Broker-Dealer Advisory & Counseling

Our attorneys have a deep understanding of the complex and constantly changing regulatory environment in which financial institutions operate. We advise both global and regional broker-dealers on all aspects of regulatory compliance. Our professionals serve a variety of needs, including trading, sales, and research advice; internal reviews and investigations; assisting with regulatory examinations; policies and procedures; and education and training. We have the depth of knowledge and experience needed to effectively counsel clients on all regulatory matters that impact their businesses in this fluid and often turbulent environment.

Looking Forward

The coming year will bring a change in administrations and with it, a change in leadership at the SEC. Expect renewed emphasis on SEC rulemaking and examinations of broker-dealers. Regulation BI became effective in 2020. SEC and FINRA examiners will review firm’ practices and procedures relating to Regulation BI in 2021. Regulators continue to show a keen interest in broker-dealers’ use and supervision of trading algorithms and management of trading risk more broadly. Cybersecurity remains a priority both to broker-dealers in protecting their customers and assets and to regulators concerned about the impact of cyber breaches on investors and the markets. And of course, the SEC and FINRA will continue to scrutinize broker-dealers’ digital assets activities.