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.
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A U.S.-based global chemicals company settled SEC charges for bribery and recordkeeping and internal accounting controls failures in violation of the Foreign Corrupt Practices Act.
Five broker-dealers, three dually registered broker-dealers and investment advisers, and two affiliated investment advisers settled charges with the SEC and CFTC for recordkeeping violations after failing to preserve electronic business-communications made using their personal devices.
The SEC set an effective date of November 13, 2023 and outlined compliance dates for significant new regulation of private fund advisers under the Advisers Act.
A broker-dealer/investment adviser settled charges with the SEC for violating recordkeeping requirements in connection with its recording of expenses incurred from the broker-dealer's underwriting activities.