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
The SEC adopted the 2024 annual budget of the Public Company Accounting Oversight Board along with the related annual accounting support fee.
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."
SEC Chair Gary Gensler identified areas of noncompliance in the securities markets, advocating for holding bad actors accountable by "prosecut[ing] dishonesty."