Blog
Summaries and explanations of the latest regulatory compliance announcements, reports and related stories.
SEC Charges App Developers for Unregistered Security-Based Swap Transactions
Abra, a California-based trading app, and related firm Plutus Technologies Philippines Corp (“Plutus”), were charged by the Securities and Exchange Commission (SEC) on July 13, 2020. Abra and the related firm were charged for offering trades to non-registered investors and for failing to record all trades on a registered national exchange.
SEC Risk Alert – Investment Adviser Principal and Agency Cross Trading Compliance Issues
On September 4, 2019, the Office of Compliance Inspections and Examinations (“OCIE”) issued a Risk Alert related to principal trading and agency cross transactions under Section 206(3) of the Advisers Act. These topics were identified in recent examinations of investment advisers.