The EB-5 program provides foreign investors who demonstrate that their investments create a minimum level of required job creation in the United States with a potential avenue to lawful permanent
Continue Reading Are EB-5 Investments Considered Securities?
SEC
New FINRA Rule 2040 Becomes Effective
By William Mack on
Posted in EB-5 Program
Yesterday, new FINRA Rule 2040 became effective. The rule was approved by the SEC earlier this year. Rule 2040(c) requires a broker-dealer who sells EB-5 securities disclose to investors …
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SEC Charges Two Businesses for Acting as Unlicensed Broker-Dealers in EB-5 sales
By William Mack on
Yesterday, the U.S. Securities and Exchange Commission (SEC) ordered a US-based foreign finder operation to cease and desist from operation as an unlicensed broker-dealer. The charges are some of the…
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U.S. Securities Regulators Take Notice of EB-5
By William Mack on
Posted in Securities Law
After a nationwide conference call of industry participants sponsored by agencies of the U.S. government and several years of cautionary discussions, through its recent actions, the agency that regulates securities…
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SEC, FINRA Issue Reports on Cybersecurity
By Greenberg Traurig on
Posted in Securities Law
Written by Terry R. Weiss and Matthew S. Johns
In the wake of recent cybersecurity breaches, the SEC and FINRA simultaneously issued reports this week to the securities industry summarizing cybersecurity examination findings and to investors recommending certain precautions to safeguard online investment information.
In its Risk Alert – Cybersecurity Examination Sweep Summary, the SEC describes the results from examinations of more than 100 broker-dealers and investment advisors, the relative split between the two being unspecified. Nevertheless, the findings reveal that the vast majority of broker-dealers and investment advisors have made cybersecurity a priority and implemented appropriate cybersecurity policies and programs. The findings also suggest that broker-dealers have more thorough cybersecurity policies and programs in place than investment advisors.Continue Reading SEC, FINRA Issue Reports on Cybersecurity
SEC Proposes Changes to Exchange Act Registration Requirements
By Greenberg Traurig on
Posted in Securities Law
Written by Rebecca G. DiStefano
On Dec. 18, 2014, the Securities and Exchange Commission proposed amendments to current rules under Section 12(g) of the Securities Exchange Act of 1934, as…
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OCIE Releases 2015 Examination Priorities
By Greenberg Traurig on
Posted in Securities Law
Written by Richard M. Cutshall and Arthur Don
On Jan. 13, 2015, the SEC’s Office of Compliance Inspections and Examinations released its annual list of examination priorities for 2015. This…
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New Background Check Obligations on the Horizon for Securities Broker-Dealers
By Greenberg Traurig on
Posted in Securities Law
Written by Richard M. Cutshall, Steven M. Felsenstein, and Carl A. Fornaris
On Dec. 30, 2014, the SEC approved a proposed rule change pursuant to which FINRA is…
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The Office of the Inspector General Releases Report Critical of the USCIS Administration of the EB-5 Regional Center Program
By Laura Foote Reiff ‡ on
Posted in Inspector General
On December 12, 2013, the Office of the Inspector General (“OIG”) for the Department of Homeland Security (“DHS”) released a long awaited report analyzing the United States Citizenship and Immigration…
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AILA Publishes Updated Summary of April 3, 2013, Joint SEC-USCIS Stakeholder Conference
By Dillon Colucci on
Posted in EB-5 Program, Securities Law
AILA recently updated their executive summary of the USCIS EB-5 Engagement with the Securities and Exchange Commission (“SEC”). The two page document contains a summary of the highlights from the…
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