The CFTC and the DOJ charged the principal of a cryptocurrency escrow company for making false statements to two customers who had given the principal $7 million that their bitcoin would be "safeguarded" by his company.
A former Chief Compliance Officer/General Securities Principal settled FINRA charges for failing to (i) update employee forms concerning reportable events in a timely manner and (ii) provide required annual FINRA reports.
The New York Department of Financial Services requested comments on proposed revisions to cybersecurity rules that apply to a wide range of insurance, banking and financial services companies under its supervision.
A broker-dealer subsidiary of a life insurance company agreed to pay a $1.75 million fine to settle charges that it had committed supervisory failures in connection with the sale of variable annuities. FINRA found that the subsidiary established a compensation scheme that exacerbated conflicts of interest.