News Centre

SEC To Hold National Compliance Outreach Seminar For Investment Companies And Investment Advisers Virtually

Date 07/10/2020

The Securities and Exchange Commission today announced that it has rescheduled its compliance outreach program's national seminar for investment companies and investment advisers to Nov. 19, 2020. This program is intended to help Chief Compliance Officers (CCOs) and other senior personnel at investment companies and investment advisory firms enhance their compliance programs for the protection of investors. The November program will be offered as a live webcast—both speakers and attendees will be participating in the program remotely. All live webcast attendees may view the program real-time, access presentation materials, and submit questions to the speakers during the presentation. Questions for the panels may also be submitted prior to the event to ComplianceOutreach@sec.gov.

CFTC Charges Wisconsin Firm And Its Manager With Registration, Disclosure, And Recordkeeping Violations

Date 07/10/2020

The Commodity Futures Trading Commission announced the filing of a civil enforcement action in the U.S. District Court for the Eastern District of Wisconsin against Southwest Services, L.L.C. a/k/a South West Services, LLC and its sole managing member, Timothy A. Sack of Oshkosh, Wisconsin.

Statement At Open Meeting Considering A Proposed Exemptive Order For Finders, SEC Commissioner Elad L. Roisman, Oct. 7, 2020

Date 07/10/2020

As it is commonly understood, the term “finder” refers to someone who helps small businesses seeking to raise capital by identifying and, in some cases, soliciting potential investors.  The status of “finders” has been a long-standing grey area in our broker-dealer regulatory regime.  Throughout my tenure as an SEC Commissioner, I have discussed the need for the SEC to provide clarity in this area.  Today, the Commission considers whether to take a step in this direction and publish for comment a proposed exemption from broker-dealer registration for finders.  I am pleased to support this recommendation. 

Autorité Des Marchés Financiers: Extensive Update Of The Governance And Compliance Guide For Registrants

Date 07/10/2020

The Autorité des marchés financiers (AMF) is strengthening its role as a local regulator close to its markets and improving its delivery of services by publishing a new edition of its Governance and Compliance Guide for registrants under the Act respecting the distribution of financial products and services (pdf - 5 MB)This link will open in a new window. The updated version of this reference tool is designed to offer better support to the industry, particularly on compliance.

Statement At Open Meeting On Proposed Exemptive Order For Certain Activities Of Finders, SEC Commissioner Hester M. Peirce Oct. 7, 2020

Date 07/10/2020

Eddie Van Halen’s expert, ebullient guitar-playing is an indelible part of the soundtrack of my youth.  One of the things he was known for is making up his own way of playing; he was not following any set playbook; he figured out what worked and did that.  He even made his own guitars when the ones available to him did not do what he needed them to do.

Bahamas International Securities Exchange CEO Speaks On Bahamas At Sunrise

Date 07/10/2020

On August 3, 2020, the Chief Executive Officer of The Bahamas International Securities Exchange (BISX), Mr. Keith Davies, was invited to do a segment on the popular Bahamian daytime show, “The Bahamas at Sunrise”.

Statement On Proposed Exemptive Relief For Finders, SEC Commissioner Caroline A. Crenshaw, Oct. 7, 2020

Date 07/10/2020

Thank you, Chairman Clayton, and thank you to my fellow Commissioners.

Minutes Of The Federal Open Market Committee, September 15-16, 2020

Date 07/10/2020

The Federal Reserve Board and the Federal Open Market Committee on Wednesday released the attached minutes of the Committee meeting held on September 15–16, 2020. A summary of economic projections made by Federal Reserve Board members and Reserve Bank presidents for the meeting is also included as an addendum to these minutes.

SEC Proposes Conditional Exemption For Finders Assisting Small Businesses With Capital Raising

Date 07/10/2020

The Securities and Exchange Commission today voted to propose a new limited, conditional exemption from broker registration requirements for “finders” who assist issuers with raising capital in private markets from accredited investors.  If adopted, the proposed exemption would permit natural persons to engage in certain limited activities involving accredited investors without registering with the Commission as brokers.  The proposed exemption seeks to assist small businesses to raise capital and to provide regulatory clarity to investors, issuers, and the finders who assist them.

ESMA Issues Latest Double Volume Cap Data

Date 07/10/2020