The Securities and Exchange Commission today proposed Regulation E-Delivery, a new rule that would expand the ability of issuers, broker-dealers, investment advisers, and others to use electronic delivery to satisfy information delivery requirements…
The SEC has proposed **Regulation E‑Delivery**, a new, technology‑neutral rule that would allow electronic delivery to become the **default method** for satisfying many information delivery requirements under the federal securities laws, while preserving a right to paper on request. This is a material shift away from the long‑standing, guidance‑based and “affirmative consent” model, and will require firms to redesign their disclosure, investor communication and recordkeeping frameworks to comply with new notice, opt‑out and failure‑remediation obligations.
What Changed
- - Regulation E‑Delivery would formally replace the SEC’s decades‑old, purely guidance‑based approach to electronic delivery and establish a rule‑based framework that expressly permits e‑delivery to...
- Electronic delivery would become the default method of delivery, meaning firms could deliver required regulatory information electronically without first obtaining the investor’s affirmative consent,...
- The rule would preserve investor choice by requiring that investors and other recipients be able to request paper delivery at any time and continue receiving paper format upon request.
- The proposal would set out requirements and conditions for when e‑delivery is deemed compliant, including use of electronic addresses or other electronic methods reasonably designed to ensure receipt...
- The range of deliverable documents under Regulation E‑Delivery would be broad, covering prospectuses for funds and other issuers, fund annual and semi‑annual shareholder reports, proxy statements,...
Suggested Considerations
- Conduct a comprehensive mapping of all documents currently delivered under federal securities law requirements (prospectuses, shareholder reports, proxy materials, trade confirmations, Form CRS, Form ADV brochures) and determine how each will be delivered under Regulation E‑Delivery.
- Review and update disclosure, investor communication and delivery policies to incorporate e‑delivery as the default method while clearly documenting investor rights to request and receive paper delivery at any time.
- Design and implement procedures for maintaining accurate electronic contact information for investors and clients, including periodic verification processes and remediation steps for undeliverable emails or failed electronic transmissions.
- Develop and operationalize the transition process for paper‑based recipients, including generation and mailing of the two required paper notices that explain the move to e‑delivery and the opt‑out option.
- Update client and investor onboarding materials, account agreements and preference‑capture workflows to reflect the new default e‑delivery model and how investors can elect paper delivery or change their preferences.
Key Dates
– Start of the 60‑day public comment period on the Regulation E‑Delivery proposal
– End of the 60‑day comment period; market participants must have submitted feedback on scope, conditions, investor protections and operational impacts by this date
– Effective date of final Regulation E‑Delivery, after which firms may begin relying on the rule for default e‑delivery, subject to any specified compliance or phase‑in dates in the adopting release
– Commencement of required transition processes, including the mailing of two paper notices and implementation of opt‑out mechanisms, for investors currently receiving paper communications
Compliance Impact
Non‑compliance could result in failures to meet statutory disclosure and delivery obligations, exposing firms to SEC enforcement, supervisory findings, investor complaints, and potential civil liability where investors allege inadequate or inaccessible information. Mismanaged transitions or poor controls around e‑delivery failures may also create conduct risk, reputational damage and remediation costs, particularly for retail and senior investors.
AI-generated analysis. May contain errors or omissions — verify with the
original SEC source
before acting. Full disclaimer.
Asset ManagerBroker DealerWealth Manager No description available.
Asset ManagerHedge Fund
The Securities and Exchange Commission today announced the creation of the Retail Fraud Working Group designed to strengthen the Division of Enforcement’s efforts to identify and combat fraud targeting everyday investors.The Retail Fraud Working Group…
What Changed
- - The SEC is reinstating the Retail Fraud Working Group within the Division of Enforcement to concentrate resources on identifying and pursuing misconduct that disproportionately harms retail...
- The Working Group will support stronger coordination with state and federal enforcement partners, including improved information-sharing and joint efforts.
- The SEC’s enforcement priorities now explicitly include offering fraud, accounting and disclosure fraud, insider trading, market manipulation, fraud by foreign actors, and fiduciary breaches...
- The SEC is signaling that it will distinguish between honest mistakes and actual fraud, but will still assess whether errors caused investor harm and calibrate remedies accordingly.
- The initiative reinforces the SEC’s broader retail-investor focus, building on the earlier Retail Strategy Task Force and related retail-protection efforts.
Suggested Considerations
- Review retail-facing sales, disclosure, and supervision controls for gaps that could create exposure under SEC fraud theories.
- Reassess product approval, marketing review, and suitability procedures for offerings sold to individual investors.
- Test whether financial reporting, performance, and valuation disclosures could be challenged as misleading or incomplete.
- Strengthen surveillance for insider trading, market manipulation, and suspicious transaction patterns involving retail accounts.
- Reevaluate client-asset safeguarding, custody, and trade-allocation controls to prevent misuse or misappropriation.
Key Dates
- The Retail Fraud Working Group begins operating as an internal enforcement priority; the announcement does not specify a formal launch date or implementation timetable
- SEC Enforcement Director David Woodcock publicly stated that the Retail Fraud Working Group would be reinstituted and that it would focus on protecting retail investors and strengthening coordination with state and federal partners
Compliance Impact
The compliance impact is high because the SEC is signaling more targeted examinations and enforcement cases involving conduct that affects retail investors. Firms that fail to identify retail harm, disclose conflicts, or protect client assets face increased risk of investigations, injunctions, penalties, undertakings, and reputational damage.
AI-generated analysis. May contain errors or omissions — verify with the
original SEC source
before acting. Full disclaimer.
Asset ManagerBroker DealerWealth Manager No description available.
Broker DealerFintech
No description available.
The CFTC has filed a federal lawsuit against the Commonwealth of Kentucky (23 June 2026) to stop the state from using gambling‑style enforcement actions and a special transaction fee to effectively shut down CFTC‑registered designated contract markets (DCMs), including prediction markets. The case is a direct assertion of the CFTC’s *exclusive federal jurisdiction* over futures, options, and swaps, and it materially raises the compliance stakes for any CFTC‑registered market, intermediary, or participant operating in or targeted by state gambling or consumer‑protection regimes.
What Changed
- - The CFTC has initiated federal litigation against Kentucky seeking declaratory and injunctive relief to prevent the state from enforcing civil actions and special transaction fees against...
- Kentucky has filed civil enforcement actions in state court against CFTC‑regulated DCMs, characterising their event contracts as illegal gambling and seeking substantial monetary penalties.
