Department of Labor Client Alert | October 2021

Practus LawLegal Insights

US Dept of Labor

Department of Labor’s New Proposal on the Fiduciary Duty Rule Would Reset Standards to Allow Use of ESG Criteria Authored by Richard Pasquier, Ethan Corey, Karen A. Aspinall On October 14, 2021, the US Department of Labor (the “Department”) published in the Federal Register a proposed rule (“Proposal”) that would reverse many of the changes included in the final rule (the “2020 Final … Read More

FINRA Issues Regulatory Notice to Inform Firms of FinCEN’s AML/CFT Priorities

Practus LawLegal Insights


Authored by Robert Moreiro On October 8, the Financial Industry Regulatory Authority (FINRA) issued Regulatory Notice 21-36 (FINRA Encourages Firms to Consider How to Incorporate the Government-wide Anti-Money Laundering and Countering the Financing of Terrorism Priorities Into Their AML Programs).  The Regulatory Notice informs member firms of the AML/CFT Priorities and the Statement.  The Regulatory Notice also encourages member firms to … Read More

Helpful Tax Tips for 2021

Robert ElwoodLegal Insights

2021 tax season

As the calendar year draws to a close, why not give yourself the gift of tax savings? The following are some benefits of these strategies: Max out your retirement account if you’re not retired. Whether you have an IRA, a 401(k), or a 403(b), saving the maximum allowed by the IRS not only sets you up for greater financial security … Read More

“Money & Infrastructure – A Primer” by Robert Fried Featured on ATLP

Practus LLPLegal Insights

infrastructure construction and work

Money & Infrastructure – A Primer Authored by Robert Fried  Original Article Published on the Association of Transportation Law Professionals Article Overview This article, Money & Infrastructure – A Primer, is the first part of an ongoing series by Robert Fried focused on infrastructure and construction in the United States. Future updates will include specific comments from the transactional and … Read More

FinCEN Issues AML/CFT Priorities

Practus LLPLegal Insights

fincen cybercrime protection

Authored by Robert Moreiro On June 30, 2021, the Financial Crimes Enforcement Network (FinCEN)  issued priorities for anti-money laundering and countering the financing of terrorism (AML/CFT) policy (the “AML/CFT Priorities”) FinCEN consulted with other relevant Department of the Treasury offices, as well as Federal and State regulators, law enforcement, and national security agencies.  The Priorities identify and describe the most significant AML/CFT … Read More

Listen to the Patent Baron Podcast With Janet Hallahan

Practus LLPLegal Insights

lock on screen rewpresenting cybersecurity

Janet V. Hallahan Discusses Cybersecurity on The Patent Baron Podcast Listen to Episode 21 of the Patent Baron Podcast featuring Practus Partner, Janet V. Hallahan as she discusses the topic of cybersecurity. Listen in as they set the landscape of cybersecurity, and then run through an example of how a cyber attack can impact businesses large and small. You’ll learn … Read More

Wrap Fee Programs Are Being Scrutinized by the SEC

Practus LLPLegal Insights

Wrap Fee Programs

Authored by Robert Moreiro On July 21, 2021, the U.S. Securities and Exchange Commission (“SEC”) Division of Examinations issued a new risk alert discussing the findings from recent examinations of more than 100 investment advisers registered with the SEC associated with wrap fee programs. Wrap fee programs can be called by several different names, such as: asset allocation programs, asset management programs, investment management programs, … Read More

SEC Staff Again Focuses on Principal and Cross Trades In Latest Risk Alert

Practus LLPLegal Insights

international cross trades map

Authored by Karen A. Aspinall On July 21, 2021, the Division of Examinations issued a new Risk Alert – Observations Regarding Fixed Income Principal and Cross Trades by Investment Advisers1 from an Examination Initiative.  This is a follow-up to a Risk Alert issued in September 2019,2 which highlighted the most common compliance issues observed by the staff related to principal … Read More

FINRA Levies Record Fine Against Robinhood Financial

Practus LLPLegal Insights

robinhood app on device

Authored by Ethan Corey & Robert Moreiro Carl Reiner: “Did Robin Hood really steal from the rich and give to the poor?” 2000 Year Old Man (Mel Brooks): “No, he didn’t. He stole from everybody and kept everything.” Carl Reiner: “How did legend spring up?” 2000 Old Man: “How did legend spring up?  He had a fellow, Marty – Marty … Read More

SEC Releases 2021 Regulatory Agenda

Practus LLPLegal Insights

Securities and Exchange Commission (SEC) released its Spring 2021 Unified Agenda of Regulatory and Deregulatory Actions

Authored by Ethan Corey & Alex Alberstadt Introduction: The Chair’s Agenda & Regulatory Priorities On June 11, 2021, the Securities and Exchange Commission (SEC) released its Spring 2021 Unified Agenda of Regulatory and Deregulatory Actions (regulatory agenda).  This particular regulatory agenda is noteworthy for a few reasons.  One, it is the first regulatory agenda issued by the SEC since Gary Gensler … Read More