Michael D. Wolk

Nov 21, 2024 | writersdigest.com | Michael D. Wolk

At a certain point, I confess, I stopped turning pages. Books and magazines piled up on my bedside table while, glued to my phone, I scrolled happily through my reading matter—sometimes digital versions of the very same spurned pages on my night table. WHY? (Think AI is bad for authors? The worst is yet to come.)Well, my phone is lighter, and I don’t need a reading light that might waken my spouse … but it’s not that.

Oct 8, 2024 | lexology.com | Michael D. Wolk |Charles Sommers |W. Hardy Callcott |Michael J. Ogershok |Thomas Archer

On September 20, 2024, the SEC approved proposed rule changes submitted by FINRA and the MSRB to require reporting of trades in most fixed-income securities and municipal securities to FINRA’s TRACE or the MSRB’s RTRS “as soon as practicable” but no later than one minute from the time the trade was executed, subject to certain exceptions for manual trades and firms with limited trading activity.

Apr 18, 2024 | lexology.com | Andrew Blake |John I. Sakhleh |Charles Sommers |Michael D. Wolk |Michael J. Ogershok |Jorge Ortiz

On March 6, 2024, in a unanimous vote, the U.S. Securities and Exchange Commission (SEC) adopted amendments to the disclosure requirements under Rule 605 of Regulation NMS for executions on covered orders in national market system (NMS) stocks (the Final Rule).1 The Final Rule seeks to modernize and enhance execution quality reporting and, among other things, (i) expands the scope of entities subject to Rule 605, (ii) modifies the categorization and content of order information required to be...

Aug 10, 2023 | lexology.com | W. Hardy Callcott |Jay G. Baris |James Brigagliano |Benson R. Cohen |Ranah Esmaili |Nathan J. Greene | +3 more

On July 26, 2023, the U.S. Securities and Exchange Commission (SEC or Commission) proposed new rules for broker-dealers (Proposed Rule 15(1)-2) and investment advisers (Proposed Rule 211(h)(2)-4) on the use of predictive data analytics (PDA) and PDA-like technologies in any interactions with investors.1 However, as discussed below, the scope of a “covered technology” subject to the rules is much broader than what most observers would consider to constitute predictive data analytics.

Aug 8, 2023 | lexology.com | W. Hardy Callcott |Jay G. Baris |James Brigagliano |Benson R. Cohen |Ranah Esmaili |Nathan J. Greene | +2 more

On July 26, 2023, the U.S. Securities and Exchange Commission (SEC or Commission) proposed new rules for broker-dealers (Proposed Rule 15(1)-2) and investment advisers (Proposed Rule 211(h)(2)-4) on the use of predictive data analytics (PDA) and PDA-like technologies in any interactions with investors.1 However, as discussed below, the scope of a “covered technology” subject to the rules is much broader than what most observers would consider to constitute predictive data analytics.