A broker-dealer settled FINRA charges for failing to implement a supervisory system designed to protect customers in connection with the sale of "volatility-linked exchange-traded products."
A broker-dealer settled FINRA charges for failing to implement a supervisory system in connection with the sale to retail investors of leveraged and inverse-indexed exchange-traded products.
The North American Securities Administrators Association advised broker-dealers to review sales practices for non-traditional exchange-traded funds, warning that these products pose unique risks.
FINRA increased margin requirements for exchange-traded notes and options in order to address the complexity of these products, as well as confirming that exchange-traded notes and options on them are not allowed for portfolio margining.
A broker-dealer agreed to settle FINRA charges for failing to establish, maintain and implement a sufficient supervisory system to monitor the sales of nontraditional exchange-traded funds.
SIFMA advocated for "full disclosure and transparency by benchmark sponsors" in response to an MSRB request for feedback on the accessibility, methodology and utility of indices, yield curves and benchmarks in the municipal market.
A dual-registered broker-dealer and adviser, along with its employees, agreed to settle SEC charges for supervisory failures regarding recommendations to customers to purchase and hold "non-traditional ETFs."
The MSRB requested feedback from market participants and the general public on the accessibility, methodology and utility of indices, yield curves and benchmarks available in the municipal market.
Cadwalader attorneys reviewed new BCBS-IOSCO criteria for identifying "simple, transparent and comparable" short-term securitizations. The memorandum also covers a standard on the capital treatment of STC short-term securitizations issued by the BCBS.
SEC Commissioner Kara M. Stein warned regulators and industry professionals to carefully consider the costs and benefits of marketing and selling complex products to retail investors.
A U.S. broker-dealer agreed to pay restitution to settle FINRA charges of making unsuitable recommendations in connection with volatility-linked exchange-traded products. FINRA reminded firms of sales practice obligations for such products.
Morgan Stanley Smith Barney, LLC agreed to pay an $8 million penalty to settle SEC charges alleging that the firm, which was dually registered as an investment advisor and broker-dealer, had failed to implement written compliance policies and procedures.
The SEC and FINRA settled charges that a financial services firm failed to adequately disclose certain regularly occurring fees and commissions in the offering materials the firm provided to retail investors.
The SEC announced that it is seeking public comment to help inform its review of the listing and trading of new, novel, or complex exchange-traded products ("ETPs"). The SEC is examining key issues that arise when exemptions are sought by a market participant to trade a new ETP or when a securities...
