SEC Announces Charges, Releases Updates on Key Priorities
SEC Charges Equiniti Trust Co. for Failing to Protect Client Funds
In a recent press release, the Securities and Exchange Commission (SEC) announced charges against Equiniti Trust Co., a transfer agent. The SEC alleges that Equiniti failed to implement adequate safeguards to protect client funds, resulting in multiple instances of unauthorized withdrawals.
Regulatory Actions Against 26 Firms
The SEC also announced charges against 26 broker-dealers and investment advisors for various violations. These violations include failing to maintain proper books and records, engaging in unauthorized trading, and providing false or misleading information to clients.
Continued Focus on Cybersecurity in 2024
The SEC emphasized that cybersecurity remains a top priority in 2024. The agency is actively engaged in rulemaking to enhance the cybersecurity resilience of financial institutions and protect investors from cyber threats.
Proposal for Rule Changes to Stamp Out Insider Trading
The SEC recently proposed two rule changes aimed at combatting insider trading. These rules would expand the definition of "inside information" and require certain disclosures by corporate insiders.
Recent SEC Press Releases
- SEC Charges Equiniti Trust Co With Failing to Protect Client Funds (February 15, 2023) https://www.sec.gov/news/press-release/2023-26
- SEC Announces Enforcement Actions Against 26 Broker-Dealers and Investment Advisers (February 13, 2023) https://www.sec.gov/news/press-release/2023-22
- SEC Proposes Rule Changes to Combat Insider Trading (January 18, 2023) https://www.sec.gov/news/press-release/2023-11
Comments