The U.S. District Court for the Southern District of New York denied Coinbase's Motion for Judgment on the Pleadings in the SEC's case against the exchange, allowing the SEC to proceed with its lawsuit. The SEC alleges that the Coinbase operates as an unregistered exchange, broker and clearing agency.
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The Massachusetts Supreme Judicial Court held that the Secretary of State could reasonably adopt a new rule that holds broker-dealers to a fiduciary standard when making recommendations to customers.
In the United States District Court for the Southern District of New York, the SEC obtained a final judgment against an adviser and his UK-based financial services firm for engaging in billions of dollars of U.S. securities transactions without registering as a broker-dealer.
The U.S. Court of Appeals for the Second Circuit denied a petition filed by several attorneys general and investment advisers challenging the legality of the SEC's adoption of Regulation Best Interest.
The U.S. District Court for the District of Nebraska granted a motion for the class certification of a claim for damages against a broker-dealer for mishandling customer orders.