Compliance & Ethics

SEC Charges American Infrastructure Funds with Breach of Fiduciary Duty, Resulting in Over $1.6 Million Settlement

The Securities and Exchange Commission (SEC) has announced that American Infrastructure Funds LLC (AIM), a registered investment adviser to private funds based in Foster City, California, has agreed to pay over $1.6 million to settle charges related to breaches of its fiduciary duties.

Goldman Sachs to Pay SEC $6 Million in Penalties for Providing Deficient Blue Sheet Data

Goldman Sachs & Co. LLC has reached a settlement with the Securities and Exchange Commission (SEC) over charges of inadequate provision of securities trading information, commonly referred to as blue sheet data. The settlement involves a $6 million penalty to resolve the SEC's charges.

CFTC Orders StoneX Markets LLC to Pay $650,000 for Violations of Swap Business Conduct Standards

The Commodity Futures Trading Commission (CFTC) has taken enforcement action against StoneX Markets LLC (StoneX), a registered swap dealer, for violations related to the agency's Business Conduct Standards governing swap dealers. The CFTC's order, which combines filing and settlement, outlines the charges against StoneX and imposes a $650,000 civil monetary penalty.

EU Watchdog Scrutinizes Banks' Defenses After SVB, Credit Suisse Woes

The Single Resolution Board (SRB), a European Union regulator, has indicated that while most leading euro zone banks have met the January 2024 target for issuing special debt to bolster capital during a crisis, some institutions need to enhance their preparedness for rapid crisis response.

SEC Issues New Strategic Plan for Diversity, Equity, Inclusion, and Accessibility

The Securities and Exchange Commission (SEC) has unveiled its new Diversity, Equity, Inclusion, and Accessibility (DEIA) Strategic Plan for fiscal years 2023-2026. This strategic plan represents a significant step forward in the SEC's commitment to fostering diversity, equity, inclusion, and accessibility within the organization and across the broader financial industry.

SEC Charges CBRE, Inc. with Violating Whistleblower Protection Rule

The Securities and Exchange Commission (SEC) has announced that it has reached a settlement with CBRE, Inc., a Dallas-based commercial real estate services and investment firm, and a subsidiary of publicly traded CBRE Group, Inc. The charges stem from CBRE's use of an employee release that violated the SEC's whistleblower protection rule.

FinCEN Releases Compliance Guide to Aid Small Businesses in Reporting Beneficial Ownership Information

The U.S. Department of the Treasury's Financial Crimes Enforcement Network (FinCEN) has unveiled a Small Entity Compliance Guide, aiming to assist small businesses in adhering to the beneficial ownership information (BOI) reporting rule. Beginning in 2024, numerous entities established or registered to operate in the United States will be mandated to report details about their beneficial owners – the individuals who ultimately own or control a company – to FinCEN. This guide has been created to aid businesses in determining whether they are obligated to report their beneficial ownership information to FinCEN.