An investment adviser settled SEC charges for overcharging approximately 10,000 clients an aggregate of $26.8 million.

The Massachusetts Supreme Judicial Court held that the Secretary of State could reasonably adopt a new rule that holds broker-dealers to a fiduciary standard when making recommendations to customers.

House Financial Services Committee Chair Patrick McHenry and Capital Markets Subcommittee Chair Ann Wagner expressed opposition to a PCAOB proposal to require auditors, as part of their assignments, to identify material legal and regulatory compliance risks in the clients’ businesses.

The Internal Revenue Service proposed crypto broker reporting regulations.

The CFTC set a comment deadline of October 24, 2023 for proposed amendments to rules governing confirmation of transactions on swap execution facilities.