At a hearing before the Senate Committee on Banking, Housing, and Urban Affairs, witnesses addressed the use of mandatory arbitration clauses in financial service products.

A registered investment adviser settled SEC charges for compliance failures related to (i) best execution, (ii) mutual fund share class selection practices, and (iii) billing practices.

FINRA reported that the Government Accounting Support Standards Board Accounting Support fee for 2022 will be $12,508,400.

The SEC charged a capital fund adviser group with making misleading statements about management fees and engaging in inter-fund transactions in breach of fund operating agreements.