A broker-dealer settled charges with FINRA for failing to maintain an anti-money laundering program that could be reasonably expected to detect and report suspicious transactions.
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The Financial Stability Oversight Council finalized interpretive guidance and an analytical framework for designating nonbank financial companies for regulation.
SEC Commissioner Mark T. Uyeda highlighted current regulatory challenges concerning (i) the definition of "dealer" under the Exchange Act, (ii) the lack of guidance over cryptocurrencies and (iii) the handling of off-channel communications by broker-dealers.
The SEC set an effective date of January 2, 2024 and accompanying compliance dates for new Exchange Act Rule Rule 10c-1. The final rule was published in the Federal Register.
The SEC set a comment deadline of January 5, 2024 for a proposed rule that would prohibit national securities exchanges from offering volume-based transaction pricing. The comment deadline was published in the Federal Register.