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Prominent Financial and Regulatory Counselors

Compliance & Regulation

Broker-dealers, RIAs, CTAs, futures introducing brokers, FCMs, CPOs, proprietary trading firms, electronic traders, market makers, and other financial firms exist in a complex and heavily regulated industry. To avoid regulatory pitfalls, these firms must maintain a culture of compliance, starting with filings and internal documents at formation, and continuing through review of marketing materials, approval of client communications, registration of additional traders, advisers, or personnel, ongoing oversight of operations, required annual filings, and amendments to respond to the evolving industry regulations. Regulators have little tolerance for a firm that has failed to keep pace with regulatory changes or failed to update its own compliance documentation to reflect internal changes to the firm’s technology or operational business.

Lawrence Kamin’s regulatory team provides sophisticated and customized regulatory and compliance counsel which is protected by the attorney-client privilege. We have decades of experience shepherding a broad cross-section of the financial service community through the complex regulatory formation and registration process. We regularly design internal systems and internal controls, prepare tailored procedures, codes of ethics, insider trading policies, business continuity plans, privacy notices and procedures, client agreements, proprietary trading agreements, and other documents necessary to help our clients form, register, and operate registered investment advisers, broker-dealers, futures commission merchants, commodity trading advisers, proprietary trading firms, and other registrants, including private equity and hedge fund advisers.

Our representation starts with a legal and compliance consultation so that we can understand how the client’s business actually operates and how the firm’s compliance program and written procedures need to be customized to fit the client’s unique operations. Whether a client is setting up a compliance program for the first time or revising an existing program, we can customize the client’s compliance system so that it aligns with the client’s actual business goals.

The broad experience Lawrence Kamin attorneys possess enables our team to design and implement compliance systems and internal controls that satisfy regulators without unnecessarily complicating the life of the firm’s CCO and CEO. Because compliance procedures only work if the client implements them, we work with our clients to make sure they understand the program, how it fits into the client’s technology and other platforms, and the process for following the program to be in compliance.

To ensure our clients can proactively adjust their procedures as expectations change, our attorneys participate in the organizations that monitor and inform the evolution of the regulatory environment and keep an open line of communication with regulators themselves.

Supreme Court Strengthens Protection of “Confidential” Information Under FOIA
FINRA Warns Firms Not to Lie or “Obfuscate” When Clients Ask About a Departed Rep
Supreme Court Holds Annuities Are Not “Securities” Subject to Illinois Securities Department Regulation
With the Imminent Rollout of the New AML Rules, Compliance Training is Key
Equity Indexed and Variable Annuities: What are the Limitations of a State Securities Regulator’s Authority Over Their Sales Practices? (The ABA Blue Sky Bugle Newsletter, March 2018)
SEC Amends Financial Responsibility Rules, Customer Asset Protection, the Early Notification Rule and the Books & Records Rules for Broker-Dealers
Outside Business Activity*, Practical Compliance and Risk Management for the Securities Industry
When Does A Broker-Dealer Become an Investment Adviser?
Clearing Arrangement for Introducing Broker-Dealers
Registration and Compliance Issues Facing Foreign Broker Dealers
Outside Business Activity (Part 3 of 3)
Outside Business Activity (Part 2 of 3)
Outside Business Activity (Part 1 of 3)
National Society of Compliance Professionals: Outside Business Activity
FINRA Proposes Guidance with Respect to International Prime Brokerage Transactions Effecting United States Executing Brokers, Prime Brokers and Custodians, Practical Compliance & Risk Management for the Securities Industry
Thoughtful Analysis – Key to Successful Compliance a Primer for New Compliance Officers
Clearing Arrangements for Introducing Firms – Who’s Responsible?
Uniform Definition of Branch Office Explained and Clarified in New FINRA and NYSE Releases
Critical Elements of an Effective Supervisory Structure
Key Points for Introducing Broker-Dealers to Understand in Connection with Clearing Arrangements
Impact on Broker-Dealers From the New SEC Rule Narrowing the Exemption for Broker-Dealers From the Investment Advisers Act
Broker-Dealer Supervision of Branch and Remote Offices
A Trap for the Unwary Attorney SEC Rule 13b2-2: Improper Influence on Conduct Audits
Amendments to SEC Custody Rule 206(4)-2 Will Affect All Investment Advisers
Personal Trading Policies and Procedures Including Insider Trading Rules
Broker-Dealer Supervision and Surveillance
Research Analyst Conflicts
Broker-Dealer Compliance, Futures Industry Association
Post-Enron Corporate Responsibility and Related Reforms
SEC Proposed Rule 13b2-2: Improper Influence on Conduct on Audits
Conflicts Regarding Research Recommendations
The Sarbanes-Oxley Act of 2002 Impact on Broker-Dealers
A Pool Too Big for a FCM or a Broker-Dealer
Anti-Money Laundering Provisions for Broker-Dealers
Advanced Concepts of Broker-Dealer Compliance
Supervision of Branch Offices, OSI’s and Offsite Brokers and Independent Contractors
Securities Sites and Online Trading Become Regulatory Priorities
Regulation of Electronic Communication, Execution and Delivery of Documents to Customers of Broker-Dealers
Regulation of Electronic Communication, Execution and Delivery of Documents to FCM/BDs
When is an FCM, CTA or Pool a Securities Broker-Dealer, an Investment Adviser or an Investment Company Under the Securities Laws?
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† Select attorneys have received this recognition
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