Commentary by Steven Lofchie
Based on a study of 200 broker-dealers, NASAA found that firms are "still relying heavily" on suitability policies that predate Regulation Best Interest.
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Commentary by Steven Lofchie
The CFTC set a comment deadline of November 6, 2023 on proposed amendments to rule filing requirements for various types of registered entities, including designated contract markets, derivatives clearing organizations, swap execution facilities and swap data repositories. The proposal was published in the Federal Register.
A private equity firm settled SEC charges for failing to adequately disclose certain fees paid to an affiliated real estate brokerage firm.
Several investment advisers settled SEC charges for custody violations on the assets of private funds. The SEC charged the firms for failing to comply with audit and reporting procedures that would have afforded an exemption from the applicable custodial requirements.
Several industry trade associations filed a Petition for Review in the U.S. Court of Appeals for the Fifth Circuit seeking to "hold unlawful, vacate, and set aside" the SEC's final rules on private funds advisers. The associations argued that the SEC has "not shown any need for the intrusive rules it has adopted."