or dealer from effecting “any transactions in, or to induce or attempt to induce
Continue Reading SEC Proposes Conditional Exemption for Certain Activities of Registered Municipal Advisors
SEC
CFTC, FinCEN and SEC Issue Joint Statement Reminding Persons in Digital Assets Space of Obligations Under Bank Secrecy Act
On Oct. 11, 2019, the Financial Crimes Enforcement Network (FinCEN), the U.S. Commodity Futures Trading Commission (CFTC), and the U.S. Securities and Exchange Commission (SEC), published a Joint Statement on …
Continue Reading CFTC, FinCEN and SEC Issue Joint Statement Reminding Persons in Digital Assets Space of Obligations Under Bank Secrecy Act
SEC Passes Long-Awaited New Rule 6c-11 to Modernize Regulation of ETFs
On Sept. 26, 2019, the Securities and Exchange Commission (SEC) announced it had adopted a new Rule 6c-11 under the Investment Company Act of 1940 (the “Investment Company Act” or…
Continue Reading SEC Passes Long-Awaited New Rule 6c-11 to Modernize Regulation of ETFs
SEC Issues ‘No-Action’ Letters Allowing Sales of Utility Tokens
By Barbara A. Jones & Rebecca G. DiStefano on
In a significant step forward for the cryptocurrency industry, the U.S. Securities and Exchange Commission issued its first “no-action” letter (NAL) to a U.S.-based company using utility tokens created for…
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SEC Issues Concept Release to Overhaul Current Framework for Exempt Offerings
The SEC is seeking public comment (due by September 24, 2019) on possible ways to improve the framework for exempt offerings under the Securities Act of 1933 and related SEC…
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SEC Approves Final Regulation Best Interest, Form CRS
On June 5, 2019, the Securities and Exchange Commission (SEC) voted 3-1 to adopt a series of proposals intended to “substantially enhance” the standards of conduct for financial professionals.
First…
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SEC Proposes Changes to the Financial Statement Requirements Relating to Acquisitions and Dispositions of Businesses
By Jason K. Zachary on
Posted in SEC, Securities and Exchange Commission
On May 3, 2019, the Securities and Exchange Commission (SEC) proposed amendments to the financial disclosure requirements in Rule 3-05 (Acquired Company Financial Information), Rule 3-14 (Real Estate Operations), and…
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SEC Guidance on Exhibit Redactions For Immaterial, Competitively Harmful Information
By Jason K. Zachary on
On April 1, 2019, the SEC provided additional guidance relating to its new rules that permit companies to file redacted material contracts without applying for confidential treatment of the redacted…
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Colorado Digital Token Act Exempts Certain Cryptocurrency Transactions From Colorado Securities Laws
Colorado recently passed legislation that will facilitate the sale and transfer of digital tokens in Colorado. Under the Digital Token Act, Colorado businesses will be permitted to effect transactions involving…
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SEC’s Office of Compliance Inspections and Examinations Releases 2019 Examination Priorities
By Arthur Don & Vincent Lewis on
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On Dec. 20, 2018, the Office of Compliance Inspections and Examinations (OCIE) of the U.S. Securities and Exchange Commission…
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