The Securities and Exchange Commission’s Office of Credit Ratings published its annual Staff Report to Congress today on Nationally Recognized Statistical Rating Organizations (NRSROs), commonly known as credit rating agencies, to provide findings… SEC Press Release
Enforcement
SEC Charges TIAA Subsidiary for Failing to Act in the Best Interest of Retail Customers
The Securities and Exchange Commission today announced that registered broker-dealer TIAA-CREF Individual & Institutional Services LLC (TC Services), a subsidiary of Teachers Insurance and Annuity Association of America (TIAA), will pay more than $2.… SEC Press Release
SEC Small Business Advisory Committee to Discuss the Accredited Investor Definition and the State of the IPO Market
The Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee today released the agenda for its meeting on Tuesday, Feb. 27, which will include a discussion of the accredited investor definition and initial public offerings… SEC Press Release
SEC Proposes Rule to Update Definition of Qualifying Venture Capital Funds
The Securities and Exchange Commission today proposed a rule that would update the dollar threshold for a fund to qualify as a “qualifying venture capital fund” for purposes of the Investment Company Act of 1940 (Act). The rule would update the dollar… SEC Press Release
Sixteen Firms Agree to $81 Million to Settle Charges for Recordkeeping Failures
By Mark J. Astarita For months we have been advising financial firms to pay attention to the use of messaging services by their employees and to avoid penalties for recordkeeping failures. Firms are required to maintain archival records of all business-related communications. The SEC‘s crackdown started in the middle of […]
SEC Adopts Amendments to Enhance Private Fund Reporting
The Securities and Exchange Commission today adopted amendments to Form PF, the confidential reporting form for certain SEC-registered investment advisers to private funds, including those that also are registered with the Commodity Futures Trading… SEC Press Release
SEC Charges TradeStation Crypto for Unregistered Offer and Sale of Crypto Asset Lending Product
The Securities and Exchange Commission today announced charges against TradeStation Crypto, Inc., based in Plantation, Florida, for failing to register the offer and sale of a crypto lending product that allowed U.S. investors to deposit or purchase… SEC Press Release
SEC Charges China-Based Tech Company Cloopen Group with Accounting Fraud
The Securities and Exchange Commission today announced settled accounting fraud charges against Cloopen Group Holding Limited, a China-based provider of cloud communications products and services whose American depositary shares formerly traded on the… SEC Press Release
SEC Adopts Rules to Include Certain Significant Market Participants as “Dealers” or “Government Securities Dealers”
The Securities and Exchange Commission today adopted two rules that require market participants who engage in certain dealer roles, in particular those who take on significant liquidity-providing roles in the markets, to register with the SEC, become… SEC Press Release
SEC Charges Founder of American Bitcoin Academy Online Crypto Course with Fraud Targeting Students
The Securities and Exchange Commission (SEC) has stepped forward to address a notable issue. This situation serves as a stark warning for students and investors about the risks of navigating the complex and often murky waters of digital currency investments. The Rise and Fall of a Crypto Education Venture Unveiling […]
