SEC Proposes Rule Amendments to Modernize Beneficial Ownership Reporting

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The Securities and Exchange Commission today announced that it proposed rule amendments governing beneficial ownership reporting under Exchange Act Sections 13(d) and 13(g). The proposed amendments would update those rules to provide more timely…

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SEC Proposed Changes to Two Whistleblower Program Rules

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The Securities and Exchange Commission today proposed two amendments to the rules governing its whistleblower program. The first proposed amendment concerns award claims for related actions that would be otherwise covered by an alternative whistleblower…

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Kelly L. Gibson, Director of the Philadelphia Regional Office, to Leave the SEC; Scott Thompson and Joy Thompson named Office Acting Co-Heads

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The Securities and Exchange Commission today announced that Kelly L. Gibson, Director of the Philadelphia Regional Office, will leave the agency on Feb. 11 after 14 years of service. Joy Thompson and Scott Thompson will replace her as Acting Co-Directors…

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SEC Charges Shari’ah-Focused Online Investment Service with Misleading Clients

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The Securities and Exchange Commission today charged New York-based robo-adviser Wahed Invest, LLC with making misleading statements and breaching its fiduciary duty, and for compliance failures related to its Shari’ah advisory business. According to…

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SEC Issues Proposal to Reduce Risks in Clearance and Settlement

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The Securities and Exchange Commission today voted to propose rule changes to reduce risks in the clearance and settlement of securities, including by shortening the standard settlement cycle for most broker-dealer transactions in securities from two…

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FINRA 2022 Exam Priorities

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It is always good to know what regulators are going to focus on, and to prepare for that exam.

 Today FINRA released its 2022 Report on Examination and Risk Monitoring Program (the Report). While not a road map  it provides firms with information that may help inform their compliance programs. 

We will post our analysis and tips in the next few days, but FINRA is giving you their signals. 
PAY ATTENTION,  you don’t need to be a Houston Astro and steal signals!
Sallah Astarita & Cox, broker dealer counsel and former SEC attorneys, have been doing this for DECADES. Call and let’s make you are setup for the 2022 examinations.
The report identifies the relevant rule(s), highlights key considerations for member firms’ compliance programs, summarizes noteworthy findings from recent examinations, outlines effective practices that FINRA observed during its oversight, and provides additional resources that may be helpful to member firms in reviewing their supervisory procedures and controls and fulfilling their compliance obligations.
Call Sallah Astarita & Cox at 212.509.6544 to find out how they can work with your compliance department to get through the next sweep.

James E. Grimes Named Chief Administrative Law Judge at SEC

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The Securities and Exchange Commission today announced that James E. Grimes has been named the agency’s Chief Administrative Law Judge. Judge Grimes will lead the SEC’s impartial Office of Administrative Law Judges that conducts hearings, issues initial…

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SEC Proposes Amendments to Enhance Private Fund Reporting

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The Securities and Exchange Commission today voted to propose amendments to Form PF, the confidential reporting form for certain SEC-registered investment advisers to private funds. The proposed amendments are designed to enhance the Financial Stability…

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SEC Proposes Amendments to Include Significant Treasury Markets Platforms Within Regulation ATS

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The Securities and Exchange Commission today proposed rules to better protect investors and enhance cybersecurity by bringing more Alternative Trading Systems (ATS) that trade Treasuries and other government securities under the regulatory umbrella. The…

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SEC Reopens Comment Period for Pay Versus Performance

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The Securities and Exchange Commission today reopened the comment period on proposed rules under the Dodd-Frank Act requiring disclosure of information reflecting the relationship between executive compensation actually paid by a company and the company’…

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