The SEC was sanctioned for presenting false and misleading evidence in obtaining a temporary restraining order and asset freeze against a crypto firm. Judge Robert J. Shelby delivered the ruling, calling the SEC's actions toward the crypto firm a "gross abuse of power."
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A broker-dealer settled charges with FINRA it sent confirmations to institutions' customers that "inaccurately reflected the capacity in which the firm acted."
In yesterday's newsletter, we identified two CFTC Advisories as newly updated guidance on cooperation that can affect civil monetary penalties in enforcement actions. The updates are current, but they are not new.
A broker dealer settled FINRA charges for failing to disclose to retail customers markup and markdown information on transactions in debt securities, including municipal securities and corporate and agency debt.
The CFTC Division of Enforcement issued guidance as to the standard by which it assesses a firm's level of cooperation with enforcement investigations.