A CFTC final rule aimed at preventing certain bad actors from seeking exemptions from registration as CPOs under CFTC Rule 4.13 ("Exemption from Registration as a Commodity Pool Operator") was published in the Federal Register.
SEC Chair Jay Clayton, Division of Corporation Finance Director William Hinman, Division of Investment Management Director Dalia Blass and Division of Trading and Markets Director Brett Redfearn provided updates on the SEC's various pandemic relief measures.
In a Complaint filed in the U.S. District Court for the Southern District of Florida, the SEC alleged that a "purported internet investment adviser firm and its president failed to properly register and to provide books and records for examination.
The CFTC filed a Complaint with the U.S. District Court for the Southern District of Florida against several unregistered individuals and companies for conducting two fraudulent schemes involving binary options and digital assets.
SIFMA, IIB, ISDA, and FIA recommended changes to CFTC-proposed cross-border regulations concerning registration thresholds and certain requirements applicable to swap dealers and major swap participants.
The U.S. District Court for the Central District of California granted the SEC a default judgment against an unregistered broker-dealer and its CEO for selling unregistered initial coin offering securities.
The SEC final rule to implement exemptions provided under the Rural Business Investment Companies Advisers Relief Act of 2018 was published in the Federal Register. The effective date for the final rule is March 10, 2020.