The SDDco Client Update
The SDDco Client Update is an action oriented email prepared in-house, tailored to client needs, and sent as an adjunct to our online newsletter. Verified newsletter subscribers receive our Client Update once each month.
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Whether it be online shopping or online dating, what you see is not always what you get on the Internet. Many have been duped by gross exaggerations or outright false claims. The same is true for investors using the Internet. This July, the SEC’s Office of Investor Education and Advocacy issued an Investor Alert warning
Scams aren’t always as obvious as a traveling conman posing as a music man…or a “dethroned prince” emailing for your credit card. This is why the SEC’s Office of Investor Education and Advocacy (“OIEA”) recently issued the Investor Alert: 10 Red Flags That an Unregistered Offering May Be a Scam. Unregistered offerings or private placement are
A Commodity Futures Trading Commission (“CFTC”) Division of Market Oversight (“DMO”) no-action letter dated July 23, 2014, gives reporting parties more time to fulfill certain reporting requirements under the ownership and control final rule (“OCR Final Rule”). The OCR Rule since November 18, 2013, mandates the use of new and updated electronic reporting forms, which
On the agenda of a July meeting of the SEC Investor Advisory Committee (“IAC”) was whether to modify the term “accredited investor”, which would alter the criteria for investor participation in a private securities offering. While no final recommendations were issued, several members gave reasons to move forward. Mode of ”Accredited Investor” Reform Considered Per SIFMA’s notes of the
Summer segues to fall, a time of erratic weather patterns. When a natural disaster strikes, taxes are usually not your first thought. However, like other property, your tax and financial records can get damaged or lost, which is why the IRS released Tax Tips to Keep Your Records Safe. Moreover, businesses can be disrupted, prompting the IRS
On July 23, 2014, the SEC adopted amendments to rules governing money market funds (“MMFs”). The amendments address the risks of investor runs in MMFs and augment existing rules. The two-year transition period will enable MMFs and investors time to adjust their systems, operations, and investing practices. MMF Operation Changes Amendment will: Require institutional prime
On July 22, the SEC approved new FINRA Rule 2081 to impede broker-dealers from requiring that investors with claims allow the erasure of their complaints from public record as a term of a financial settlement. FINRA Rule 2081 Prohibited Conditions Relating to Expungement of Customer Dispute Information: As of July 30, 2014, New FINRA Rule 2081 provides that
The New York Department of Financial Services (“DFS”) issued proposed rules for a regulatory framework for New York virtual currency businesses. “BitLicense” makes New York the first state to put forward specific rules for firms exchanging virtual currencies such as the Bitcoin. In compliance with the proposed rules, all businesses that engage in “virtual currency business