A firm settled FINRA charges for (i) allowing paid influencers to make posts on social media that involved unfair, exaggerated or false claims and (ii) failing to review such posts prior to their posting.
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SEC Chair Gary Gensler warned investment advisers, broker-dealers and public companies that misstating their use of AI in investment strategies or company operations may violate securities laws.
CFPB Director Rohit Chopra warned that anti-competitive behavior by industry participants will not be allowed to impede the CFPB's required shift to open banking.
The CFPB warned that operators of digital comparison-shopping tools or lead generators may be in violation of the Consumer Financial Protection Act if they give preference to products or services based on financial or other benefits provided to the tool operator.
The SEC charged a motor company for misleading investors about the company's plans to develop the first full-size electric pickup truck and separately charged the company's accounting firm for violating auditor independence rules.