FINRA stated that marketing materials should reflect the fact that many private placements are either illiquid or speculative in nature, and should "balance claims of these investments' benefits by disclosing these risks."
The results of a new survey concerning the implication of market volatility on the transition from LIBOR showed that participants are progressing on "operation[s], risk, infrastructure, systems re-tooling, interactions with critical third parties, [and] meeting governance guidelines."
U.S. Department of Housing and Urban Development Secretary Benjamin S. Carson and Federal Housing Finance Agency Director Mark A. Calabria testified on recent departmental initiatives to support the housing market.
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.
The U.S. District Court for the Southern District of New York held that certain syndicated loans sold to institutional investors are not "securities" and rejected claims of violations of federal and state securities laws.