The Board of Governors of the Federal Reserve adopted new operational risk management requirements for systemically important designated clearing organizations.
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The U.S. House of Representatives passed the Expanding Access to Capital Act of 2023 in a party line vote. The bill is intended to build on the JOBS Act of 2012 by reducing the regulatory burdens on certain capital raising transactions.
An investment adviser settled charges with the SEC for failing to timely disclose the adviser's "control" purpose, with respect to an issuer whose shares it had acquired for the account of a hedge fund that it managed.
In its "Review of the 'Accredited Investor' Definition," a report required under Dodd-Frank, the SEC considered the evolution of the definition of the term "accredited investor," and cited statistics detailing how the impact of the definition has changed over time.
A broker-dealer settled charges with FINRA for failing to file required information in connection with private placement offerings sold to retail investors.