Posts from April 2020.
Three Firms’ Failure to Disclose Conflicts of Interest Lead to Almost $1 Million in Disgorgement, Interest

The U.S. Securities and Exchange Commission (“SEC”) recently announced settled charges against two advisers that self-reported conflicts of interest as a part of the Share Class Selection Disclosure Initiative.

OCIE Risk Alert—Examinations Focused on Initial Compliance With Regulation Best Interest

As firms work to prepare their updated disclosures and move toward compliance by June 30, 2020 with the new Regulation Best Interest (“Reg BI”), the Securities and Exchange Commission (“SEC”) made two important announcements.  As a reminder, Reg BI establishes a new standard of conduct for broker-dealers and their associated persons when making a recommendation of any securities transaction or investment strategy involving securities (including account recommendations) to a retail customer.

Lone Star Value Management Firm and Founder Pay to Settle SEC Disclosure Charges

Lone Star Value Management LLC (“Lone Star”) and its owner Jeffrey Eberwein settled with the Securities and Exchange Commission (“SEC”) over charges that it executed 21 trades without disclosing they were principal trades.

SEC Grants Regulatory Relief for Firms Affected by COVID-19

The Securities and Exchange Commission (“SEC”) has announced that it will provide conditional regulatory relief for companies affected by the novel coronavirus (COVID-19).

SEC Updates its Public Alert Website, Adding Entities and Enhancing Capabilities

The Securities and Exchange Commission (SEC) recently upgraded its Public Alert: Unregistered Soliciting Entities (PAUSE) website adding 25 soliciting entities and four false regulators and enhancing its accessibility for Main Street investors.

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