The global pandemic has brought the importance of good conduct and fair customer outcomes firmly into the spotlight. Whilst this principle is clear, how to interpret it effectively across different sectors, customer service arrangements and delivery models can be challenging. Businesses have also had to rapidly adapt to the broad and growing range of guidance
On July 1, 2020, FINRA issued guidance to member firms on compliance with FINRA Rule 2210 (“Rule 2210”)) on the marketing of private placements to retail investors. These private placements are typically conducted under Rules 504, 506(b) or 506(c) of Regulation D under the Securities Act of 1933, as amended, as “safe harbors” that permit
Issue 12 of the Norton Rose Fulbright Global Asset Management Quarterly is now available. You can also register to automatically receive each issue as it is released.
This publication highlights key developments that will be of interest to, and affect, our asset management clients, including market trends and developments in tax and buy-side regulation globally.
Glen Barrentine, who recently joined as Of Counsel in the New York Office of Norton Rose Fulbright, has extensive experience in regulatory, compliance and enforcement issues affecting financial service companies, particularly broker-dealers, investment advisers, municipal advisors, and securities exchanges.
He prepares a monthly update on FINRA (and selected SEC) regulatory matters at a glance,
On September 14, 2018, New York State Department of Financial Services (“DFS”) Superintendent Maria T. Vullo filed a lawsuit against the Office of the Comptroller of the Currency (“OCC”) in connection with the OCC’s recent decision to begin accepting applications from nondepository financial technology companies (“fintechs”) for special purpose national bank charters (the OCC’s “Fintech
On August 10, 2018, the Bureau of Consumer Financial Protection (the “Bureau”) announced that it had finalized amendments to the Gramm-Leach-Bliley Act (“GLBA”) regulations implementing a statutory change that provides an exemption for certain financial institutions from the GLBA requirement to deliver an annual privacy notice to their customers.
As discussed in our post from
On June 25, 2018, New York State announced adoption of final Department of Financial Services (DFS) regulations that require consumer credit reporting agencies to register with the DFS. Our blog post on the regulations as proposed last fall can be found here.
There were some clarifying changes to the requirements but the basic objectives
On January 24, 2018, the governing body for credit and debit cards, known as the Payment Card Industry (PCI) Security Standards Council, announced a new set of security requirements designed to address an increasingly popular way that merchants offer to consumers to pay for purchases: smartphones and tablets. Our colleague Susan Ross has written a
On November 1, 2017, the U.S. Securities and Exchange Commission (SEC) joined the U.S. Federal Trade Commission (FTC) in warning celebrities about social media endorsements.
SEC Warning
The SEC issued both a public statement and an investor alert regarding celebrity endorsements of Initial Coin Offerings (ICOs). We published a blog post in August regarding the
Following up on our inaugural session on November 2, the Norton Rose Fulbright New York office’s second 40-minute financial services briefing is set for this Thursday, December 1. Each month, Norton Rose Fulbright’s senior practitioners will provide interested in-house counsel and professionals with an insightful discussion on current regulatory trends within the financial services sector.