A broker-dealer agreed to settle FINRA charges for net capital violations and failing to maintain blanket fidelity bond coverage. According to the Letter of Acceptance, Waiver and Consent, FINRA alleged that the net capital violations arose in part because the firm did not include private placement commissions payable as deductions from its net capital until the firm itself had been paid, although its registered representatives had not agreed that they would waive payment of commissions owed them until the firm was paid. In addition, FINRA claimed that the firm did not maintain its fidelity

A broker-dealer agreed to settle FINRA charges for improperly charging an issuer $6,000 for filing a Form 211, in violation of FINRA Rule 5250. The filing of Form 211 is required in order for price quotes on the firm to be submitted on the OTCQX market. However, the price of the filings is required to be borne by the broker-dealer. According to the Letter of Acceptance, Waiver and Consent, Euro Pacific Capital, Inc. also violated FINRA Rule 2010 (Standards of Commercial Honor and Principles of Trade). To settle the charges, Euro Pacific Capital, Inc. consented to a censure and to pay a fine of

In a guidance letter to certain parties, the SEC Division of Corporation Finance clarified that a broker-dealer may satisfy its prospectus delivery obligation, under Securities Act Section 5(b)(2), by delivering a prospectus to an investment adviser rather than to the adviser's client, provided that the broker-dealer has actual knowledge that the client has granted permission to the adviser to accept the delivery of the prospectus on behalf of the client.

Federal Reserve Board Governor Michelle Bowman described the opportunities and challenges for community banks to innovate through collaboration with FinTech firms. In remarks at a "Fed Family" Luncheon, Ms. Bowman stated that "community banks offer potential fintech partners a consumer-first approach to business and a number of advantages: deposit insurance and liquidity; a stable customer base; credibility in a local community; and settlement and compliance services." She observed that a significant number of community banks are currently working in collaboration with FinTech firms to deliver

OFAC designated four companies that operate in the Venezuelan oil sector and identified nine vessels as blocked property owned by the companies. OFAC's action further targets the Venezuelan oil sector, which OFAC stated continues to "provide a lifeline to the illegitimate regime of former President Maduro." U.S. Treasury Secretary Steven Mnuchin added: "We continue to target companies that transport Venezuelan oil to Cuba, as they are profiting while the Maduro regime pillages natural resources. Venezuela's oil belongs to the Venezuelan people, and should not be used as a bargaining tool to