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SEC Charges 6 Credit Rating Agencies with significant recordkeeping failures.

SEC Charges 6 Credit Rating Agencies with significant recordkeeping failures. The Firms admit to wrongdoing and agree to pay penalties totaling more than $49 million to settle SEC charges.

The Securities and Exchange Commission (SEC) announced charges against six nationally recognized statistical rating organizations (NRSROs) for failing to maintain and preserve electronic communications as required by federal securities laws. The firms admitted to the violations, agreed to pay over $49 million in combined civil penalties, and have begun implementing

NSCC Rule 22 For Throwing Out Rules, Procedures, and/or Regulations

PETITION TO ENFORCE RULES! NOT WAIVERS!

Ever felt cheated in the Wall St casino? You probably were. We've been robbed and the rules of Wall St's casino allows them to. The National Securities Clearing Corporation (NSCC), which clears and settles stock trades, has a Rule for throwing out rules [NSCC Rules]. The

SEC Commissioner Mark T. Uyeda from his statement on Form N-PORT and From N-CEN reporting: "I reject the premise that frequent public disclosure of consistent information made available for all funds is a “public good.”"

SEC Commissioner Mark T. Uyeda from his statement on Form N-PORT and From N-CEN reporting: "I reject the premise that frequent public disclosure of consistent information made available for all funds is a “public good.”"

Just as SEC Commissioner Hester Peirce, SEC Commissioner Mark Uyeda dissents against the SEC's Form N-PORT and Form N-CEN reporting amendments. Uyeda has criticized the SEC’s decision to increase the frequency of public disclosure of fund portfolio data, arguing that the move could harm fund investors and

CFTC Awards Over $4 Million to Insider Whistleblower

CFTC Awards Over $4 Million to Insider Whistleblower, meaning the fine levied ranged between $13.33 million to $40 million.

The Commodity Futures Trading Commission (CFTC) announced an award of over $4 million to an insider whistleblower whose information led to the opening of an investigation into ongoing misconduct, meaning the fine levied ranged between $13,333,333.33 - $40,000,000.00 million. The whistleblower, who had detailed

Hester Peirce "I cannot support this rulemaking."

Hester Peirce in her statement on the Adoption of Form N-PORT & N-CEN Reporting: "the Commission oversells the benefits of today’s amendments and gives too little attention to the costs" "I cannot support this rulemaking."

SEC Commissioner Hester Peirce Criticizes New Fund Reporting Rules for 'High Costs' and 'Limited Benefits': In her statement on adoption of Form N-PORT and Form N-CEN reporting, SEC Commissioner Hester Peirce voiced strong opposition to the SEC's newly adopted amendments to fund reporting rules.

Real gross domestic product (GDP) increased at an annual rate of 3.0% in Q2:2024

Real gross domestic product (GDP) increased at an annual rate of 3.0% in Q2:2024, according to the "second" estimate released by the U.S. Bureau of Economic Analysis, which was up from 2.8% in the 'advance' estimate.

U.S. GDP grows at 3.0% in Q2 2024, reflecting strong consumer spending: The U.S. economy grew at an annual rate of 3.0% in the second quarter of 2024, according to the "second" estimate released by the U.S. Bureau of Economic Analysis. This marks

BofA failed to have a supervisory system reasonably designed to detect and prevent potentially manipulative trading

From December 2015-present, Merrill and, since 2019, BofA, failed to have a supervisory system reasonably designed to detect and prevent potentially manipulative trading by the firm's customers.

Merrill/BofA/BAML did not have a supervisory system or written procedures in place that were sufficiently designed to detect potentially manipulative trading activities, such as wash trading and prearranged trading. The automated surveillance systems used by Merrill/BofA/BAML had narrow parameters that failed to capture all forms of