- Kentucky has adopted a new “special transaction fee” (functionally an excise or levy) specifically targeting transactions on CFTC‑regulated DCMs, intended to incentivise these platforms to cease...
- The CFTC is explicitly framing Kentucky’s actions as an impermissible interference with Congress’s federal preemption framework and the CFTC’s exclusive jurisdiction over futures, options, and swaps,...
- The Commission is building a broader litigation strategy, noting parallel proceedings against Minnesota, Illinois, and Rhode Island and amicus participation before the Sixth and Ninth Circuits and...
Suggested Considerations
- Review and update state‑law risk assessments for all CFTC‑regulated DCM activities, with a specific focus on gambling, consumer‑protection, tax, and licensing regimes in Kentucky and other active states.
- Conduct a targeted legal analysis of whether existing or planned event‑based or prediction‑market contracts might be recharacterised as gambling under relevant state laws, and document the basis for treating them as CFTC‑regulated derivatives.
- Map all customer‑facing operations, servers, marketing, and on‑the‑ground presence in Kentucky and other contentious states, and evaluate whether operational changes (e.g. geofencing, revised onboarding flows) are warranted pending judicial outcomes.
- Engage external counsel to monitor *CFTC v. Kentucky* and related state and federal cases, and establish an internal escalation protocol so that material developments (e.g. injunctions, adverse rulings) trigger prompt compliance and product‑governance review.
- Update board and senior management reporting to include a standing item on state–federal jurisdictional conflicts affecting prediction markets, highlighting litigation exposure, revenue at risk, and contingency plans.
Key Dates
- CFTC files its lawsuit against Kentucky to block enforcement actions and special transaction fees against CFTC‑registered DCMs
- Key procedural milestones in *CFTC v. Kentucky* (motion practice, preliminary injunction hearings, and potential appellate review), which will shape how quickly and broadly federal preemption over prediction markets is clarified
- Progression of related CFTC suits and amicus‑briefed appeals in the Sixth Circuit, Ninth Circuit, and Massachusetts Supreme Judicial Court, which will collectively define the jurisdictional perimeter for event contracts
Compliance Impact
Non‑compliance, or mismanagement of overlapping state and federal regimes, can result in significant state‑level monetary penalties, special fees, potential orders to cease operations, and parallel federal enforcement or supervisory actions. The litigation also increases reputational and regulatory‑relationship risk for firms seen as disregarding the emerging federal–state boundary around prediction markets.
AI-generated analysis. May contain errors or omissions — verify with the
original CFTC source
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Broker DealerHedge FundCrypto Exchange No description available.
Crypto ExchangeFintech
The Securities and Exchange Commission has appointed John Moses as Director of the agency’s Office of Investor Education and Assistance, which provides services and resources to help investors build their financial futures and protect against investment…
All Firms
No description available.
The CFTC is proposing to revise its whistleblower award framework to make smaller awards more predictable by presuming a **30% award rate for claims of $5 million or less**, subject to Commission judgment. This is a significant compliance development because it aligns more closely with SEC whistleblower methodology and may encourage more whistleblower submissions tied to Commodity Exchange Act violations, increasing the need for firms to detect issues early and respond quickly.
What Changed
- - The CFTC proposes a 30% presumption for whistleblower awards of $5 million or less.
- The presumption remains subject to Commission discretion and application of relevant regulatory factors.
- The proposal is modeled on SEC Rule 21F-6(c) to further harmonize CFTC and SEC whistleblower frameworks.
- The CFTC says the change is intended to improve the efficiency, transparency, and predictability of award processing.
- The proposal would affect how the CFTC’s Whistleblower Office evaluates award claims under Part 165.
Suggested Considerations
- Review whistleblower intake, escalation, and investigation procedures to ensure the firm can identify potential CEA violations before they become external whistleblower submissions.
- Update training for front office, operations, compliance, and management personnel on CFTC whistleblower protections and the increased incentive structure.
- Assess whether confidentiality, reporting, and non-retaliation controls are sufficiently documented to withstand scrutiny if a whistleblower complaint arises.
- Reconfirm that internal policies do not discourage employees from communicating with the CFTC or otherwise create retaliation risk.
- Monitor the Federal Register publication date and decide whether the firm, trade association, or counsel should submit a comment during the open comment period.
Key Dates
- The CFTC published the Notice of Proposed Rulemaking seeking public comment on amendments to its whistleblower rules
- The public comment period closes 30 days after the NPRM is published in the Federal Register
- The CFTC may finalize, modify, or withdraw the proposal after reviewing public comments
Compliance Impact
The practical impact is moderate to high because the proposal raises the attractiveness of reporting to the CFTC and may increase the likelihood of externally originated enforcement matters. Firms that fail to maintain strong internal reporting channels, prompt investigations, and anti-retaliation safeguards face higher risk of enforcement, litigation, and reputational harm if a whistleblower report is filed.
AI-generated analysis. May contain errors or omissions — verify with the
original CFTC source
before acting. Full disclaimer.
Broker DealerAsset ManagerHedge Fund No description available.
The CFTC has issued a Notice of Proposed Rulemaking (NPRM) to amend Regulation 40.11 and add Appendix F to Part 40 to create a **structured, time‑bound framework** for reviewing event contracts that may involve the activities enumerated in CEA Section 5c(c)(5)(C) (terrorism, assassination, war, gaming, or unlawful conduct). This proposal matters because it will formalize how the CFTC determines whether such event contracts are **contrary to the public interest** and therefore cannot be listed or cleared by CFTC‑registered entities, with particular consequences for prediction markets and sports, political, and other “gaming” event contracts.
What Changed
- - The NPRM would amend CFTC Regulation 40.11 to embed a formal analytical framework for assessing whether an event contract involves an activity enumerated in CEA Section 5c(c)(5)(C) and, if so,...
- The NPRM would add Appendix F to Part 40 to set out the factors, tests, and procedural steps the Commission will apply when reviewing specific event contracts referencing enumerated activities.
- The proposal would define key statutory terms, including at minimum “involve” and “gaming,” to clarify when an event contract is considered to touch an enumerated activity under CEA Section...
- The NPRM would establish a 90‑day review process for the Commission to evaluate event contracts that may implicate enumerated activities, including procedural protections such as notice, opportunity...
- The proposed framework would codify public‑interest factors the Commission will apply when deciding whether a particular contract involving an enumerated activity is contrary to the public interest...
