- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2021-07-27T17:15:00
The Securities and Exchange Commission levied penalties totaling $910,092 across settlements with 21 investment advisers and six broker-dealers for failing to timely file and deliver Form CRS to retail investors.
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Staff at the Securities and Exchange Commission warned investment advisers and broker-dealers they must continually identify, mitigate, and disclose all conflicts of interest regarding advice they make to retail investors to remain in compliance with Regulation Best Interest.
The Financial Industry Regulatory Authority’s annual report on examinations and risk monitoring contains insights on issues the organization uncovered regarding broker-dealers’ compliance with Regulation Best Interest during the rule’s first full year in existence.
Financial institutions complying with the SEC’s new Regulation Best Interest standard have particularly struggled with training staff and how to identify and eliminate potential conflicts of interest, regulators said during an online forum.
Three months after a U.S. district judge declared Google to be running a monopoly, the Department of Justice recommended the tech giant be forced to sell off its popular Chrome browser as part of an effort to resolve antitrust concerns and reshape the power of tech’s biggest companies.
A bank examiner and senior manager at the Federal Reserve Bank of Richmond pled guilty to insider trading after allegedly misappropriating confidential information on seven banks to make profitable trades.
New York-based investment firm Drexel Hamilton will pay more than $1.1 million in penalties, with four current and former employees paying fines as well over committing hundreds of violations of rules regarding the sale of municipal bonds.
