The New York Attorney General filed a Complaint against a cryptocurrency company for unlawfully operating as a virtual currency broker and misleading investors regarding its registration status.
A broker-dealer settled SEC charges for operating as an unregistered municipal advisory firm by providing advice to a municipality regarding securities that were purchased with the proceeds from an issuance of bonds.
SEC Chair Gary Gensler contended that the "vast majority" of cryptocurrency tokens on the market are securities subject to SEC regulation.
SEC Director of Investment Management William Birdthistle cautioned broker-dealers that receive cash payments for research from European asset managers that they may be required to register as investment advisers when the SEC's MiFID II no-action letter expires in July 2023.
A broker-dealer settled FINRA charges for failing to conduct reasonable due diligence in connection with a private-placement offering and for failing to maintain the minimum net capital required to operate as a securities business.