Quarterly U.S. Regulatory Roundup – First Quarter 2020

Quarterly U.S. Regulatory Roundup – Second Quarter 2020

In the latest edition of the U.S. Regulatory Roundup, Duff & Phelps' Compliance and Regulatory Consulting practice outlines updates, enforcement and judicial actions from the SEC, FINRA and NFA.

COVID-19 Resources


U.S. Securities and Exchange Commission Update – Second Quarter 2020

  • COVID-19 Market Monitoring Group – Update and Current Efforts
  • SEC Adopts Offering Reforms for Business Development Companies and Registered Closed-End Funds
  • Risk Alert: Examinations Focusing on Regulation Best Interest and Form CRS
  • SEC Proposes Fund Valuation Practice Modernization
  • SEC Adopts Amendments to Financial Disclosures about Acquired and Disposed Businesses
  • SEC Adopts Temporary Amendments to Regulation Crowdfunding
  • Risk Alert: Examination Initiative: LIBOR Transition Preparedness
  • SEC Extends Relief for Fund Board Virtual Meetings
  • Risk Alert: Observations from Examinations of Investment Advisers Managing Private Funds


Financial Industry Regulatory Authority Update – Second Quarter 2020

  • FINRA Amends Arbitration Code to Expand Options Available to Customers if a Firm or Associated Person Is or Becomes Inactive
  • FINRA Issues Guidance on Protecting Senior Investors
  • FINRA Regulatory Notice 20-13: FINRA Reminds Firms to Beware of Fraud During the Coronavirus (COVID-19) Pandemic
  • FINRA Regulatory Notice 20-14: Sales Practice Obligations with Respect to Oil-Linked Exchange-Traded Products
  • Frequently Asked Questions About Advertising Regulation
  • FINRA Regulatory Notice 20-18: FINRA Amends Its Suitability, Non-Cash Compensation and Capital Acquisition Broker (CAB) Rules in Response to Regulation Best Interest


National Futures Association Update – Second Quarter 2020

  • CFTC Issues COVID-19 Customer Advisory on Fee Scams
  • Amendments to NFA Compliance Rule 2-29 and Related Interpretive Notice Now Effective
  • Notice I-20-21: Increase in Fraudulent Phishing Emails Warrants Member Vigilance


Enforcement Matters – Second Quarter 2020

  • SEC Charged Husband and Wife in Insider Trading Scheme
  • SEC Charged Multinational Financial Corporation with Providing Misleading Information to Retail Clients
  • CFTC Files Charges in $20 Million International Binary Options and Digital Asset Fraud Scheme
  • SEC Charged Former Registered Representative with Defrauding Investors
  • SEC Charged Investment Adviser Representative for Conducting Fraudulent “Cherry-Picking” Scheme
  • SEC Charged Private Equity Firm with Compliance Failures
  • SEC Awards Almost $2 Million to Whistleblower


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