The Government Accountability Office found that SEC's organizational culture "operates in a compartmentalized way" that involves minimal communication and collaboration between its divisions.

BlackRock Inc. agreed to pay a $340,000 penalty to settle SEC charges alleging violations of the whistleblower provisions of the Dodd-Frank Act by entering into separation agreements that required employees to waive the ability to obtain whistleblower awards.

Morgan Stanley Smith Barney LLC, an investment advisory firm, agreed to pay a $13 million penalty to settle SEC charges alleging the firm (i) overbilled investment advisory clients, and (ii) committed custody examination, and books and records violations under the Investment Advisers Act.

Ten investment advisory firms agreed to pay penalties ranging from $35,000 to $100,000 to settle SEC charges alleging violations of "pay-to-play" rules.

CNCGC Hong Kong Ltd., an investment and trading company, agreed to pay a $150,000 civil monetary penalty to settle CFTC charges alleging violations of "Cotton on-Call" reporting requirements.