SEC Office of Compliance Inspections and Examinations Director Peter Driscoll urged firms to establish and maintain strong compliance programs that address AML, microcap securities, paying agents and cybersecurity.
FINRA reminded broker dealers of rules that require firms to provide information upon request to any person that voices an interest in a transaction involving the securities of foreign private issuers.
A broker-dealer agreed to settle SEC charges for failing to supervise a registered representative and for ignoring various red flags indicating that the representative could be involved in market manipulation.
The former president of a penny stock company consented to a permanent ban from serving as a public company officer. The SEC alleged that he made misrepresentations in an attempt to pump up the value of his company's stock.