Suggested Considerations
- Map and inventory all existing and planned event contracts listed or cleared through CFTC‑registered entities to identify those that may “involve” terrorism, assassination, war, gaming, or conduct unlawful under federal or state law.
- Conduct a legal analysis of how the proposed definitions of “involve” and “gaming” would apply to your current product set, particularly sports, political, entertainment, and other contest‑based contracts, and document the rationale.
- Review and update internal product‑approval and new‑contract listing procedures to incorporate the proposed 90‑day CFTC review process, including timelines, documentation standards, and decision gates tied to Section 5c(c)(5)(C).
- Develop or update written policies and controls to ensure that contracts potentially involving enumerated activities are escalated for legal, compliance, and regulatory‑affairs review before submission to the CFTC.
- For DCMs and SEFs, enhance product‑submission templates to clearly address the proposed Appendix F public‑interest factors, including description of the underlying event, potential for unlawful activity, market integrity risks, and consumer‑protection considerations.
Key Dates
– Earlier CFTC NPRM on event contracts was published in the Federal Register as “Event Contracts; Proposed Rule, 89 FR 48968,” later withdrawn on 06 February 2026; the new NPRM effectively replaces that initiative with a more targeted framework
– CFTC formally withdrew the 2024 Event Contracts proposed regulatory action (91 FR 5386), clearing the path for the current, more targeted NPRM on enumerated activities
– CFTC issued an Advance Notice of Proposed Rulemaking (ANPRM) on prediction markets and a staff advisory to DCMs, launching a broader process to develop a tailored regulatory framework for prediction markets
– Comment deadline for the March 2026 prediction‑markets ANPRM, which this NPRM is described as addressing in part and which may lead to additional rulemaking
– CFTC announces the new NPRM on amendments to Regulation 40.11 and addition of Appendix F to Part 40 regarding event contracts involving enumerated activities
Compliance Impact
Non‑compliance with the final rules emerging from this NPRM could result in the CFTC determining that listed or cleared contracts are contrary to the public interest, leading to forced delisting, enforcement exposure, and reputational damage for CFTC‑registered entities. The impact is particularly significant for firms whose business models rely on sports, political, and other “gaming” event contracts, as entire product lines may become impermissible if they are found to involve enumerated activities in a way that is contrary to the public interest.
AI-generated analysis. May contain errors or omissions — verify with the
original CFTC source
before acting. Full disclaimer.
Broker DealerFintechCrypto Exchange No description available.
The CFTC has rescinded its long‑standing **“no-deny” settlement policy** in Appendix A to Part 10, which had barred settlements where defendants wished to continue denying the Commission’s allegations. This change applies **both prospectively and retrospectively**, as the CFTC will no longer enforce existing no‑deny provisions in prior settlements, materially altering settlement dynamics, post‑settlement communications, and reputational risk management for CFTC‑regulated entities.
What Changed
- - The CFTC has rescinded the policy in Appendix A to Part 10 that prevented the Commission from accepting settlement offers where a respondent or defendant continued to deny the allegations in a...
- The CFTC will now accept settlements even where the settling party publicly denies or continues to deny the CFTC’s allegations, provided other settlement terms are satisfied.
- The CFTC has stated that it will not enforce existing no-deny (neither‑admit‑nor‑deny) provisions in settlements that have already been entered.
- If a settling party breaches an existing no-deny provision, the CFTC will not allege breach of contract, seek to reopen the matter, ask a district court to vacate the settlement, or reopen an...
- The rescission does not alter the CFTC’s discretion to:
- settle with defendants who decline to admit facts or liability; or
- negotiate and require admissions of facts or liability in...
Suggested Considerations
- Review all existing CFTC settlement orders, consent orders, and related agreements to identify any no‑deny or neither‑admit‑nor‑deny clauses and update internal records to reflect that the CFTC has stated it will not enforce those provisions.
- Update internal enforcement and litigation playbooks to incorporate the new settlement flexibility, including explicit guidance that public denials post‑settlement may be possible but should be subject to legal and reputational risk review.
- Revise board- and senior‑management reporting on CFTC enforcement risks and settlement strategy to reflect the rescission of the no‑deny policy and the availability of settlements without waiving the ability to contest allegations in public communications.
- Implement or update communications and investor‑relations protocols governing post‑settlement statements, ensuring any public denials or clarifications are coordinated with legal, compliance, and, where relevant, parallel regulators or criminal authorities.
- For ongoing CFTC investigations or settlement negotiations, instruct external and internal counsel to reassess settlement strategy, including whether to seek terms that preserve the firm’s ability to deny or contest aspects of the CFTC’s allegations after settlement.
Key Dates
– CFTC adopts Appendix A to Part 10, establishing the policy of not accepting settlements where the respondent or defendant continues to deny the allegations
– Federal Register publication date referenced in the CFTC’s final rule rescinding Appendix A to Part 10 (Rescission of Policy Regarding Denials in Settlements of Enforcement Actions, 91 FR 29892)
– CFTC issues Press Release 9247‑26 publicly announcing that it has rescinded the policy and will not enforce existing no‑deny provisions
– The rescission of Appendix A to Part 10 becomes effective as a final rule upon publication in the Federal Register; from this date, the CFTC will not apply the no‑deny policy in new settlements and will not enforce existing no‑deny clauses
Compliance Impact
Non‑compliance arises less from violating the rescinded policy itself and more from mismanaging post‑settlement communications, which may create new litigation, regulatory, or disclosure risks if statements are misleading, inconsistent with other settlements, or inaccurate. Failure to update settlement and communications practices could undermine risk management, investor confidence, and relationships with multiple regulators, even if formal CFTC sanctions for “breaching” past no‑deny clauses are no longer expected.
AI-generated analysis. May contain errors or omissions — verify with the
original CFTC source
before acting. Full disclaimer.
Broker DealerAsset ManagerHedge Fund No description available.
Broker DealerAll Firms
The Securities and Exchange Commission today announced four new members to fill vacancies on its Investor Advisory Committee. Three of the four new members will serve four-year terms, while the fourth new member will serve as the…
All Firms
No description available.
The CFTC has intervened in federal court in Rhode Island to block the state from enforcing its gambling laws against a CFTC‑registered designated contract market (DCM) offering prediction/event contracts. This action is a direct assertion of the CFTC’s exclusive jurisdiction under the Commodity Exchange Act (CEA) over event contracts and CFTC‑registered prediction markets, with significant implications for how exchanges, intermediaries, and market participants manage state law risk and venue selection.
