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.
FINRA proposed extending the effective date of temporary amendments to provide the FINRA staff with short-term relief from certain enforcement and other procedural requirements while operations are impacted by COVID-19.
The CFTC Division of Enforcement "set forth" guidance for staff to consider when recommending civil monetary penalties in an enforcement action. The guidance will be included in the CFTC Enforcement Manual.
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.
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.