Key securities industry trade associations are challenging the disclosure procedures of a cybersecurity rule adopted in 2023 by the U.S. Securities and Exchange Commission (SEC), asking the regulator to return to a principles-based disclosure regime. SIFMA, the American Bankers Association (ABA), the Bank Policy Institute (BPI), the Independent Community Bankers of America (ICBA), and the… Read More >>
PIMCO Settles Disclosure & Procedure Case for $9M
Pacific Investment Management Company LLC (PIMCO) has agreed to a $9 million settlement with the Securities and Exchange Commission (SEC) over two enforcement actions concerning alleged disclosure violations and policies and procedures woes directly related to two funds that the bond giant oversees. “In the first action, the SEC found that, from September 2014 to… Read More >>
Swap Dealer Fined $3M for Alleged Disclosure Failures
A London-based swap dealer, ED&F Man Capital Markets, Ltd. (ED&F Man) has reached a $3.25 million settlement with the Commodity Futures Trading Commission (CFTC) that ends a case involving charges of reporting woes, supervisory failures, and conflicts of interest that underscore the pitfalls securities firms face when trading via multiple jurisdictions. ED&F Man officials signed… Read More >>
