A bank registered as a swap dealer and an introducing broker settled CFTC charges for recordkeeping and supervision failures.
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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.
A firm settled with FINRA for failing to (i) supervise the use of personal email for business-related communications, (ii) retain certain business-related email communications and (iii) adopt written policies and procedures to safeguard customer records and information.
FinCEN proposed to include "investment adviser" in the definition of "financial institution" under the Bank Secrecy Act. The proposed rule would require advisers to implement AML/CFT programs and maintain recordkeeping requirements.
A firm settled FINRA charges for placing transactions for customers directly with product sponsors, without recording such transactions in the firm's records or supervising their suitability.