Category: Regulatory Issues (SEC & FINRA)

Of the many matters overseen by the U.S. Securities and Exchange Commission (SEC), regulatory efforts aimed at cryptocurrency have given rise to some of the agency’s perhaps most boggling determinations. That was made clear in a recent discovery hearing in the U.S. District Court for…

As the collection of personal information is increasingly part of doing business in the United States and abroad, a growing number of states are passing privacy laws in an effort to protect individuals’ personal data. For example, the California Consumer Privacy Act (CCPA) is a…

Elon Musk, the South African CEO of Tesla – and of other companies – is an ongoing beacon of investment news, and his use of Twitter has had a noticeable influence on the value of particular stocks over the years. Signal Advance, Dogecoin and GameStop…

The buying frenzy in GameStop Corp. stock, which began late last month and saw the price rise as much as 1,700% as amateur traders using an online trading platform egged one another on, is apparently over (for now). Even with a slight bump up last…

Over the past 35 years, the overall number of enforcement actions taken annually by the SEC has consistently risen. In 1985, the SEC brought about 300 such actions. In recent years, that number has hovered above 800. In 2019, the SEC took 862 total enforcement…

Millions of businesses have been able to survive during the pandemic with the help of the CARES Act’s Paycheck Protection Program (PPP), which has provided 5.2 million loans totaling about $525 billion. However, since the CARES Act was passed in March, the Justice Department has…

A former broker was recently sanctioned by the Financial Industry Regulatory Authority (FINRA) for allegedly engaging in outside cryptocurrency business activities. According to FINRA, the ex-Wells Fargo broker attempted to start a cryptocurrency company without first disclosing his intent and obtaining approval from Wells Fargo.…

As you may know, the Financial Industry Regulatory Authority (FINRA) is a self-regulating association that conducts investigations into its members with regard to securities law compliance. FINRA oversees disciplinary actions for its broker-dealer members who violate FINRA rules or SEC regulations.  FINRA’s activities include holding…

A Financial Industry Regulatory Authority (FINRA) investigation under Rule 8210 isn’t something to panic about. Nor is it something to take lightly. Depending on the regulatory agency’s findings, yourself or your firm may face severe penalties. That can include a temporary or permanent ban from…

Do you have any real or perceived conflicts of interests? Your answer will be crucial after the Securities and Exchange Commission’s adoption of a rule designed to curb conflicts of interests and provide investors with more information about their brokers. As reported by The Wall Street…