- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-01-23T20:26:00
Bloomberg Finance agreed to pay a $5 million fine for alleged misleading disclosures it made about how it calculated the valuations it provided on fixed-income securities to the financial services industry.
From at least 2016 to October 2022, Bloomberg failed to disclose valuations offered through its paid subscription service, BVAL, could be affected by a single data input, such as a broker quote, the Securities and Exchange Commission (SEC) said Monday in a press release.
Bloomberg disclosed to its BVAL customers “that its independent valuations of fixed income securities are derived by using proprietary algorithmic methodologies,” the SEC said in its order, and described those methodologies in detail.
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2021-06-14T18:32:00Z By Kyle Brasseur
SEC Chair Gary Gensler expressed his support for the Fed-backed Secured Overnight Financing Rate over the Bloomberg Short-Term Bank Yield Index, which he believes has similarities to LIBOR that could be manipulated.
2025-04-02T18:50:00Z By Aaron Nicodemus
The Securities and Exchange Commission (SEC)’s pivot in favor of crypto took another step as the agency indicated it wants to resolve a long-standing lawsuit against the crypto exchange Gemini.
2025-04-01T16:04:00Z By Aaron Nicodemus
The Trump administration has taken two actions to attack money laundering rings operating in Mexico, highlighting the U.S. government’s focus on curbing the fentanyl trade and the illegal profits it generates.
2025-03-27T13:11:00Z By Jeff Dale
The U.K. Financial Reporting Council issued penalties against PwC and a former auditor over deficiencies on work related to the 2019 financial statements of now shuttered Wyelands Bank.
2025-03-27T12:49:00Z By Aaron Nicodemus
Yet another government contractor has been slapped with a fine by the Department of Justice for applying lax cybersecurity defenses on sensitive government data.
2025-03-26T18:48:00Z By Oscar Gonzalez
The European Commission released its preliminary findings last week regarding Apple and Google not complying with the Digital Markets Act. It issued orders to both companies regarding their business practice and plans to release all of its findings next week.
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