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.
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SEC Chair Gary Gensler argued that a recent SEC proposal requiring firms to eliminate conflicts arising from the use of predictive data analytics in investor interactions, is consistent with the existing standards of Regulation Best Interest.
In its 2023 Annual Report, the SEC Office of the Investor Advocate detailed its Fiscal Year 2023 efforts on investor outreach, responding to investor inquiries, and engaging in substantive research on (i) registered index-linked annuities and (ii) mandatory arbitration clauses in investment advisory agreements.
In an annual report, the SEC Division of Examinations identified current risks for investors and registrants and highlighted key areas for examination in 2024.
The CFTC Division of Market Oversight extended no-action relief from the ownership and control reporting requirements for reporting entities.