The U.S. Securities and Exchange Commission (SEC) has announced a significant enforcement action against GlennCap LLC, a Connecticut-based investment advisory firm, and its owner, Jonathan Vincent Glenn. The charges stem from allegations of fraudulent activities, specifically the unfair allocation of securities trades, a practice commonly referred to as "cherry-picking."
The U.S. Securities and Exchange Commission (SEC) has announced a settlement with YieldStreet Inc. and its registered investment adviser subsidiary, YieldStreet Management LLC, over allegations of failing to provide crucial information to investors in a $14.5 million asset-backed securities offering.
Toronto-Dominion Bank (TD), one of Canada's largest financial institutions, remains optimistic and views the ongoing anti-money laundering probe by U.S. authorities as "manageable." This statement comes from Leo Salom, the CEO of TD Bank's U.S. unit, as he addressed concerns during a recent Barclays conference.
In the ever-evolving landscape of artificial intelligence, U.S. Senate Majority Leader Chuck Schumer has called for a prudent and considered approach to crafting regulations in the field. While acknowledging the imperative for regulations to oversee the burgeoning AI sector, Senator Schumer emphasized the need to strike a balance and cautioned against hasty decision-making.
The U.S. Securities and Exchange Commission (SEC) has filed charges against Virtu Americas LLC, a prominent broker-dealer, and its parent company, Virtu Financial Inc., collectively referred to as Virtu. The charges stem from allegations of materially false and misleading statements and omissions regarding information barriers intended to prevent the misuse of sensitive customer information.
The U.S. Department of Health and Human Services’ Office for Civil Rights (OCR) has reached a settlement with LA Care Health Plan, the largest publicly operated health plan in the United States, over potential violations of the Health Insurance Portability and Accountability Act (HIPAA) Rules. This settlement underscores the critical importance of safeguarding protected health information (PHI) and adhering to HIPAA regulations.
Jamie Dimon, CEO of JPMorgan Chase, has voiced strong criticism of a recent U.S. proposal that calls for banks to increase their capital buffers. In his remarks, Dimon referred to the proposal as "hugely disappointing" and expressed concerns about its potential impact on the U.S. economy.