A broker-dealer settled FINRA charges for incomplete and inaccurate Regulation NMS and Order Audit Trail System reporting.
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The Federal Reserve Board adopted an interim final rule to further extend an exception for bank executive officers, directors and principal shareholders to apply for Paycheck Protection Program loans from related bank affiliates on behalf of small businesses they own.
In an industry letter, the New York State Department of Financial Services stated that banking institutions that are subject to the New York Community Reinvestment Act may receive credit for financing climate resiliency projects in low- and moderate-income communities.
A firm settled FINRA charges for (i) effecting unsuitable switches of Class A mutual fund shares that resulted in customer losses and (ii) failing to establish a supervisory system to monitor inappropriate rates of variable annuity exchanges.
A Federal Reserve Board final rule to "lower reserve requirement ratios on transaction accounts maintained at depository institutions to zero percent" was published in the Federal Register.