March 05, 2021


Electric Cart before the Horse?


SEC Establishes Enforcement Task Force Focused on Climate Risks and ESG

Steven Lofchie

Commentary by Steven Lofchie

The SEC established a new Climate and Environmental, Social and Governance Task Force within the Division of Enforcement.


House Members Reintroduce Bill Blocking Financial Transaction Taxes

U.S. House Financial Services Committee members reintroduced a bill that would block states from imposing financial transaction taxes on, among other securities industry participants, stock exchanges and broker-dealers.


New York Attorney General Warns of "Extreme Risk" Associated with Virtual Currency Investment

Office of New York Attorney General Letitia James issued investor and industry alerts warning of the "extreme" risk associated with investment in virtual currencies.


Firm Settles FINRA Charges for Failing to Detect and Report Suspicious Transactions in Low-Priced Securities

A firm settled FINRA charges for its failure to "reasonably tailor" its AML program for its "low-priced securities liquidation business."


Firm Settles FINRA Charges for Best Execution Failures

Steven Lofchie

Commentary by Steven Lofchie

A firm settled FINRA charges for failing to exercise reasonable diligence to ensure that it routed customer orders through venues that provided the best execution quality.


Mortgage Lender Settles NYDFS Charges for Failure to Report Cyber Breach

A mortgage lender entered into a settlement with the New York State Department of Financial Services after a finding that the mortgage lender failed to report a 2019 cyber breach that exposed the sensitive personal data of mortgage loan applicants.


FINRA Proposes Amendments to Electronic Filing Requirements

FINRA proposed amendments to allow firms to use electronic signatures when filing Form U4 applications for securities industry registration or transfer.


NFA Warns Firms of Ongoing Phishing Campaign

NFA warned member firms of an ongoing phishing campaign that involves fraudulent emails purporting to be from NFA staff.


FDIC to Promote Diversity, Equity and Inclusion

As outlined in a new strategic plan, the FDIC will promote diversity, equity and inclusion in the agency's culture and operations.


CRS Summarizes Banking Policy Issues

The Congressional Research Service provided an overview of "selected banking-related issues that may attract congressional interest in the 117th Congress."