What does regulation SP stand for?
The SEC’s Regulation S-P This means the Commission and other federal agencies are to implement standards and securities (notice requirements and restrictions) on a financial institution’s ability to disclose nonpublic personal information about its consumers.
What does the SEC’s regulation SP require?
Under the SEC’s Regulation S-P, firms are required to have policies and procedures addressing the protection of customer information and records. The rule also requires firms to provide initial and annual privacy notices to customers describing information sharing policies and informing customers of their rights.
Does regulation SP apply to institutional investors?
A: Yes. Regulation S-P defines a customer relationship as a continuing relationship between a consumer and a financial institution.
What is required on a privacy notice?
Your notice must accurately describe how you collect, disclose, and protect NPI about consumers and customers, including former customers. Your notice must include, where it applies to you, the following information: Categories of affiliates and nonaffiliated third parties to whom you disclose the information.
Can broker-dealers use testimonials?
Broker-dealers are permitted to use testimonials in their advertising. Under both NASAA rules and the Investment Advisers Act of 1940, IAs and IARs are prohibited from using testimonials in advertising – it makes no difference if the testimonial is paid or unpaid.
What is regulation SHO?
Regulation SHO is a 2005 SEC rule that governs short selling. The regulation introduced the “locate” and “close-out” requirements aimed at curtailing naked short selling.
Who does regulation SP apply to?
[1] Reg S-P applies to all broker-dealers, investment advisers, and investment companies operating within U.S. securities markets, regardless of whether they have satisfied their registration obligation. Notably, OCIE only examines registered entities.
Who does Regulation SP apply to?
What transaction does not require a privacy notice?
If the financial institution does not intend to share a consumer’s nonpublic personal information with nonaffiliated third parties, no initial notice is required. There are, however, some limited situations in which the regulation allows a bank to delay delivery of initial privacy notices.
Does SEC allow testimonials?
The Testimonial Rule prohibits the use of a testimonial of any kind concerning the investment adviser or concerning any advice, analysis, report or other service rendered by the investment adviser in an investment adviser’s advertisement.
What is the process of commissioning a service?
What is commissioning? Commissioning is the continual process of planning, agreeing and monitoring services.
What is the legal definition of a commission?
Legal Definition of commission 1 : a formal written authorization to perform various acts and duties a notary’s commission 2 a : authority to act for, in behalf of, or in place of another b : a task or matter entrusted to one as the agent for another
What does it mean to re-commissioning a building?
The Re-Commissioning Process brings a high quality delivered project to the standards set by either the original or revised Owner’s Project Requirements. A Re-Commissioning Process can typically be applied relatively inexpensively since documentation is available from the original commissioning of the building.
What does it mean to be commissioned in the military?
An official document issued by a government, conferring on the recipient the rank of a commissioned officer in the armed forces. b. The rank and powers so conferred. tr.v.com·mis·sioned, com·mis·sion·ing, com·mis·sions 1. To grant a military commission to. 2. a.