A dually registered broker-dealer/investment adviser agreed to pay $18 million for violating the whistleblower protections rule by requiring that clients sign release forms prior to receiving settlements.
News & Insights
SEC Commissioner Jaime Lizárraga criticized the Investment Advisory Committee's draft recommendations on digital engagement practices that urged the SEC to amend existing rules instead of adopting new ones.
The SEC charged five unregistered broker-dealers and four unregistered investment companies with deceptive pre-initial public offerings.
SEC Commissioner Mark T. Uyeda highlighted current regulatory challenges concerning (i) the definition of "dealer" under the Exchange Act, (ii) the lack of guidance over cryptocurrencies and (iii) the handling of off-channel communications by broker-dealers.
SEC Commissioner Hester M. Peirce criticized the SEC for pursuing a federal case against a crypto asset company for registration failures which ultimately resulted in the "demise of the company."