- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2020-06-16T15:46:00
The SEC confirmed the June 30 compliance date for its Regulation Best Interest rule, in addition to sharing a handful of areas that deserve attention when making recommendations to investors in accordance with new policy.
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Western International Securities and five of its brokers have been charged by the Securities and Exchange Commission with violating Regulation Best Interest when they sold high-risk debt securities to investors who weren’t aware of the risks.
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.
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.
Data brokers have been getting away with selling Americans’ personal and financial data, an illegal practice that a new rule proposed by the Consumer Financial Protection Bureau will intend to stop, CFPB Director Rohit Chopra said.
In striking down penalties against cryptocurrency mixer Tornado Cash for violating U.S. sanctions, a federal appeals court may have started to chip away at anti-money laundering regulations established by Democrats even before President-elect Donald Trump takes office.
The Department of Justice has added antitrust compliance guidance in an update to its Evaluation of Corporate Compliance Programs.
