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.
The SEC Office of Investor Education and Advocacy encouraged investors to understand advertised performance metrics prior to making an investment decision.
Four investment advisers settled charges for violating the SEC's "pay-to-play" rule by accepting compensation from "government entities" for advisory services during the rule's "time out" period after one or more covered associates of each adviser made campaign contributions.
In testimony before the Senate Banking Committee, SEC Chair Gary Gensler outlined the agency's responses to current forces changing the face of finance from new "[f]inancial technologies and business models, from predictive data analytics to crypto."
The SEC proposed amendments that would require covered clearing agencies that provide central counterparty services for Treasury securities to require its members to centrally clear a significant number of their repo transactions in Treasury securities.