A special purpose acquisition corporation, its sponsor, CEO and proposed merger target settled SEC charges for misrepresentations and due diligence failures that led to investors purchasing stock in the merged company. In a related Complaint filed in the U.S. District Court for the District of Columbia, the SEC charged the merger target's CEO with misrepresentations of material facts.
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The CFTC Market Risk Advisory Committee adopted the "Secured Overnight Financing Rate First" recommendation developed by MRAC's Interest Rate Benchmark Reform Subcommittee.
The U.S. Departments of State, Treasury, Commerce, Homeland Security and Labor and the Office of the U.S. Trade Representative advised businesses of potential exposure to "reputational, economic, and legal risks" for involvement with entities that engage in human rights violations occurring within China's Xinjiang Uyghur Autonomous Region.
The Federal Reserve Board, the FDIC and the OCC proposed risk management guidance for the third-party relationships of banking organizations.
The SEC Office of the Advocate for Small Business Capital Formation outlined its key goals and strategies through 2025.