Many police unions’ collective bargaining agreements in large U.S. cities grant police officers wide-ranging protections as part of the disciplinary process, based on Bloomberg Law’s analysis of more than 50 union contracts. These include the ability of officers to remove reprimands from their records, inspect their personnel files, and appeal decisions made on grievances.
In a previous piece, we covered recent developments involving Regulation Best Interest (Reg BI) and Form CRS Relationship Summary (Form CRS) of the SEC’s standards package, and the confirmation of the rules’ compliance date of June 30. Now that we have entered into the compliance stage, it is time to focus on upcoming Securities and Exchange Commission and Financial Industry Regulatory Authority (FINRA) examinations of these rules, and walk through a sample self-assessment to help companies prepare.
Here at Bloomberg Law, we have been tracking developments with the SEC’s standards package since it was issued in June 2019, focusing on the package’s two main components: Reg BI and Form CRS. Following the rules’ compliance date of June 30, the next logical questions are clear: Are firms ready? And if so, are they prepared for an examination by the SEC or FINRA?
Buyback suspensions have calmed down. Looking at S&P 500 buyback activity, after reaching a peak of 35 buyback program suspensions in April, there were 16 suspensions in May, and none in June. That trend—from a peak in April to a complete drop-off in June—is also present when looking at all U.S. and global buyback suspensions.