The SEC set an effective date of January 2, 2024 and accompanying compliance dates for new Exchange Act Rule Rule 10c-1. The final rule was published in the Federal Register.
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The CFTC reported that over the past fiscal year, it granted seven applications totaling approximately $16 million in cases in which individuals voluntarily provided original information that led to successful enforcement actions.
SEC Commissioner Hester M. Peirce criticized the SEC for pursuing a federal case against a crypto asset company for registration failures which ultimately resulted in the "demise of the company."
SEC Chair Gary Gensler identified areas of noncompliance in the securities markets, advocating for holding bad actors accountable by "prosecut[ing] dishonesty."
SEC Division of Enforcement Director Gurbir S. Grewal emphasized the importance of "proactive compliance" amid the "significant decline" in public trust in the financial markets and institutions.