In January 2021 the SEC began taking an enhanced approach to Environmental Social and Governance (“ESG”) investing. Since then, the SEC has issued no less than five announcements addressing a range of issues including reviews of public company disclosure of ESG issues, adding ESG reviews to their 2021 Examination Priorities and the creation of a… READ MORE
Although still in the first quarter of 2021, the U.S. Securities and Exchange Commission (“SEC”) has issued four press releases/public statements on climate change appointments and initiatives: On February 1, 2021 the SEC announced the appointment of Satyam Khanna as a Senior Policy Advisor for Climate and ESG (“Environmental, Social and Corporate Governance”). ESG refers… READ MORE
SEC’s Division of Examinations (formerly OCIE) has released their Examination Priorities Report for 2021. While the release is not much of a departure from recent years, some of the older topics have been re-framed to include newer risks and practices. Among “relatively new” topics, the Division will be focusing on Fintech and Innovation, including Digital… READ MORE
On December 22, 2020 the SEC released its new Investment Adviser Marketing Rule, intended to modernize the regulatory framework. Most Investment Adviser firms will find a little bit of good news and a little bit of bad news within the 430 pages. The rule restructures frameworks, repeals as-yet-unspecified No-Action Letters and has new definitions for… READ MORE
It is a familiar issue. Innovation moves at lightning speed while regulators try to apply existing rules to products and technology never contemplated when the rules were enacted. By the time regulators succeed, the goalposts have moved. It is a frustrating but necessary dance. The industry wants to innovate, and regulators want to protect. This… READ MORE
The pandemic has changed how firms operate as offices close and staff work from home. Regulators have also had to change their examination practices to accommodate these changes. In this episode, Oyster Managing Director Ed Wegener, a former SVP and Midwest Regional Director of FINRA, shares his insider views on: the changes in the regulator’s… READ MORE
The SEC’s Office of Compliance Inspections and Examinations (OCIE) has issued a Risk Alert to provide broker-dealers with information about the scope and content of its initial examinations for compliance with Regulation Best Interest (Reg BI). For additional information about the requirements of Reg BI, please see our blog entitled SEC Adopts Reg BI. After… READ MORE