The Securities and Exchange Commission announced that it settled charges against New York-based registered transfer agent Equiniti Trust Company LLC, , for failing to assure that client securities and funds were protected against theft or misuse. Those failures led to the loss of more than $6.6 million of client funds Read More
The Securities and Exchange Commission and the Commodity Futures Trading Commission announced that they collected $474 million in fines from broker-dealers and investment advisers for widespread and longstanding failures by the firms and their employees to maintain and preserve text messages and other electronic communications. The SEC announced that the Read More
In its financial filing, RTX Corp announced that it is setting aside $1.2 billion in order to satisfy expected deferred prosecution agreements with the Department of Justice and Securities Exchange commission. These anticipated agreements arise from allegations that the aerospace and defense company made numerous improper payments tied to contracts Read More
The Securities and Exchange Commission’s Division of Enforcement launched the Interagency Securities Council (ISC), which will enable federal, state, and local regulatory and law enforcement professionals to meet quarterly to discuss the latest in scams, trends, frauds, and mitigation strategies. The ISC’s objective is to strengthen the cohesion between federal, Read More
In a landmark case, the Supreme Court has struck down the Securities and Exchange Commission’s authority to use in house-tribunals when seeking civil penalties against those accused of securities fraud. The Court, in the case of SEC v. Jarksey, ruled that when the SEC seeks civil penalties from defendants for Read More
The Securities and Exchange Commission charged Silvergate Capital, its former CEO Alan Lane, and former Chief Risk Officer Kathleen Fraher with misleading investors about the strength of the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance program and the monitoring of crypto customers, including FTX. The SEC also charged Silvergate and its Read More
In a major judicial ruling, the Supreme Court overruled a long-standing doctrine that permitted courts to defer to federal agencies on the interpretations of ambiguous laws. In the case of Loper Bright Enterprises v. Raimondo, the Court invalidated the “Chevron Deference” doctrine which effectively shifts the power to interpret complex Read More
According to a 2024 Cybersecurity Benchmarking Survey, 45 percent of surveyed compliance personnel from asset management, investment adviser and private market firms have expressed concerns about how the Securities and Exchange Commission (SEC) will enforce its newly developed cybersecurity rules. The ACA Group and National Society of Compliance Professionals released Read More
The Financial Conduct Authority (FCA) announced that it is now committed to carrying out enforcement cases more quickly as the organization seeks to increase the deterrent impact of its enforcement actions. The FCA is a private financial regulatory body in the United Kingdom (UK). The Authority’s purpose is to regulate Read More
The Securities and Exchange Commission voted to finalize its rules on climate-change disclosures titled, “The Enhancement and Standardization of Climate-Related Disclosures for Investors.” In an about face that the SEC began signaling last month, the Commission cut key provisions from the proposal, including a requirement to disclose Scope 3 emissions, Read More
