SEC Chair Jay Clayton, Division of Corporation Finance Director William Hinman, Division of Investment Management Director Dalia Blass and Division of Trading and Markets Director Brett Redfearn provided updates on the SEC's various pandemic relief measures.
The U.S. Court of Appeals for the District of Columbia Circuit granted a petition for review and vacated an SEC Rule and related pilot program designed to test the effects of certain fees and rebate pricing models on the market.
A broker-dealer settled FINRA charges for failing to amend its Form 4 Registration and Transfer Application and failing to maintain a supervisory system designed to ensure timely disclosure of reportable events.
A broker-dealer settled FINRA charges for failing to establish and maintain a supervisory system concerning (i) the qualitative suitability of products deemed high-risk and (ii) manipulative trading practices.
OFAC urged persons subject to U.S. sanctions, including financial institutions and other businesses, to notify OFAC of any anticipated delays in meeting certain regulatory reporting deadlines due to COVID-19.