Regulatory Actions – ICOs and Digital Trading

Regulators in the digital asset space are focusing a significant amount of attention to Initial Coin Offerings (ICOs) and digital asset trading.  Their activities have included addressing the lack of transparency of exchanges that trade digital assets, jurisdictional issues, and the need to consider registration or qualifying for an exemption for ICOs and cryptocurrency-related investments…. READ MORE

Digital Assets – Are You Ready?

The securities and futures industries have a long history of creating, distributing, and trading new and innovative products and asset classes. Innovation is not without risk and successful firms have typically introduced disciplined processes to achieve compliance within existing regulations, even when there are gray areas. For broker-dealers, the suitability rule (2111) is the guiding… READ MORE

SEC Risk Alert Shows Gaps in Firm Cybersecurity Programs

The SEC’s Office of Compliance Examinations and Inspections (OCIE) has released a Risk Alert with a brief summary of observations from its second round of cybersecurity exam sweeps, where it surveyed 75 broker dealers, investment advisors, and investment companies.  The Cybersecurity 2 Initiative was a more thorough follow-up to their 2014 Cybersecurity 1 Initiative.  The… READ MORE

Oyster Consultants to Speak at WAIS (Bermuda) Conference

Oyster Managing Director Hank Sanchez and Consultant Henry Komansky will be panelists at the World Alternative Investment Summit (WAIS) this week, held at the Fairmont Southampton Hotel in Southampton, Bermuda. Hank Sanchez will address the current SEC regulatory environment and anticipated rule changes on Friday during the Global and Bermuda Regulatory Debate panel. Hank brings… READ MORE

Fiduciary Status Under The New DOL Rule — Frequently Asked Questions

On April 6, 2016, the U.S. Department of Labor (DOL) released its final regulation (DOL Rule) defining fiduciary, which expands the circumstances under which financial professionals become fiduciaries for purposes of ERISA and the prohibited transaction provisions of the Internal Revenue Code, as a result of providing investment advice. The DOL also issued two new… READ MORE