What Changed
- - The CFTC has formally sought to intervene in a U.S. District Court case in Rhode Island to halt the state’s attempt to apply state gambling laws and seek civil penalties against a CFTC‑registered...
- The Commission has publicly reaffirmed that event contracts traded on CFTC‑registered exchanges are “commodity derivatives” squarely within the CFTC’s regulatory remit under the Commodity Exchange...
- The CFTC is explicitly characterizing its authority over CFTC‑registered prediction markets as “exclusive jurisdiction,” signaling that state gambling regulators and attorneys general should not...
- The Rhode Island dispute is identified as part of a broader pattern of state challenges to CFTC jurisdiction over prediction markets, following similar or related litigation in Arizona, Connecticut,...
- The enforcement posture indicates that CFTC‑registered contract markets facing state actions can expect active CFTC litigation support when states attempt to apply gambling or gaming statutes to...
Suggested Considerations
- Review current and planned event or prediction‑market contracts to confirm that they are structured, documented, and marketed as commodity derivatives under the Commodity Exchange Act rather than as gaming or wagering products.
- Update internal legal and compliance memoranda on federal preemption and CFTC “exclusive jurisdiction” to reflect the CFTC’s latest public position and the ongoing Rhode Island and related state cases.
- Map state‑law exposure for event contracts by conducting a jurisdictional sweep of gambling, gaming, bucket‑shop, and “games of chance” statutes for key states where customers or operations are located, with particular focus on Rhode Island, Arizona, Connecticut, Illinois, New York, and Minnesota.
- Enhance product‑approval and new‑business committees’ procedures so that, before launching event contracts, they explicitly document CEA coverage, CFTC oversight, and a preemption analysis versus relevant state gambling laws.
- For CFTC‑registered contract markets, establish and maintain a litigation and regulatory‑strategy playbook for responding to state attorney‑general investigations or enforcement demands, including criteria for when to seek CFTC support or intervention.
Key Dates
– A CFTC‑registered designated contract market files a federal complaint after being threatened with impending state enforcement under Rhode Island gambling laws
– Rhode Island files a parallel state‑court complaint seeking significant civil penalties and demanding that prediction markets “stand down” and “disgorge their profits.”
– The CFTC files a motion to intervene in the U.S. District Court for the District of Rhode Island to block state enforcement and reiterate its claim of exclusive jurisdiction over CFTC‑registered prediction markets
Compliance Impact
Non‑compliance with CEA and CFTC requirements, or misalignment with the CFTC’s asserted exclusive jurisdiction, could expose firms to overlapping enforcement from both federal and state authorities, including significant civil penalties, injunctive relief, forced cessation of business, and profit disgorgement. Firms failing to anticipate and manage the federal–state conflict risk may also face abrupt business interruption, litigation costs, and reputational damage in the rapidly evolving prediction‑market space.
AI-generated analysis. May contain errors or omissions — verify with the
original CFTC source
before acting. Full disclaimer.
Broker DealerFintechCrypto Exchange The Securities and Exchange Commission’s Investor Advisory Committee will hold a public meeting at the SEC Headquarters in Washington D.C. on June 4 at 10 a.m. ET to discuss private markets, passive index funds, and recommendations regarding fund…
Asset ManagerBroker Dealer
The Securities and Exchange Commission today rescinded a policy, codified in Rule 202.5(e) of its informal rules of procedures, stating that when it chooses to settle an enforcement action in which a sanction is imposed, it will not settle unless the…
The SEC has rescinded its long‑standing “no‑deny” settlement policy, previously codified in Rule 202.5(e) of the Commission’s Rules of Practice, which had prohibited settling respondents from publicly denying the Commission’s allegations in cases resolved on a “neither admit nor deny” basis. This materially alters how firms can speak about resolved SEC enforcement matters and will directly affect settlement negotiations, collateral consequences analysis, and post‑settlement communications and disclosure strategies.
What Changed
- - The SEC has rescinded the policy in Rule 202.5(e) of its informal Rules of Practice that conditioned settlements involving sanctions on the respondent’s agreement not to publicly deny the...
- Settling parties in SEC enforcement actions may now have greater scope to make public statements that deny or contest aspects of the SEC’s allegations, subject to the specific language of each...
- The traditional “neither admit nor deny” construct will no longer automatically include a built‑in prohibition on denials, which means the SEC staff will need to negotiate any desired limitations on...
- Communications and disclosure provisions in SEC settlement papers (including “undertakings” and clauses governing press releases and investor communications) are likely to become more tailored and...
- The rescission increases the importance of alignment between legal, compliance, and communications teams when crafting public statements following an SEC settlement, because statements that deny...
Suggested Considerations
- Review existing internal playbooks for handling SEC investigations and settlements and update them to reflect the rescission of Rule 202.5(e), including how settlement language on admissions, denials, and public statements is negotiated.
- For matters currently under SEC investigation or in active settlement negotiations, direct outside and in‑house counsel to reassess settlement strategy, including whether to seek greater flexibility for post‑settlement denials or clarifications in the consent language and undertakings.
- Conduct an inventory of significant historical SEC settlements that included “no‑deny” provisions and identify where ongoing communications plans, disclosure narratives, or litigation strategies may be constrained by legacy language.
- For high‑impact historical orders with restrictive “no‑deny” clauses, obtain legal advice on whether and how to approach the SEC about potential modification or clarification of those provisions in light of the Commission’s changed policy.
- Train senior management, board members, and spokespersons on the revised SEC posture, emphasising that while denials may now be more permissible, inaccurate or overly aggressive denials could adversely affect ongoing private litigation, insurance recoveries, or relationships with other regulators.
Key Dates
- The SEC issues the press release announcing rescission of its “no‑deny” policy codified in Rule 202.5(e), signalling immediate policy change for new enforcement settlements
- Any subsequent SEC guidance, FAQs, or amendments to the Rules of Practice or Enforcement Manual that clarify how post‑settlement denials will be treated in future cases may be issued at a later date
Compliance Impact
Non‑compliance will not typically arise from the policy rescission itself, but from making public statements that conflict with specific settlement terms, are misleading to investors, or undermine other legal obligations. Missteps in this area can trigger renewed SEC scrutiny, private securities litigation exposure, reputational damage, and potential challenges with insurers and other regulators.
AI-generated analysis. May contain errors or omissions — verify with the
original SEC source
before acting. Full disclaimer.
Asset ManagerBroker DealerBank No description available.
All Firms
No description available.
