A broker-dealer settled FINRA charges for failing to supervise one of its former registered representatives, who allowed her then-husband to engage in securities business with the broker-dealer's customers.
The U.S. Court of Appeals for the Second Circuit denied a petition filed by several attorneys general and investment advisers challenging the legality of the SEC's adoption of Regulation Best Interest.
The U.S. House Financial Services Subcommittee on National Security, International Development and Monetary Policy considered legislative proposals aimed at addressing fraud and cybersecurity vulnerabilities.
The Managed Funds Association and the Alternative Investment Management Association recommended modifications to the SEC's proposal on the use of derivatives by registered investment companies and business development companies.
A broker-dealer settled FINRA charges for failing to establish and maintain a supervisory system concerning (i) the qualitative suitability of products deemed high-risk and (ii) manipulative trading practices.
The Congressional Research Service addressed whether individuals enrolled in Social Security and supplemental security income services will receive recovery rebates under the Coronavirus Aid, Relief and Economic Security Act.
A FINRA proposal to modify its suitability requirements and rules governing non-cash compensation to conform to the stricter standards of Regulation Best Interest was published in the Federal Register.