Broker Dealer Regulation, 2022-2023 ed. (Vol. 15 & 15A, Securities Law Series)

Broker Dealer Regulation provides comprehensive coverage of all aspects of the complex topic of broker-dealer regulation. This wide-ranging treatment addresses the following key areas:

• Registration requirements, including:
  • Who must register
  • Badges of broker-dealer activity
  • Rule 3a4-1 safe harbor for issuers and their employees
  • Finders
  • Crowdfunding
  • Exemption for Non-U.S. broker-dealers
  • Bank registration issues
• Registration process, including:
  • Form BD requirements
  • SRO membership
  • Qualification and registration of associated persons
  • Disqualified persons
  • Form U4 requirements
  • Form U5 requirements
  • Continuing education requirements
• SEC/FINRA regulatory requirements, including:
  • Customer account agreements and related matters
  • Regulation Best Interest and Form CRS requirements
  • Sales activities
  • Regulation S-P
  • Compensation, gifts, business entertainment, and outside business activities
  • Advertisements and other communications with the public
  • Supervision, oversight, and risk controls
  • SIPC requirements
• Regulation under the Securities Act of 1933, including:
  • Who is an underwriter?
  • Rule 144 – a means to avoid underwriter status
  • Dealer exemption (Section 4(a)(3))
  • Prospectus dissemination obligations when offering or selling securities
  • Liability
• Using electronic media to deliver information to, and communicate with, customers
• Obligations in connection with municipal securities offerings
• Selected issues in securities arbitration
• Breaches of fiduciary duties and related fraud, including:
  • The “shingle” theory
  • Churning
  • Telemarketing abuses
• FINRA/SEC examinations and investigations