Morgan Stanley Smith Barney, LLC agreed to pay an $8 million penalty to settle SEC charges alleging that the firm, which was dually registered as an investment advisor and broker-dealer, had failed to implement written compliance policies and procedures.
The MSRB filed amendments to delay municipal fund reporting requirements related to underwriters of programs under the Achieving a Better Life Experience Act of 2014. The amendments would delay reporting until August 29, 2018.
The SEC requested comments on a FINRA proposal to transfer NASD Rules on Investment Company Securities to the FINRA Rulebook, and to make only "non-substantive, technical changes to the text." The request for comments was published in the Federal Register.
FINRA issued two notices as part of an initiative to conduct retrospective rule reviews on an ongoing basis. FINRA requested comments on the effectiveness and efficiency of its (i) communications with the public rules and (ii) gifts, gratuities and non-cash compensation rules. According to FINRA,...
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