A Minnesota-based broker-dealer settled SEC charges for improperly switching variable annuities in violation of SEC rules on offers to exchange securities.
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The SEC proposed rule amendments to address "certain broad categories of investment company names that are likely to mislead investors about an investment company's investments and risks."
A New York-based broker-dealer and one of its co-founders settled SEC charges for misleading customers by falsely claiming that the firm did not restrict customers' purchases of "meme stocks" during high levels of volatility.
Acting OCC Comptroller Michael J. Hsu warned that the cryptocurrency market is becoming too heavily reliant on "hype" to generate interest in crypto investments and cautioned that hype-driven growth causes bubbles that can harm consumers and crowd out productive innovation.
The National Credit Union Administration provided guidance to credit unions on the adoption of financial technology.