An investment adviser was fined for failing to adequately investigate concerns raised about the miscalculation of "risk share" returns used by a Pennsylvania public pension plan, and for material misstatements and omissions about the reasons for the miscalculation.
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U.S. Representatives French Hill (R-AR), David Scott (D-GA), and Ann Wagner (R-MO) urged the DOL to "cease its efforts" to adopt the "Retirement Security Rule" proposal "to prevent needlessly inflicting harm on millions of retirement savers across the country."
FINRA collated SEC staff bulletins and FINRA resources to improve member compliance with Regulation Best Interest.
The Inter-Agency Working Group for Treasury Market Surveillance reported progress on efforts to ensure that the Treasury market "remains the deepest and most liquid market in the world and a central component of the financial system."
FDIC Vice Chair Travis Hill expressed concern that "an overreaction is underway" from regulators in response to the bank failures in March 2023.