BankBroker DealerAsset Manager No description available.
The CFTC secured a U.S. District Court consent order on April 13, 2026, against Florida resident Emir Jesus Matos Camargo and his firm Aureus Revenue Group LLC for commodity pool fraud, including misrepresentations like a fake CFTC license and fund misappropriation, resulting in over $1.3 million in restitution and penalties plus permanent bans. This enforcement action underscores the CFTC's aggressive pursuit of fraud in commodity pools, particularly involving forged regulatory credentials, serving as a stark reminder for firms to verify all licensing claims and protect client funds. Compliance teams must prioritize misrepresentation controls to avoid similar liability, including controlling person exposure.
What Changed
- This is an enforcement action, not a rulemaking, so there are no new regulatory changes or requirements.
- Fraud in futures trading (CEA Section 6(c), 7 U.S.C. § 9).
- Fraud by associated persons of commodity pool operators (CPAs) (CFTC Regulation 4.41(a)(1), 17 C.F.R. § 4.41).
- Acting as an unregistered commodity pool operator (CPO) (CEA Section 4m(1), 7 U.S.C. § 6m).
- Controlling person liability for firm violations (CEA Section 13(b), 7 U.S.C. § 13c(b)), as applied to Matos over Aureus.[https://www.cftc.gov/PressRoom/PressReleases/9212-26]
Suggested Considerations
- Registration verification: Confirm CPO/AP registration status via NFA BASIC (https://www.nfa.futures.org/basicnet/) before solicitations; prohibit any implication of CFTC "licensing" without proof.
- Marketing review: Audit all promotional materials for false claims (e.g., seals, signatures, fictitious licenses); require pre-approval by compliance.
- Fund segregation: Implement strict controls on pool participant funds, including third-party custody and daily reconciliations to prevent misappropriation.
- Controlling person policies: Document oversight duties for principals; conduct gap analyses for personal liability under CEA Section 13(b).
- Training: Mandatory annual training on CEA fraud provisions, with attestations.
Key Dates
- CFTC enforcement action filed against Matos and Aureus
- U.S. District Court for the Middle District of Florida enters consent order resolving claims against Matos (action against Aureus remains pending).[https://www.cftc.gov/PressRoom/PressReleases/9212-26]
Compliance Impact
Urgency: Medium - This action highlights ongoing CFTC enforcement trends in Florida commodity pool fraud but introduces no immediate mandates. It matters for CPOs and APs due to the precedent of high penalties ($666K restitution + $666K CMP, joint/several), permanent bans, and controlling person liability; firms with similar operations face elevated exam/audit risk, especially post-2024 filings. Proactive reviews now can mitigate whistleblower tips or NFA audits.
AI-generated analysis. May contain errors or omissions — verify with the
original CFTC source
before acting. Full disclaimer.
Asset ManagerHedge FundAll Firms
The Securities and Exchange Commission today announced enforcement results for the fiscal year that ended on September 30, 2025.Central to an effective enforcement program is determining which cases to bring and responsibly stewarding Commission…
The SEC's announcement details enforcement results for Fiscal Year 2025 (ended September 30, 2025), highlighting a significant slowdown in actions to 313 cases—the lowest in a decade—and $808 million in settlements, down 45% from FY 2024, amid leadership changes and a shift to "back-to-basics" priorities like retail investor protection. This matters for compliance professionals as it signals reduced enforcement volume under new Chair Paul Atkins, potential policy resets (e.g., crypto case dismissals), and a focus on core misconduct like fiduciary breaches and insider trading, influencing risk prioritization and resource allocation.
What Changed
- This is not a rulemaking publication introducing new regulations but an annual enforcement summary reflecting operational shifts rather than formal regulatory changes. Key developments include:
- Enforcement volume decline: 313 standalone actions (down 27% from 431 in FY 2024), with only 4 new actions against public companies post-January 20, 2025 (93% of 56 public company cases initiated...
- Monetary penalties reduced: $808 million in settlements (lowest since 2012) and record-low $108 million in disgorgement.
- Policy shifts: Dismissals of high-profile crypto cases (e.g., Coinbase, Binance); new task forces on crypto and cross-border fraud; emphasis on "bread-and-butter" cases like offering fraud, insider...
- Leadership and staffing impact: Post-Gensler transition (Uyeda as Acting Chair, Atkins sworn in April 2025); ~15% Enforcement staff reduction; record Q1 actions (200 total, October-December 2024)...
Suggested Considerations
- Review and strengthen controls around core risks: insider trading, offering fraud, fiduciary duties, and retail investor disclosures.
- Self-assess exposure to legacy Gensler-era cases, especially crypto-related, anticipating potential dismissals or settlements.
- Enhance self-reporting, remediation, and cooperation protocols, as SEC continues to credit these in resolutions.
- Monitor SEC task forces on crypto and cross-border fraud for emerging priorities.
- Update firm-wide risk assessments to deprioritize novel theories (e.g., shadow trading) in favor of traditional misconduct.
Key Dates
December 31, 2024; - FY 2025 Q1; record 200 enforcement actions filed
- Inauguration Day; marker for post-transition enforcement slowdown (only 4 public company actions afterward)
- Paul Atkins sworn in as SEC Chair
- End of FY 2025; period covered by the announcement
Compliance Impact
Urgency: Medium - This reflects a transitional slowdown and policy pivot rather than imminent threats or new rules, reducing short-term enforcement pressure but requiring strategic recalibration for sustained "back-to-basics" focus on investor protection. Matters due to signaling under new leadership: firms can reallocate resources from prior high-volume pursuits (e.g., crypto) to core compliance areas, but must prepare for targeted actions on fraud and fiduciary issues amid staffing changes.
AI-generated analysis. May contain errors or omissions — verify with the
original SEC source
before acting. Full disclaimer.
Asset ManagerBroker DealerCrypto Exchange No description available.
Hedge FundAsset Manager
The Securities and Exchange Commission’s Office of Investor Education and Assistance (OIEA) today announced that as part of April’s National Financial Literacy Month it will highlight financial planning tools and resources on Investor.gov to…
Asset ManagerBroker DealerWealth Manager No description available.
