The U.S. Court of Appeals for the Second Circuit denied a petition filed by several attorneys general and investment advisers challenging the legality of the SEC's adoption of Regulation Best Interest.
The New York State Department of Financial Services extended the deadline for regulated entities to submit their plans to address the end of LIBOR and the associated risks. The deadline was extended to March 23, 2020.
The Massachusetts Securities Division of the Office of the Secretary of the Commonwealth proposed a fiduciary conduct standard for broker-dealers, agents, investment advisers and investment adviser representatives.
SIFMA urged the New Jersey Bureau of Securities to wait for Regulation Best Interest to be fully implemented before enacting a proposal that would impose state-specific fiduciary duties on broker-dealers.
At a recent webinar, Cadwalader attorneys reviewed anti-money laundering developments affecting cannabis businesses, broker-dealers and blockchain, and discussed draft legislation affecting the Bank Secrecy Act.
New York State Department of Financial Services Superintendent Maria Vullo reminded regulated entities that they must be in full compliance with the requirements of NYDFS cybersecurity regulation by March 1, 2019.
The Enforcement Section of the Massachusetts Securities Division of the Office of the Secretary of the Commonwealth filed a Complaint against a broker-dealer and its agent for violating state securities laws.
The New York Department of Financial Services proposed updating the existing suitability regulation in order to establish a "best interest" standard for life insurance and annuity product licensed sellers.