Quarterly U.S. Regulatory Roundup – Fourth Quarter 2020

For a detailed synopsis of the recent news and publications issued by the Financial Conduct Authority (FCA), read our December 2020 Regulatory Focus Newsletter.

For additional news and developments, visit Global Relay’s blog.

SEC Renames Office of Compliance Inspections and Examinations
SEC Updates Regulatory Framework for Fund of Funds Arrangements
SEC Adopts Modernized Regulatory Framework for Derivatives Use by Registered Funds and Business Development Companies
SEC Updates Auditor Independence Rules
SEC Harmonizes and Improves “Patchwork” Exempt Offering Framework
Risk Alert: Observations from Examinations of RIAs—Supervision, Compliance and Multiple Branch Offices
SEC Adopts Rules to Facilitate Electronic Submission of Documents
Risk Alert: Investment Adviser Compliance Programs
SEC Adopts Modernized Marketing Rule for Investment Advisers

FINRA Alerts Firms to Phishing Email Requesting Them to Respond to Fraudulent FINRA Survey
Cyber Security Background: Authentication Methods
FINRA Adopts Rule to Limit a Registered Person from Being Named a Customer’s Beneficiary or Holding a Position of Trust for or on Behalf of a Customer
Broker-Dealer, Investment Adviser Firm, Agent and Investment Adviser Representative and Branch Renewals for 2021

CFTC Unanimously Approves a Final Rule Amending Form CPO-PQR
CFTC Staff Issues Advisory on Virtual Currency for Futures Commission Merchants
Coronavirus Update—Relief from the Onsite Annual Inspection of Branch Offices and Guaranteed IBs
CFTC Approves Amendments to Swap Clearing Requirement Exemptions
CFTC Unanimously Approves Final Rule for Granting Exemptions from Derivatives Clearing Organization Registration
CFTC Staff Extends Existing Brexit-Related Relief to Provide Market Certainty

Opening Remarks at National Investment Adviser/Investment Company Compliance Outreach 2020: The Role of the CCO—Empowered, Senior and With Authority
CFTC Charges Wisconsin Firm and its Manager with Registration, Disclosure and Recordkeeping Violations
SEC Wins Virtual Bench Trial Against Analyst Charged with Aiding and Abetting New York Pension Fund Pay-To-Play Scheme
SEC Charges Investment Adviser with Fraudulent Securities Offering
SEC Charges Former Finance Department Employee with Insider Trading
SEC Settles with Investment Adviser Who Failed to Disclose Conflicts of Interest and Misled Advisory Clients About the Terms of Their Investments
SEC Charges Corporate Controller and Brother-in-Law with Insider Trading Ahead of Merger Announcement

Quarterly U.S. Regulatory Roundup - Fourth Quarter 2020