Blog
RegTech: Customer Identification and AML Compliance
Welcome to the second part of our three-part series on Regulatory Technology (RegTech) tools and the securities industry! As we discussed in our previous post, “RegTech: Surveillance and Monitoring,” more and more members of the financial services industry are using RegTech tools to effectively and more efficiently meet their regulatory [...]
RegTech: Surveillance and Monitoring
In an effort to keep current with regulatory compliance requirements, many financial services firms are turning to regulatory technology (“RegTech”) tools to help them meet their obligations effectively and most efficiently. After discussions with over forty participants in the RegTech space, FINRA has provided a summary of how RegTech tools [...]
FINRA Rule 3310: Anti-Money Laundering Compliance Program
FINRA Rule 3310 sets forth minimum standards for the required anti-money laundering (AML) compliance programs to be implemented by broker-dealers. This written AML compliance program must be reasonably designed to achieve and monitor compliance with the requirements of The Currency and Foreign Transactions Reporting Act of 1970 (more commonly known [...]
Private Placement Basics – Part II
[Continued from Private Placement Basics – Part I] Due Diligence and the Suitability of Private Placements The SEC’s recent amendments to Regulation D in accordance with the JOBS Act do not diminish a firm’s responsibility to conduct adequate due diligence on its offerings to ensure that any recommendations made to [...]
Private Placement Basics – Part I
Broker-dealers that are active in the sale or solicitation of private placement offerings have additional requirements under FINRA and SEC rules. These requirements include filing certain offering documents with reference to any investments solicited and/or sold to clients of the firm. […]
What is an Initial Coin Offering (ICO)? – Part II
[Continued from What is an Initial Coin Offering (ICO)? – Part I] Online Platforms that Facilitate Trading in ICO Tokens are Not Registered Exchanges There are no ICO platforms currently registered as exchanges. Further, the SEC has stated that it neither regulates these platforms as exchanges nor reviews the digital [...]