Stay up-to-date and in the know on everything happening in the compliance world as of Sept. 30, 2022.
Top five compliance articles
SEC published risk alert highlighting focus on new Marketing Rule – Author Paul Hastings
The SEC’s goal with these examinations is to encourage firms to familiarize themselves with the new Marketing Rule and ensure they are within compliance.
NASAA selects Andrew Hartnett as new president – Author Melanie Waddell
“I’m honored and humbled to have this opportunity, and I eagerly look forward to the year ahead and working with my colleagues on the pocketbook issues that are so important to main street investors,” Said Hartnett.
State regulators see decline in enforcement actions – Author Mark Schoeff Jr.
Last month, the Financial Industry Regulatory Authority (FINRA) filed a proposal with the SEC which would implement changes to the expunge process. These changes include establishing a special roster of arbitrators to hear expungement requests, requiring a unanimous vote by arbitrators to approve expungement and allowing state regulators to participate in expungement hearings. Perhaps most controversial, the proposal would allow brokers to clear customer disputes from their record.
“That is a step. We’re looking forward to continuing to work with FINRA to come up with a better solution to the expungement problem. We’ll see what happens down the road,” said Maryland Securities Commissioner Melanie Senter Lubin.
The wrinkles with the SEC’s third-party assurance for emissions – Author Emile Hallez
The SEC’s proposed rule to make public companies report their climate risk is getting mixed reception from the investing world. For instance, traditional firms and industry groups have asked the regulator to soften the requirements the rule outlines, citing burdens on public companies to provide information which could lead to misreporting. There appears to a loophole in the proposed rule as well, while some groups claim, if implemented, this would be an example of regulatory overreach.