Investor Protections

In remarks at FINRA’s annual conference, Securities and Exchange Commission chair Gary Gensler spoke on the agency’s work collaborating with commodities regulators to rein in cryptocurrency trading.

His remarks amplified earlier calls to regulate crypto-trading following a significant drop in the market which cost crypto-investors billions.

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In a recent speech, the chair of the Securities and Exchange Commission (SEC), Gary Gensler, doubled down on the commission’s plans to require regulated companies to report climate-change related activities.

This move triggered indignation from Republican officials on the commission and in Congress.

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Senators Kirsten Gillibrand (D-N.Y.) and Cynthia Lummis (R-Wyo.) are developing bipartisan legislation designed to establish a regulatory framework for the crypto industry. The senators are trying to address safety and consumer protection concerns while providing stability and oversight to the digital asset markets.

Treasury Secretary Janet Yellen has also spoken publicly for the first time about the role Treasury will take in the future crypto regulatory framework; and SEC Chair Gary Gensler continues his efforts to expand investor protections in the crypto markets.

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A recent report from the International Organization of Securities Commissions (IOSCO) examined the risks, benefits, and realities of the fast-growing decentralized finance (DeFi) industry. The report looked into each layer of a DeFi structure to develop a comprehensive understanding of the decentralized nature of these systems.

IOSCO found the distributed ledger technology may not be as decentralized as the name suggests.

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The Securities and Exchange Commission (SEC) announced new rules for regulated public companies regarding disclosures relating to climate change and climate-related risks. These proposed disclosure requirements would have to include both climate-related risk management as well as specifics about greenhouse gas emissions from the registrant-company’s activities.

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In a complaint filed in the Federal District Court of Delaware, investors asserted mortgage lending company LoanDepot’s stocks decrease of over 40 percent following its IPO was reflective of real value. The complaint further states that the IPO was artificially inflated due to materially false or misleading information released by LoanDepot, its board of directors, and founder.

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The Securities and Exchange Commission (SEC) proposed a rule amendment that would increase requirements of companies when disclosing information about cybersecurity risks and responses to those risks.

The proposed amendment would require, among other things, current reporting about cybersecurity incidents and periodic reporting of updates about previously reported cybersecurity incidents.  

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MoneyGram International said that it has set aside approximately $16 million to pay potential settlements with the New York Department of Financial Services (NYDFS) and the Consumer Financial Protection Bureau (CFPB).

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In one of its first settlements between federal regulators and a Blockchain provider, the Securities and Exchange Commission (SEC) recently reached a $24 million settlement with Block.one over allegations that the company conducted an unregistered initial coin offering (ICO), which raised the equivalent of several billion dollars in digital assets in about a year. 

The settlement shines a light on the question as to whether digital assets should be treated as securities, rather than currency.

Learn more about the nuances involved in this matter.

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More than a year after a federal court vacated the Department of Labor’s fiduciary rule, the Securities and Exchange Commission finalized its own set of standards requiring investment advisors to act in their clients’ best interests.

The agency recently approved a package of rulemakings with the goal of enhancing the quality and transparency of relationships retail investors enter into with investment advisers and broker-dealers. 

Find out how the new rules differ from those proposed by DOL. 

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