FINRA issued an Investor Alert concerning closed-end fund distributions, principally to warn the public that a fund’s distributions might include a return of principal. Financial firms that create or distribute closed-end funds should take warning that FINRA will be looking at their practices in this regard.
Occasionally, you may need emergency relief against a former employee who has absconded with a client list, your confidential information, and the clients themselves. If you are very unlucky, you may need to get a TRO against his new employer as well.
There is some interesting but overlooked news on the EB-5 front. In a letter to a broker-dealer dated August 26, 2013, FINRA (Financial Industry Regulatory Authority) confirmed that the suitability rule (Rule 2111) applies to FINRA members making investment recommendations to foreign nationals in connection with the EB-5 Investor Visa Program.
Attention Compliance Officers: SEC, CFTC and FINRA Issue Best Practice Statement for Business Continuity and Disaster Recovery Planning
On August 16th, the SEC, CFTC and FINRA issued a statement regarding best practices with respect to business continuity planning.
With newer methods to communicate and interact with the so-called social network popping up on almost a daily basis, securities regulators have been giving more and more attention to social media and how companies and certain regulated professionals are employing it.
Protecting Confidential Information and Client Relationships in the Financial Services Industry Webinar
Please join us for a complimentary webinar entitled Protecting Confidential Information and Client Relationships in the Financial Services Industry on May 23rd at 12:00 p.m. – 1:00 p.m. c.s.t.
If you are a broker-dealer or a registered representative at one, you sign on for some meddling by FINRA.
Protecting Privacy or Enabling Fraud? Employee Social Media Password Protection Laws May Clash with FINRA Rules
As a growing number of states pass legislation which will protect individuals’ social media accounts from employer scrutiny, they have encountered a surprising adversary – FINRA and other securities regulators.
The SEC recently announced an action where the promoter allegedly told investors that the 2012 JOBS Act would allow his fund to raise billions of dollars by advertising to the general public and produce large profits for early investors.
Upcoming Webinar: Protecting Confidential Information and Client Relationships in the Financial Services Industry
In Seyfarth’s fifth installment in its series of 2013 Trade Secret Webinars, on Thursday May 23, 2013 at 12:00 p.m. Central Time, Seyfarth attorneys Scott Humphrey, Daniel Lanciloti, and Jason Stiehl will focus on trade secret and client relationship considerations in the banking and finance industry, with a particular focus on a firm’s relationship with its FINRA members.