The Securities and Exchange Commission (SEC) has levied a $1.8 million fine against Sound Point Capital Management LP. The New York-based investment adviser settled charges on August 26, 2024, related to inadequate policies for handling material nonpublic information (MNPI) in its collateralized loan obligation (CLO) trading operations.
The City of Los Angeles has agreed to pay $38.2 million to settle allegations of misusing Department of Housing and Urban Development (HUD) grant funds. The settlement, announced on August 26, 2024, resolves claims that the city knowingly violated federal accessibility requirements in its affordable housing projects over a period of more than a decade.
In a follow-up to last week's headline-grabbing $98 million whistleblower award, the Securities and Exchange Commission (SEC) has announced another significant payout, this time totaling $24 million to two whistleblowers who provided crucial information about overseas misconduct.
The Securities and Exchange Commission (SEC) has awarded a staggering $98 million to two whistleblowers. The announcement, made on August 23, 2024, underscores the critical role that individuals play in uncovering financial misconduct.
The Consumer Financial Protection Bureau (CFPB) has taken decisive action against Fay Servicing, a nonbank mortgage servicer, for continued violations of mortgage servicing laws and non-compliance with a previous enforcement order. The CFPB's latest order, issued on August 21, 2024, requires Fay Servicing to pay $5 million in redress and penalties, and imposes potential compensation limits on its CEO, Edward Fay.
The Office of the Comptroller of the Currency (OCC) has released its monthly report on enforcement actions taken against national banks, federal savings associations, and individuals affiliated with OCC-supervised institutions.
The Securities and Exchange Commission (SEC) has adopted a new rule that will require venture capital funds to reassess their compliance status under the Investment Company Act of 1940. The rule, announced today, updates the definition of "qualifying venture capital funds" by raising the capital threshold from $10 million to $12 million.