Compliance & Regulatory Updates

SEC Regulatory Focus in 2019 – What it Means for Bermudian Firms

The SEC’s Office of Compliance Inspections and Examinations (“OCIE”) released its 2019 Examination Priorities on December 20, 2018. While most of these priorities may not have a direct impact on firms located in Bermuda, many firms have affiliates or branches in the U.S. that will be affected. Of particular note are the priorities around digital assets, cybersecurity and money laundering.

Act Now – FINOP Changes Required October 1st

FINRA is changing its registration requirements for Chief Financial Officers (CFOs) and Chief Operating Officers (COOs).  The new registration rules take effect October 1, 2018. It is more than just a title change.  The requirement for certain firms to have a CFO/COO (requiring Series 27/28 licensing) is being applied to ALL firms, and the registration… READ MORE

FINRA Registration Reset

Last October, the SEC approved sweeping, new FINRA registration rules that consolidated and restricted existing NASD and NYSE registration rules.  The rules affected are FINRA Rules 1210, 1220, 1230, and 1240. The rules are effective October 1, 2018.  Over the next few weeks, Oyster will post blogs on the following topics to help you understand… READ MORE

Digital Assets – The Future of the Financial Services Industry

  Are your clients asking about Bitcoin and other digital assets? Do you want to add digital assets to your business model? Are you wondering how blockchain technology is changing the face of the financial services industry?   If you answered YES to any of these questions, watch Oyster’s latest webinar:     In this… READ MORE

Bermuda Moving to Become Fintech Jurisdiction of Choice

Bermuda’s regulatory framework for digital assets, ICOs and virtual currencies As the digital asset and blockchain industries continue to gain ground among investors, brokers and exchanges, the island is hoping to capitalize on the new market.  Bermuda’s government has taken steps to strengthen its regulatory regime, making it a selling point for fintech companies thinking of… READ MORE