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FINRA Targets Brokers Hawking Crypto, Law360

November 17, 2022

Law360 features partner Ignacio Sandoval in an article covering how the Financial Industry Regulatory Authority (FINRA) recently announced that it is conducting a targeted examination of broker-dealer practices related to retail communications about crypto asset products and services.

“I think the fact that it's coalescing around a lot of issues happening in the crypto industry right now, that we need to highlight this,” said Ignacio, discussing the timing of the sweep.

One thing that stood out to him about the notice was FINRA’s definition of communications.

“I think that's why they're honing in on this," he said.

“Because when the communications go out, the broker-dealer and the crypto affiliate, or even the advisory affiliate, they're all effectively using the same trade name.”

Read the full Law360 article >>