The Federal Reserve Bank and the Office of the Comptroller of the Currency fined a bank for failing to monitor firm and client trading activities.
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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.
Federal Reserve Board Vice Chair for Supervision Michael S. Barr reported that, going forward, the Federal Reserve plans to focus on supervision over fundamental risk management related to counterparty credit risk practices.
The SEC fined a broker-dealer and its former executive for disclosing confidential information in advance of block sales of securities.
An investment adviser settled SEC charges for disclosing to investors, potential investors and industry contacts material non-public information in violation of the adviser's policies and procedures.