A broker-dealer and a former representative settled FINRA charges for suitability and supervisory failings concerning recommendations involving Unit Investment Trusts and preferred stock of a real estate investment trust.
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Senate Banking Committee Chair Sherrod Brown (D-OH) requested information from an on-line "smart savings platform powered by real estate," on the company's potential risks to customers.
SEC staff provided new guidance for broker-dealers and investment advisers on meeting their Regulation Best Interest and duty of care obligations.
In a "Consumer Compliance Supervisory Highlights" Report, the FDIC summarized the results of consumer compliance examinations of supervised institutions in 2022 and offered recommendations to strengthen compliance management systems.
NFA set an effective date of May 31, 2023 for recently adopted rules which establish requirements applicable to firms engaging in "digital asset commodity" activities.