Investor Protections

As part of a broader effort to better coordinate efforts meant to support lawful innovation and uphold market integrity, the Securities and Exchange Commission and the Commodity Futures Trading Commission entered into a memorandum of understanding, the agencies announced on March 11. Read on »

The complexity of the secondary mortgage market was the focal point of a hearing held by the House Financial Services Committee’s Housing and Insurance Subcommittee on Feb. 11. The hearing featured testimony on the current securitization framework and ideas for preserving liquidity, competition and access to the 30-year fixed-rate mortgage. Read on »

Legislation intended to establish a comprehensive regulatory framework for digital assets in the U.S. has hit several hurdles, ranging from a lack of bipartisan political support to disputes among bankers and crypto advocates. Multiple financial trade organizations met with President Donald Trump at the White House to discuss the matter. Read on »

The Securities and Exchange Commission has formed a task force to strengthen and enhance its efforts to identify and combat cross-border fraud harming U.S. investors, with an initial focus on investigating potential U.S. federal securities law violations related to foreign-based companies. Read on »

The real estate finance industry welcomed the news that U.S. Treasury Secretary Scott Bessent asked lawmakers to strike “retaliatory tax measures” from the congressional budget package. Dodd Frank Update spoke with an expert from the Commercial Real Estate Finance Council about the effect such a tax would have on real estate investments. Read on »

The Securities and Exchange Commission charged the former CEO of a real estate investment business with defrauding approximately 200 investors out of at least $46 million through an elaborate “Ponzi-like” scheme. In a parallel action the Department of Justice announced criminal charges in the matter. Read on »

Could you spot a fake ID? Many seasoned real estate professionals know skill is useful to more than club bouncers or police officers. Jaime Kosofsky, executive vice president of business development and compliance at Brady and Kosofsky, can attest to this fact, as he noted on a recent episode of the Keys to Real Estate podcast. Read on »

The Securities and Exchange Commission cited multiple failures in LPL Financial LLC’s anti-money laundering program in a cease-and-desist order calling for the investment advisor to pay an $18 million civil money penalty and to make documented improvements to its fraud mitigation policies and procedures. Read on »

The Securities and Exchange Commission levied $60 million in civil penalties against Wells Fargo and Merrill Lynch for alleged failures related to their cash sweep programs. Specifically, the agency claimed the firms did not follow federal laws requiring investment advisors to consider clients’ best interests. Read on »

The U.S. Treasury Department’s Financial Crimes Enforcement Network announced that reporting companies are not currently required to file beneficial ownership information in light of recent legal developments. This news follows a recent federal court decision in the case of Texas Top Cop Shop, Inc., et al. v. Garland, et al. Read on »