A firm settled FINRA charges for failing to supervise the transmittal of customer funds by representatives with power of attorney and for failing to respond to red flags involving unsuitable trading recommendations.
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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.
The NFA submitted to the CFTC proposed changes to compliance rules, bylaws and interpretive guidance related to Member Questionnaires requirements.
The CFTC withdrew its original proposal and newly proposed to allow an FCM, subject to certain conditions, to treat separate accounts of a single beneficial owner as if they were owned by different persons, for purposes of margin withdrawals from the separate accounts.
Acting Comptroller of the Currency Michael J. Hsu argued that careful consideration should be given to any regulatory enhancements to help ensure that "updated liquidity risk management practices are implemented and sustained systematically and consistently, especially across midsize and large banks."