A broker-dealer settled FINRA charges for failing to (i) implement reasonably designed AML policies, (ii) identify and respond to potentially manipulative trading and (iii) establish sufficient market access controls and procedures.
In a blog post, SIFMA asserted that the SEC did not anticipate the negative impact that applying the SEA rule on quotations without specific information to fixed income securities would have on the market for securities that are sold in reliance on certain exemptions.
SIFMA criticized the SEC for its decision to extend the applicability of the "Penny Stock Quote" rule, which requires broker-dealers to base public quotations for OTC securities on specified information and to maintain records of that information, to the fixed income markets.
The SEC opened a new comment period to consider objections to proposed revisions to the funding model for the consolidated audit trail.
An investment adviser settled SEC charges for failing to fully disclose compensation paid to its affiliated broker-dealer for certain mutual fund transactions and related conflicts of interest.