BankFintechCrypto Exchange
The Securities and Exchange Commission today proposed amendments to Exchange Act Rule 15c2-11, which sets out certain information gathering and review requirements for broker-dealers that publish quotations for, or maintain a continuous quoted market in…
The SEC is proposing amendments to Exchange Act Rule 15c2-11, which governs broker-dealer quotation requirements in OTC markets outside national securities exchanges, aiming to update information review standards for enhanced investor protection. This matters for compliance professionals as it could impose stricter due diligence on broker-dealers quoting OTC securities, building on 2020 amendments amid ongoing fixed income implementation challenges, potentially reducing fraud in retail-heavy OTC markets. https://www.sec.gov/newsroom/press-releases/2026-28-sec-proposes-amendments-exchange-act-rule-15c2-11
What Changed
Rule 15c2-11 requires broker-dealers to review current, publicly available issuer information (e.g., via EDGAR or issuer websites) before publishing or submitting quotations for OTC securities, with exceptions like piggybacking limited to scenarios with one-way priced quotes, post-trading suspension restrictions (60 days), and time-bound quoting for shell companies (18 months).
Suggested Considerations
- Review processes: Broker-dealers must verify current issuer info (financials for last 2 years, filings) is publicly available (EDGAR/website) before quoting; annual checks for Phase 3 fixed income.
- Exception compliance: Limit piggyback to priced quotes, avoid 60-day post-suspension, cap shell quoting at 18 months.
- Systems updates: Implement OTC quote surveillance for fixed income/private securities; document reviews.
- Issuer coordination: OTC issuers ensure info on EDGAR/website; monitor no-action phases.
- Comment submission: Firms respond to proposal via SEC portal during consultation.
Key Dates
Federal Register publication) - Proposed comment period closes; SEC seeks input on amendments.; (Inferred from "consultation" type; exact date not in summary.) https://www.sec.gov/newsroom/press-releases/2026-28-sec-proposes-amendments-exchange-act-rule-15c2-11
Compliance Impact
Urgency: High – Builds on enforced 2020/2021 changes with fixed income phases expired (Phase 3 active since 2024), pressuring broker-dealers on ongoing quotes amid SEC scrutiny; proposals could tighten "publicly available" standards or exceptions, risking enforcement for non-compliant OTC activity in fraud-prone markets. Matters as OTC is retail-dominated, amplifying gatekeeper liability; operational overhauls needed now to avoid quoting halts.
AI-generated analysis. May contain errors or omissions — verify with the
original SEC source
before acting. Full disclaimer.
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The CFTC secured a default judgment on March 13, 2026, against New York-based Safety Capital Management Inc. and GNS Capital Inc. (d/b/a ForexnPower) for retail forex fraud, fraud as commodity pool operators (CPOs) and commodity trading advisors (CTAs), and related violations of the Commodity Exchange Act (CEA), ordering over $2.4 million in restitution and penalties. This enforcement action underscores the CFTC's aggressive pursuit of fraud targeting vulnerable retail investors, with permanent injunctions against future violations, serving as a stark reminder for firms in forex, CPO, and CTA spaces to prioritize robust compliance programs.
What Changed
This is an enforcement action, not a rulemaking, so there are no new regulatory changes or requirements. It reaffirms existing CEA prohibitions on fraud in retail forex transactions (CEA Section 6(c)(1) and Regulation 180.1), CPO/CTA fraud, and related violations, with penalties triple the monetary gain and permanent injunctions. The judgment highlights judicial emphasis on exploiting vulnerable communities, such as non-English-speaking groups reliant on advisors.
Suggested Considerations
- Conduct gap analyses of retail forex, CPO, and CTA operations for fraud risks, especially in customer communications and targeting vulnerable groups.
- Enhance disclosures, suitability assessments, and recordkeeping to demonstrate non-reliance exploitation.
- Review parallel criminal risks (e.g., wire fraud, money laundering) and coordinate with counsel for SEC/DOJ exposure.
- Implement training on CEA Sections 4k, 4m, 4n, and Regulations 5.2-5.18 for retail forex; ensure CPO/CTA exemptions are valid.
- Monitor for restitution collection, noting CFTC caution on defendant insolvency.
Key Dates
- CFTC files original complaint against defendants
- Parallel criminal case filed (United States v. Kang, et al., No. 18-cr-184, E.D.N.Y.)
- Consent order resolves claims against Tae Hung Kang
- Summary judgment resolves claims against John H. Won
- U.S. District Court for the Eastern District of New York enters default judgment against Safety Capital and GNS, ordering payments and injunctions
Compliance Impact
Urgency: Medium - This resolves a decade-long case but reinforces CFTC's fraud enforcement focus, particularly on retail forex and vulnerable investors; firms should audit operations promptly to avoid similar defaults, as penalties (triple gains) and injunctions are severe, though not indicative of imminent rulemaking.
AI-generated analysis. May contain errors or omissions — verify with the
original CFTC source
before acting. Full disclaimer.
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The Securities and Exchange Commission’s Investor Advisory Committee will hold a public meeting at the SEC Headquarters in Washington D.C. on March 12 at 10 a.m. ET to discuss public company disclosure reform, fund proxy voting, and a potential…
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Regulatory Notice 26-05
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FINRA publishes Notices to provide firms with timely information on a variety of issues. To obtain a Notice published prior to 1995, please contact FINRA MediaSource at (240) 386-4200.
Broker DealerWealth ManagerBank The Securities and Exchange Commission today announced it will hold a roundtable on March 4 to discuss private market valuations and responsible retailization.The roundtable will be hosted by the Division of Investment Management from 1 p.m. to 3 p.m. ET…
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The CFTC Enforcement Division issued an advisory on February 25, 2026, detailing two enforcement cases involving illegal trading on prediction markets (event contracts) traded on KalshiEX, a Designated Contract Market. The advisory clarifies that the CFTC maintains full enforcement authority over prediction markets and will prosecute violations including insider trading, market manipulation, and fraud—establishing critical compliance expectations for platforms and traders in this emerging asset class.
What Changed
- The advisory does not introduce new rules but rather reaffirms existing CFTC enforcement authority over prediction markets and clarifies the scope of prohibited conduct:
- Insider trading/misappropriation: Trading based on material nonpublic information obtained through a breach of fiduciary duty or pre-existing duty of trust and confidence (Section 6(c)(1) of the...
- Fraud and manipulation: Use of manipulative schemes or artifices to defraud, including trading in contracts where the trader has direct or indirect influence over the outcome
- Pre-arranged and wash trades: Noncompetitive trading under Section 4c(a)(1) and (2)(A) and Regulation 1.38(a)
- Disruptive trading practices: Violations under Section 4c(a)(5)
The advisory demonstrates the CFTC's commitment to enforce these prohibitions on prediction market platforms, reinforcing that...
