SEC Office of Compliance Inspections and Examinations Director Peter Driscoll highlighted key risks facing retail investors caused by bad actors and poor internal controls.
The SEC Division of Trading and Markets granted the Financial Information Forum and its registered broker-dealer members an exemption from the requirement to issue trade-by-trade confirmations for orphaned fractional share trades.
In a Compliance Advisory, the MSRB highlighted several factors for broker-dealers and municipal securities dealers to consider when evaluating internal policies and procedures.
The MSRB provided an additional resource to assist dealers in complying with their obligations under new disclosure rules on markups and markdowns on municipal securities transactions.
MSRB published investor education materials on mark-up and mark-down disclosures in municipal securities trade confirmations. The materials provide additional guidance for complying with new rules scheduled to take effect May 14, 2018.
An attorney consented to a final judgment to resolve SEC charges of registration violations in connection with improper opinion letters issued to allow for the sale of control securities.
