Two broker-dealer firms settled SEC charges for recordkeeping violations associated with the use of "off-channel" communications.

A broker-dealer and one of its owners settled FINRA charges for failure to maintain the required minimum net capital while conducting securities business.

The SEC Division of Examinations highlighted findings from its assessment of investment advisers’ preparedness for the cessation of LIBOR.

House Financial Services Committee members urged the SEC to withdraw its proposed rule on “Safeguarding Advisory Client Assets.” The legislators argued that the proposal (i) deviates from traditional custody practices, (ii) increases the cost of custodial services and (iii) lacks a comprehensive economic analysis.

The FDIC proposed imposing special assessments to recover losses to the Deposit Insurance Fund resulting from the FDIC making whole all uninsured depositors of Silicon Valley Bank and Signature Bank.