A broker-dealer agreed to settle SEC allegations concerning (i) fraudulent overcharges of various securities trading fees and mark-ups and (ii) misleading disclosures regarding trade functionality on a government securities trading platform.
The CFTC Divisions of Market Oversight, Swap Dealer and Intermediary Oversight, and Clearing and Risk warned regulated entities "to prepare for the possibility that certain contracts may continue to experience extreme market volatility, low liquidity and possibly negative pricing."
The Council of Institutional Investors expressed support for the "Accelerating Holding Foreign Companies Accountable Act" and the "Stock Exchange Improvement Act."
Congress passed the Holding Foreign Companies Accountable Act, which would require a "foreign issuer" to disclose if its registered public accounting firm is located in a foreign jurisdiction that prevents the Public Company Accounting Oversight Board from conducting audit inspections.
The SEC Equity Market Structure Advisory Committee considered recommendations made by a subcommittee that examined investor disclosures, trading halts and trading reopenings.