Regulatory Outlook | 10.18.21
SEC and FINRA Weighing New Crypto Rules Against Potential Overreach
In a recent panel that included SEC Commissioner Hester Peirce, FINRA CEO Robert Cook said his agency is considering new rules dealing with the "narrow issue" of disclosures for wealth managers and other members offering certain cryptocurrency assets. Cook stressed that any possible new FINRA standards would have a subdued effect. He described the issue as "a question mark" warranting additional industry feedback about situations when firms or their representatives are "the gatekeeper or the front end offering products to customers that may not be securities products."
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