Commentary by Steven Lofchie
In a testimony before the House Appropriations Subcommittee on Financial Services and General Government, SEC Chair Gary Gensler called for additional resources to "help maintain [the 'gold standard of'] American capital markets as the best in the world."
The DOJ and the SEC charged a subsidiary of an international investment adviser with defrauding investors by concealing billions of dollars of losses and misrepresenting downside risk in connection with a series of hedge funds that collapsed in March 2020.
In an address before the North American Securities Administrators Association, SEC Chair Gary Gensler reviewed the evolution of broker-dealer and investment adviser best interest practices over time, and how those practices should account for issues raised by the new "digital age" of finance.
OFAC warned that "individuals and entities engaged in or supporting [North Korea] IT worker-related activity, including processing related financial transactions, should be aware of the potential legal consequences of engaging in prohibited or sanctionable conduct."
Comments on a FINRA proposal to require TRACE reporting of transactions in U.S. dollar-denominated foreign sovereign debt securities must be submitted by June 7, 2022 .