SEC Chair Jay Clayton and Commissioner Hester M. Peirce encouraged members of the Asset Management Advisory Committee to provide recommendations on operational requirements in light of the lessons learned from the COVID-19 pandemic.
An investment firm was fined $2.9 billion by several authorities for its failure to (i) properly oversee its operations, (i) maintain internal controls and (iii) conduct proper risk management, with regard to its employees' involvement in improper payments to foreign officials.
SEC Commissioner Elad L. Roisman urged financial regulators to consider the benefits of applying certain elements of current oversight of the equity markets to the market for U.S. government securities.
The SEC and the New York Attorney General’s office penalized a broker-dealer for a combined amount of $37 million for misleading clients about the performance of an order router that primarily routes equity orders to dark pools. The firm paid an additional $3.5 million to FINRA in a related settlement.