The SEC ordered a temporary suspension of trading in the securities of Custom Protection Services, Inc. due to potential inaccuracies regarding the company's asserted development of screening solutions for COVID-19.
NFA proposed amendments to rules on communications with the public and promotional materials. The amendments would provide relief to certain CTA members regarding the disclosure of performance results to eligible contract participant clients.
SEC Commissioner Allison Lee advocated for better disclosure on climate risk. She also weighed-in on proposed advertising rules for investment advisers and criticized proposed reforms to rules for proxy advisors.
The SEC requested comment on the effectiveness of the framework governing the names of registered investment companies and business development companies. The notice was published in the Federal Register.
In a targeted examination, FINRA is seeking information on the practices of firms that charge zero commission on client trades and "the impact that not charging commissions has or will have on the Firm’s order routing."
The FINRA National Adjudicatory Council affirmed findings against a broker-dealer firm and its general securities representatives for violating short sales regulations and failing to comply with AML requirements.
A broker-dealer settled FINRA charges for the firm's failure to fulfill its supervisory and inspection requirements, including oversight of electronic communications, outside business activities, and the firm's branch offices.
A broker-dealer settled FINRA charges of failure to "establish, maintain and enforce a sufficient supervisory system ... reasonably designed to achieve compliance with applicable securities laws and regulations."