The DOJ filed a $20 million civil forfeiture Complaint in the U.S. District Court for the District of Alaska alleging violations of the International Emergency and Economic Powers Act and Iranian Transactions and Sanction Regulations violations.
Several industry associations provided commentary on a CFTC proposal to apply federal speculative position limits to 25 "core referenced futures contracts," including futures and options linked to those contracts and economically equivalent swaps.
In a briefing before the Energy and Environmental Market Advisory Committee, the CFTC's Market Intelligence Branch concluded that "the derivatives markets appear resilient in the face of lower liquidity and historic volatility and volume."
The Investment Adviser Association and North American Administrators Securities Association offered opposing recommendations to the SEC on its proposal to amend the definitions of "accredited investor" and "qualified institutional buyer."
The SEC charged the former CEO and president of a Nasdaq-traded security technology company and three other individuals in a fraudulent broker bribery scheme. The DOJ filed charges against one of the individuals in a parallel action.
An investment fund challenged an IRS determination that various contracts entered into between the fund and an investment bank resulted in the fund having effective ownership of the positions that were the subject of the contracts.
A U.S. District Court held that compliance communications are not protected by attorney-client privilege or the work-product doctrine, and that the SEC can force an investment advisor to produce documentation of such communications.
The CFTC Office of the Inspector General highlighted significant deficiencies in the agency's Data Governance Program and advised the CFTC to either update the existing Integrated Surveillance System platform or transfer to a better platform.
The U.S. District Court of the Northern District of California denied a German automaker's motions to dismiss securities fraud claims arising from the automaker's alleged material misrepresentations and omissions concerning its emission reports.