Industry analysis, product news, and thought leadership from Loffa Interactive Group's team of settlement technology and compliance experts.
Redefining the Broker: A Closer Look at SEC Rule 34-99477 The Securities and Exchange Commission (SEC) has recently enacted Rule 34-99477, a pivotal amendment redefining what constitutes a broker, significantly impacting the regulatory landscape for securities transactions. This move aims to enhance oversight and market stability by focusing on entities that play a significant role […]
SEC Enforces Strict Compliance: Major Fines for Wall Street’s Off-Channel Chats In a striking move signaling the importance of adherence to regulatory standards, the Securities and Exchange Commission (SEC) has imposed $81 million in fines on several prominent broker-dealers and investment advisers, including well-known entities like Oppenheimer & Co. Inc and U.S. Bancorp. This action […]
The New SEC Rule: A Balancing Act Between Market Integrity and Industry Concerns The Securities and Exchange Commission (SEC)’s recent decision to classify hedge funds and proprietary trading firms that regularly trade U.S. Treasuries as dealers marks a significant shift in the regulatory landscape. This move, aimed at enhancing the oversight of firms central to […]
Lessons from Recent SEC Trade Suspensions In the ever-evolving financial market, adhering to regulatory compliance is not just a legal obligation but a cornerstone of corporate integrity and investor trust. Recent Securities and Exchange Commission (SEC) trade suspensions highlight critical areas where organizations often stumble. In this post, we’ll dissect these cases to understand common […]
Navigating Compliance: Lessons from JP Morgan’s SEC Whistleblower Rule Violation At Loffa Interactive Group, we are closely following the recent SEC enforcement action against J.P. Morgan Securities LLC (JPMS) for whistleblower protection rule violations. The firm has been fined $18 million for impeding clients from reporting potential securities law violations to the SEC. This development […]
Embracing a New Era of Regulatory Leadership: Commissioner Mark Uyeda’s Second Term at the SEC The Securities and Exchange Commission (SEC) recently announced a significant development that marks a continued era of steady regulatory leadership: Commissioner Mark T. Uyeda has been sworn in for his second term. As a company deeply invested in aligning our […]
In their most recent survey performed last year, Thomson Reuters asked Compliance professionals from more than 300 financial services firms what their biggest concerns and challenges were for 2016 regarding navigating the deep and turbulent waters of continuing industry regulations. The findings are intended to help firms with planning, resource, and direction and to allow […]
Five Important Steps in Preparing for an SEC Audit As a business owner, there are few things that induce quite as much stress as receiving the dreaded letter from the SEC alerting you to an impending audit. However, whether it’s an audit with cause or simply a routine review, there are a few steps that […]
In this post credit crunch era of modern banking, regulators continue to struggle to determine the most effective penalty for banking institutions found guilty of malfeasance. Historically, the most popular form of punishment has been to levy a fine. For many financial institutions though, regulatory fines have simply become a cost of doing business. This […]
As part of the Securities Exchange Act of 1934, SEC Rule 17a-3 governs record-keeping in relation to broker dealer trade communications. In this modern age of information both the velocity and complexity of these communications have increased exponentially, and many financial firms have found themselves struggling to find usable solutions for compliance with Rule 17a-3. […]
President Obama to meet with regulators to discuss the progress made in strengthening the financial system by implementation of the Dodd-Frank Wall Street Reform and Consumer Protection Act. Read the full article
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