A footwear company settled with the SEC for failing to make required disclosures of related person transactions in its annual reports and proxy statements.
News & Insights
The SEC permitted an associated person, who had been subject to statutory disqualification, to effect security-based swaps after he had (i) paid a penalty, (ii) completed a number of remedial requirements and (iii) maintained a clean record.
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.
SEC Chair Gary Gensler warned of broad challenges and increased risk resulting from the use of AI models in the financial sector. He highlighted the need to update regulatory guidelines, establish strict oversight mechanisms and enhance disclosure requirements for companies utilizing AI.
A broker-dealer that sells mutual funds and variable products settled charges with FINRA for failing to supervise the outside business activities of its registered representatives.