Latest Covid-19 News & Resources
Filter
FINRA provides cybersecurity alert containing measures firms should consider in adjusting to Covid-19
On March 26, FINRA released a cybersecurity alert providing FINRA firms and associated persons with measures they can take to help strengthen their cybersecurity controls in areas where risks may increase in the current environment. The alert contains recommendations concerning the security of...
InfoBytesCalifornia Department of Real Estate cancels real estate salesperson broker license exams through April 30
On March 26, the California Department of Real Estate announced that it is cancelling real estate salesperson broker license exams in all exam centers through April 30 in order to comply with state and local public health agencies ordering residents to shelter in place to slow the spread of Covid-...
InfoBytesFINRA provides regulatory operations update
On March 23, FINRA issued a statement providing that it will focus its regulatory operations on the following areas: (i) risk monitoring, market surveillance, and enforcement programs, prioritizing matters that present the most risk in this current environment; (ii) monitoring for fraud, illicit...
InfoBytesCalifornia State Assembly Banking and Finance Committee issues memorandum on Covid-19 banking and finance issues
On March 20, the California State Assembly Banking and Finance Committee issued a memorandum noting that state authority over large national banks “is significantly constrained by federal law.” The memorandum provides that, under the National Bank Act and related case law, courts have widely upheld...
InfoBytesFINRA and SEC provide temporary extension of time for submission of fingerprint information
On March 20, the SEC issued an order that provides a temporary exemption until May 30, 2020, from the fingerprinting requirements of Securities Exchange Act Rule 17f-2 for FINRA members and their employees. On March 24, FINRA provided a temporary extension of time for submission of fingerprint...
InfoBytesFDIC releases letter detailing temporary alternative procedures for sending supervision-related mail and email
On March 26, the FDIC released a letter detailing temporary alternative procedures for sending supervision-related mail and email to the FDIC. The letter applies to all FDIC-supervised institutions with total assets under $1 billion. The letter provides that the FDIC will use its Secure Email...
InfoBytesFINRA provides guidance on Covid-19 impact on FINRA-administered exams
In March, FINRA announced that Prometric is closing its centers in the United States and Canada for a period of 30 days, starting March 18, 2020. Candidates for taking FINRA-administered exams who have an existing appointment may reschedule their appointment to a future date without incurring a...
InfoBytesFINRA posts FAQs related to regulatory relief during the Covid-19 pandemic
Since March 18, FINRA has been maintaining and updating FAQs related to regulatory relief due to the Covid-19 pandemic. The FAQs discuss questions concerning, among other things, advertising regulation, anti-money laundering, best execution for buying and selling securities, broker-dealer...
InfoBytesFINRA releases pandemic-related guidance in connection with Company-Related Action submissions
On March 12, FINRA released guidance in connection with Company-Related Action submissions. The guidance provides that FINRA’s Market Operations Department will not deem a Company-Related Action as late for purposes of assessing late fees if an issuer is unable to provide notice sufficiently in...
InfoBytesIdaho regulator issues remote work guidance to escrow licensees
On March 18, the Idaho Department of Finance issued guidance to entities licensed under the Idaho Escrow Act permitting licensed activities to be conducted from unlicensed residences. The Department stated it will not take action against a licensee so long as the licensable activities meet...
InfoBytes