SEC: Enforcement

Biggest single-day crackdown on industry since 2018

Respondents did not undertake a process to determine whether the loans were in the best interests of the lending Funds

BAG’s compliance manual included P&Ps requiring that trade orders include instructions for how the shares in the block trade are to be allocated. However, Brander ...

Hudson and Lone Star Global failed to fully disclose Hudson’s practice for calculating and charging certain fees. Hudson charged $54.6 million in incremental and undisclosed ...

Enforcement deadline looms

"Regulation by enforcement fails to provide the nuanced and comprehensive guidance that allows market participants to tailor their practices, and instead requires regulated entities to ...

"Were we not to investigate and bring appropriate cases just as we always have simply to duck criticism or difficult questions, we’d be acting with ...

'Repeated mistakes' in management calculations cost adviser

Problems were 'first identified by staff of the Commission’s Division of Examinations' in September 2019 but the adviser failed to remediate in an adequate manner

The adviser did not engage an independent public accountant to conduct the requisite audit