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Mark T. Uyeda on SEC's new rule certain broker-dealers join FINRA for oversight:

Mark T. Uyeda on SEC's new rule certain broker-dealers join FINRA for oversight:

"Given the lack of evidence supporting this mandatory extension of FINRA membership, coupled with the clear potential for the unintended negative consequence of a reduction in liquidity, I am unable to support it" source: Thank you, Chair Gensler. Flawed Rationale in Support of the Amendments to Rule 15b9-1

"I want to address the critique that the SEC should play no part in the negotiations between sophisticated investors. To me these arguments ring hollow."

"I want to address the critique that the SEC should play no part in the negotiations between sophisticated investors. To me these arguments ring hollow."

"Relying on the parties’ sophistication alone, in the absence of regulation, will continue to leave investors exposed to unfair/harmful practices" Commissioner Caroline A. Crenshaw with fervent support for today's rule. Source: https://www.sec.gov/news/statement/crenshaw-statement-private-fund-advisers-082323 The Landscape Investor Base: As one legal

SEC Alert! SEC Enhances the Regulation of Private Fund Advisers. "The final rules will restrict certain other private fund adviser activity that is contrary to the public interest and the protection of investors."

SEC Alert! SEC Enhances the Regulation of Private Fund Advisers. "The final rules will restrict certain other private fund adviser activity that is contrary to the public interest and the protection of investors."

https://www.sec.gov/files/ia-6383-fact-sheet.pdf Press Release: The Securities and Exchange Commission today adopted new rules and rule amendments to enhance the regulation of private fund advisers and update the existing compliance rule that applies to all investment advisers. The new rules and amendments are designed to protect

SEC Adopts Amendments to Exemption that will enhance FINRA oversight. Gary Gensler stated "monthly trading volume valued in the hundreds of billions of dollars" has led to a "regulatory gap" these amendments aim to close this gap.

SEC Adopts Amendments to Exemption that will enhance FINRA oversight. Gary Gensler stated "monthly trading volume valued in the hundreds of billions of dollars" has led to a "regulatory gap" these amendments aim to close this gap.

Press Release: The Securities and Exchange Commission today adopted rule amendments that narrow the exemption from Section 15(b)(8) of the Securities Exchange Act of 1934, which requires any broker or dealer registered with the Commission to become a member of a national securities association unless the broker or

FINRA Names Bill St. Louis as New Head of Enforcement. St. Louis will be responsible for the management of approximately 350 enforcement staff in 11 offices across the United States and will report directly to FINRA CEO Robert Cook.

FINRA Names Bill St. Louis as New Head of Enforcement. St. Louis will be responsible for the management of approximately 350 enforcement staff in 11 offices across the United States and will report directly to FINRA CEO Robert Cook.

Steps into the ongoing Instinet enforcement matter... https://www.finra.org/media-center/newsreleases/2023/finra-names-bill-st-louis-new-head-enforcement FINRA announced today that it has appointed Bill St. Louis as Head of Enforcement, effective immediately. St. Louis, an Executive Vice President, was most recently head of FINRA’s National Cause and Financial Crimes Detection

FINRA: "Instinet experienced late reporting issues in connection with at least 26 billion events from November 2020 through December 2022"

FINRA: "Instinet experienced late reporting issues in connection with at least 26 billion events from November 2020 through December 2022"

Instinet had $50B of $67B waived in Excess Capital Premiums Waived over a 2 Year Period. Instinet also received a massive waiver on January 28, 2021. Wut Mean?: * Instinet was mandated to start reporting order data to the CAT Central Repository from June 22, 2020. * Instinet hired a third-party vendor

"Unrelated to the data conversion issue, Instinet experienced late reporting issues in connection with at least 26 billion events from 11/2020 through 12/2022, which constituted approximately 8% of the firm's CAT reporting obligation for this period"

"Unrelated to the data conversion issue, Instinet experienced late reporting issues in connection with at least 26 billion events from 11/2020 through 12/2022, which constituted approximately 8% of the firm's CAT reporting obligation for this period"

FINRA says they knew & did not care! https://www.finra.org/sites/default/files/fda_documents/2020067139101%20Instinet%2C%20LLC%2C%20CRD%207897%20AWC%20gg.pdf Wut Mean?: * Instinet was mandated to start reporting order data to the CAT Central Repository from June 22, 2020. * Instinet hired a third-party