A firm settled FINRA charges for effecting opening transactions in a stock option contract that exceeded the applicable options position limits, and for related supervisory system failures.
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The CFPB issued a "compliance assistance sandbox" approval to PayActiv, Inc. The relief provides a time limited safe harbor from potential liability under the Truth in Lending Act in connection with the company's "earned wage access products."
A broker-dealer and its principal settled FINRA charges for failing to sufficiently supervise the suitability of the firm's registered representatives' trading in customer accounts.
A broker-dealer settled FINRA charges for failing to comply with supervisory and recordkeeping requirements.
The CFPB Taskforce on Federal Consumer Financial Law offered recommendations on enhancing consumer protection in the financial marketplace.