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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-08-18T14:01:00
The Securities and Exchange Commission’s (SEC) two Republican commissioners dissented from an agency order against a Massachusetts-based transfer agent they deemed to be an example of regulation by enforcement.
DST Asset Manager Solutions was fined $500,000 as part of its settlement with the SEC announced Thursday, but Commissioners Hester Peirce and Mark Uyeda took issue with another undertaking: a requirement that DST “[r]equest that its mutual fund clients periodically send out notifications to their client shareholder base informing them of the risk of escheatment and educating them on steps to take to avoid dormancy, including updating their addresses and otherwise establishing contact with the funds or DST.”
The commissioners, in a dissenting statement, described the requirement as “an undertaking that effectively imposes a substantive new disclosure requirement on mutual funds.”
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News and analysis for the well-informed compliance or audit exec.
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2023-07-18T21:06:00Z By Aaron Nicodemus
A judge’s ruling the token XRP does not intrinsically possess the characteristics of a security that must be registered with the Securities and Exchange Commission has not cleared the uncertainty that remains around the regulation of digital assets, according to experts.
2023-06-22T16:08:00Z By Jeff Dale
The convicted former chief compliance officer at an unnamed New York-based investment adviser was barred from working in the industry by the Securities and Exchange Commission.
2022-09-16T14:30:00Z By Kyle Brasseur
To see a prominent representative from the CFTC accuse the SEC of “regulation by enforcement” might raise the eyebrow of some observers. But it shouldn’t—not when that’s the latter’s stated strategy.
2024-07-26T19:18:00Z By Jeff Dale
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
2024-07-26T13:36:00Z By Adrianne Appel
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
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