A municipal securities firm settled FINRA charges for failing to file complete and timely quarterly reports with the Municipal Securities Rulemaking Board and for failing to establish, maintain, and enforce an adequate supervisory system.
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The SEC adopted a rule that any SEC-registered central clearing agency that provides central clearing of U.S. Treasury securities ("USTs") shall require its members to centrally clear (i) most repurchase and reverse repurchase transactions in USTs to which it is a counterparty and (ii) certain cash market purchases and sales of USTs.
SEC Commissioner Jaime Lizárraga criticized the Investment Advisory Committee's draft recommendations on digital engagement practices that urged the SEC to amend existing rules instead of adopting new ones.
The SEC charged five unregistered broker-dealers and four unregistered investment companies with deceptive pre-initial public offerings.
FINRA settled charges with four firms for misrepresentations and supervision failures on their "fully paid securities lending" programs.