Suggested Considerations
- *For Prediction Market Platforms (DCMs):
- *Implement robust surveillance systems to detect trading by individuals with material nonpublic information or direct/indirect influence over contract outcomes
- *Establish clear trading prohibitions in exchange rules addressing:
- Trading in contracts where the trader has influence over the outcome
- Trading based on material nonpublic information obtained through breach of duty
Key Dates
- First enforcement case (political candidate trading incident) identified and resolved by Kalshi
- CFTC Enforcement Division issues Prediction Markets Advisory
September 2025; - Second enforcement case (YouTube editor trading incident) identified and resolved by Kalshi
- Advisory does not establish new compliance deadlines; it clarifies existing obligations
Compliance Impact
Urgency: HIGH
AI-generated analysis. May contain errors or omissions — verify with the
original CFTC source
before acting. Full disclaimer.
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FINRA publishes Notices to provide firms with timely information on a variety of issues. To obtain a Notice published prior to 1995, please contact FINRA MediaSource at (240) 386-4200.
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No description available.
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BankFintechCrypto Exchange FINRA publishes Notices to provide firms with timely information on a variety of issues. To obtain a Notice published prior to 1995, please contact FINRA MediaSource at (240) 386-4200.
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Equity-Indexed Annuities
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Engagement
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Enforcement Process
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Enforcement
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Electronic Fingerprint Processing
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Electronic Communications
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Direct Participation Programs (DPPs)
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Digital Experience Transformation (DXT)
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Compensation
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Regulatory Notice 25-02
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Information Notice - 10/21/25
FINRA's Information Notice dated October 21, 2025, reminds member firms of NSCC's amendment to Rule 50, effective October 17, 2025, which removes the "Settle Prep Day" from the ACATS process, shortening full customer account transfers to 3-4 business days. This matters because it aligns with FINRA Rule 11870's requirements to expedite transfers, enhances operational efficiency, reduces risk, and improves client experience amid broader industry shifts like T+1 settlement.[original notice]
What Changed
- - Removal of Settle Prep Day: NSCC Rule 50 amended to eliminate the settlement preparation stage from ACATS, effective October 17, 2025, streamlining the process for all securities...
- Mutual Fund/Options Synchronization: Eliminates the extra day for processing mutual funds and options via Fund/SERV, aligning their settlement with other assets; also removes the second day of...
- Overall Timeline Reduction: Full ACATS transfers now complete in 3-4 business days (previously longer), supporting faster asset access without manual processes.
- FINRA Rule 11870 remains unchanged but continues to mandate use of ACATS (when both firms participate), prompt validation/exceptions, and coordination to expedite transfers.[original notice]
Suggested Considerations
- Operational Readiness: Coordinate between transfer and settlement operations to handle shortened cycles and next-day settling; validate/except instructions within 3 business days per FINRA Rule 11870(b).[original notice]
- Exception Handling: Promptly resolve any transfer instruction exceptions (Rule 11870(b)(2)); ensure ACATS data meets minimum requirements to avoid rejections.
- System Updates: Migrate to new ACATS interfaces/formats ahead of October 2026 decommission; test for mutual funds, options, and complex assets.
- Contact FINRA/NSCC: Direct questions to Kathryn Mahoney (FINRA) at (646) 315-8428 or email; reference NSCC Important Notice A9646 for details.[original notice]
- Monitoring: Firms should already be compliant as enhancement launched October 17, 2025; address any post-implementation issues via DTCC support.
Key Dates
- SEC approves NSCC's proposed rule change (File No. SR-NSCC-2025-011) amending Rule 50.[original notice]
- Federal Register publication of SEC approval (90 FR 43709).[original notice]
- Effective date: Removal of Settle Prep Day and Fund/SERV changes; firms must support next-day settling assets.[original notice]
- Planned modernization of ACATS client interfaces (decommission of legacy formats; migration to JSON/MQ for enhanced messaging)
Compliance Impact
Urgency: Medium - Effective over three months ago (as of January 2026), with industry-wide accommodation confirmed; no new mandates but requires ongoing operational alignment to avoid Rule 11870 violations (e.g., delays in validation or exceptions). Matters for reducing transfer failures, enhancing efficiency post-T+1, and minimizing client complaints on account mobility; non-compliance risks FINRA scrutiny on customer protection.[original notice]
AI-generated analysis. May contain errors or omissions — verify with the
original FINRA source
before acting. Full disclaimer.
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Regulatory Notice 25-16
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Regulatory Notice 26-02
Broker DealerWealth ManagerBank The Securities and Exchange Commission is seeking candidates for appointment as members of the SEC’s Investor Advisory Committee, established pursuant to Section 39 of the Securities Exchange Act of 1934 to help protect investors and improve securities…
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The Securities and Exchange Commission is seeking candidates to fill a limited number of vacancies on the agency’s Small Business Capital Formation Advisory Committee, which provides advice and recommendations to the Commission on rules, regulations, and…
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The CFTC announced three major enforcement actions on January 16, 2026, resolving cases involving **market manipulation (spoofing), misappropriation of confidential information, and unregistered commodity pool operations**. These cases demonstrate the CFTC's continued enforcement focus on fraudulent trading practices and registration violations, with combined penalties exceeding $685,000 and criminal sentences totaling over six years in prison.
What Changed
The enforcement actions establish precedent in three critical areas:
Market Manipulation (Spoofing): The CFTC secured consent orders against precious metals futures traders for spoofing—placing and canceling orders to create false market impressions. The orders impose three-year and six-month trading bans and require cease-and-desist compliance with the Commodity Exchange Act's spoofing prohibition.
Misappropriation and Fictitious Trading: The CFTC obtained permanent injunctive relief requiring disgorgement of unlawful gains ($135,788) plus civil penalties ($200,000), with 18-month trading...
Suggested Considerations
- *For Registered Futures Firms and Banks:
- trade and post-trade compliance controls
- *For Commodity Pool Operators and Investment Advisors:
- by-jurisdiction licensing analyses before soliciting investors
- *For All Market Participants:
Key Dates
- CFTC enforcement action filed against Smith and Nowak
- CFTC complaint filed against Miller and Omerta Capital; DOJ criminal charges filed
- CFTC complaint amended against Miller and Omerta Capital
- Smith and Nowak sentenced to prison (criminal case)
- Miller sentenced to prison (criminal case)
Compliance Impact
Urgency: HIGH
AI-generated analysis. May contain errors or omissions — verify with the
original CFTC source
before acting. Full disclaimer.
