A convertible note financing business and its owners settled SEC charges for failing to register as a securities dealer.
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The SEC charged a firm and its sole officer for failing to register as a dealer in connection with its "convertible notes business."
The SEC Division of Examinations highlighted findings from its assessment of investment advisers’ preparedness for the cessation of LIBOR.
The SEC charged a broker-dealer for failing to file suspicious activity reports regarding OTC trades of low-priced securities. The SEC alleged the trades constituted a "red flag" as defined in the broker-dealer's own procedures.
The SEC staff issued a statement “in light of the now-certain transition away from LIBOR” reminding investment professionals of their obligations when recommending LIBOR-linked securities and related investment products and strategies, including interest rate swaps, municipal securities and securitizations.