Proposed rule applies only when a broker makes a recommendation
Comparing the success of investor protection programs in Canada and the U.S.
Title reform is catching on inside the SEC as a simple solution that would be straightforward to implement as the regulator moves toward a proposal for a new fiduciary standard, Investment News reported. Title reform would draw a line between brokers and investment advisors (and advisers), limiting who can use the latter title to those […]
The SEC says in a release that it has obtained an emergency asset freeze to halt an initial coin offering fraud that raised up to US$15 million from thousands of investors since August. The offering falsely promised a 1,354% profit, says the SEC. The commission has filed charges against “a recidivist Quebec securities law violator,” […]
The Securities and Exchange Commission today charged Mohammed Ali Rashid, a former senior partner at Apollo Management L.P., with defrauding his fund clients by secretly billing them for approximately $290,000 in personal expenditures, including his family vacations, visits to a hair salon, and purchases of designer clothing and high-end electronics. The SEC’s complaint alleges Rashid […]
Global regulators get high-tech with enforcement
This week, the U.S. SEC announced two whistleblower awards
The SEC is cautioning market players about online organizations that offer digital asset purchases through “initial coin offerings” or “token sales.” The SEC warning comes in an investigation report that found tokens offered and sold by an online organization known as The DAO were securities—“and therefore subject to the federal securities laws,” an SEC release […]
Paid publicity must be disclosed to the investing public, says the SEC.
The SEC’s enforcement section is readying for big spending cuts under President Donald Trump, Bloomberg reports. The department responsible for investigating and enforcing federal securities law has already been told to cease non-essential travel, freeze hiring and stop using external contract assistance for cases, Bloomberg reports, citing unnamed sources. Read: Will Trump’s deregulation really matter? […]