The CFTC has announced enforcement updates, including civil monetary penalties and trading bans for spoofing in precious metals futures markets and misappropriating confidential information. These updates highlight the importance of compliance with CFTC regulations. Firms must ensure they are registered and comply with anti-spoofing and anti-fraud regulations.
What Changed
The CFTC has obtained federal court orders imposing civil monetary penalties and trading bans on individuals and firms for spoofing and misappropriating confidential information. The CFTC has also charged an unregistered commodity pool operator with fraud and registration violations.
Suggested Considerations
- Verify registration with the CFTC at NFA BASIC before committing funds
- Review and update anti-spoofing and anti-fraud policies and procedures
- Ensure compliance with CFTC regulations regarding commodity pool operations and futures market participation
Key Dates
CFTC enforcement action filed against Gregg Smith and Michael Nowak
Department of Justice charged Peter Miller with conspiracy to commit commodities fraud
Peter Miller sentenced to five months in prison and five months of home confinement
Department of Justice charged Travis Ford with conspiracy to commit wire fraud
Potential Consequences
Enforcement action, fines, trading bans, and registration revocation
Related Regulations
Commodity Exchange ActCFTC regulations
Confidence: high
AI-generated analysis. May contain errors or omissions — verify with the
original CFTC source
before acting. Full disclaimer.
Broker DealerAsset ManagerCrypto Exchange The Securities and Exchange Commission today announced it will hold its third and final outreach event to help firms comply with amendments to Regulation S-P. The event, which is focused on small firms, is open to in-person or virtual attendance, and is…
Asset ManagerBroker DealerWealth Manager The Securities and Exchange Commission’s Office of the Advocate for Small Business Capital Formation today published and delivered to Congress its 2025 staff report that serves as a comprehensive and data-rich resource on capital-raising dynamics…
Asset ManagerBroker DealerWealth Manager The Securities and Exchange Commission today filed charges against purported crypto asset trading platforms Morocoin Tech Corp., Berge Blockchain Technology Co. Ltd., and Cirkor Inc. and investment clubs AI Wealth Inc., Lane Wealth Inc., AI Investment…
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The Securities and Exchange Commission’s Office of the Investor Advocate today delivered its Report on Activities for the Fiscal Year 2025 to Congress, highlighting the initiatives and work of the office during the fiscal year.The report includes:An…
Asset ManagerBroker DealerCrypto Exchange The Securities and Exchange Commission today charged Canadian citizen Nathan Gauvin and three entities he controls—Blackridge, LLC, Gray Digital Capital Management USA, LLC, and Gray Digital Technologies, LLC—with orchestrating two fraudulent securities…
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The Securities and Exchange Commission today announced that Lori J. Schock, who has served as the Director of the Office of Investor Education and Assistance (OIEA) since 2009, will retire from the agency at the end of December.“I have known Lori for…
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The Securities and Exchange Commission today announced that Cristina Martin Firvida, who has served as the Director of the Office of the Investor Advocate since January 2023, will conclude her tenure with the agency at the end of January 2026. As…
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The Securities and Exchange Commission’s Crypto Task Force has rescheduled its Financial Surveillance and Privacy Roundtable, previously scheduled for October, to Monday, Dec. 15, 2025.“I am looking forward to getting this event back on the calendar…
BankBroker DealerCrypto Exchange The CFTC today announced the U.S. District Court for the Central District of California entered a final judgement against Safeguard Metals LLC and Jeffrey Ikahn (aka Jeffrey Santulan and Jeffrey Hill) ordering them to pay $25.6 million in restitution to victims and a $25.6 million civil monetary penalty for operating a nationwide, precious metals fraud. Released: 11/20/2025
The CFTC, alongside 30 state regulators, secured a final judgment on November 20, 2025, against Safeguard Metals LLC and Jeffrey Ikahn, imposing $25.6 million in restitution to victims and a $25.6 million civil monetary penalty for a nationwide precious metals fraud scheme from October 2017 to July 2021 that defrauded over 450 elderly investors of more than $52 million. This enforcement action, resolving a February 2022 complaint, highlights coordinated federal-state-SEC efforts to combat commodity fraud and underscores personal liability for controlling persons under CEA Section 6(c)(1) and Regulation 180.1(a). It matters for compliance as it reinforces aggressive penalties for misrepresentations, overcharges, and targeting vulnerable populations, with offsets across parallel SEC proceedings.
What Changed
This is an enforcement action, not a rulemaking, so there are no new regulatory changes or requirements. It reaffirms existing CEA prohibitions on fraud, including Section 6(c)(1), 7 U.S.C. § 9(1), and 17 C.F.R. § 180.1(a)(1)-(3), covering material misrepresentations, omissions, and deceptive schemes in precious metals sales.
Suggested Considerations
- Conduct immediate fraud risk assessments on precious metals sales scripts, disclosures, and pricing markups to ensure no material misrepresentations or undisclosed overcharges.
- Enhance senior investor protections, including suitability reviews, cooling-off periods, and training on vulnerable customer targeting bans.
- Review controlling person policies for good faith oversight, documenting supervisory failures to avoid personal liability.
- Audit parallel SEC/CFTC exposures in commodity-linked activities, preparing for offset calculations in multi-agency actions.
- Update compliance manuals with this case as precedent for CEA fraud in physical commodities; monitor whistleblower notices for internal reporting incentives.
Key Dates
- CFTC and states file initial complaint alleging fraud scheme
- Plaintiffs file First Amended Complaint
- Second Amended Complaint filed
- Court enters SEC remedies judgment ($25.6M disgorgement/penalty, with offsets)
- Court issues Statement of Decision granting restitution ($25.6M) and civil penalty ($25.6M)
Compliance Impact
Urgency: Medium - This resolved enforcement sets precedent for precious metals fraud penalties but imposes no new rules or immediate deadlines beyond whistleblower claims (March 9, 2026). It matters due to escalating CFTC-state coordination, personal liability risks, and focus on elder fraud amid rising retail commodity scams; firms in metals or alternatives face audit risks if sales practices mirror the scheme (e.g., overcharges, false safety claims).
AI-generated analysis. May contain errors or omissions — verify with the
original CFTC source
before acting. Full disclaimer.
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The Securities and Exchange Commission today published a concept release soliciting public comment on how to improve current SEC rules governing residential mortgage-backed securities (RMBS) and certain aspects of asset-backed securities (ABS) generally…
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