FINRA stated that marketing materials should reflect the fact that many private placements are either illiquid or speculative in nature, and should "balance claims of these investments' benefits by disclosing these risks."
A Federal Reserve working group, made up of government and payments industry experts, developed a uniform fraud classification system to address fraud involving Automated Clearing House, wire, and check payments.
The SEC provided conditional relief from certain Exchange Act credit-arranging prohibitions to broker-dealers designated as agents for the Federal Reserve Board's Term Asset-Backed Securities Loan Facility.
The CFTC Divisions of Market Oversight, Swap Dealer and Intermediary Oversight, and Clearing and Risk warned regulated entities "to prepare for the possibility that certain contracts may continue to experience extreme market volatility, low liquidity and possibly negative pricing."
In a new staff report on the nexus between central counterparties and clearing member banks, the Bank for International Settlements emphasized the need for central banks to evaluate the two entity types collectively.
The SEC ordered a temporary suspension of trading in the securities of Custom Protection Services, Inc. due to potential inaccuracies regarding the company's asserted development of screening solutions for COVID-19.