Topics covered in this issue include:
As the implementation of a new variation margin requirement regime approaches, work should be underway to ensure market participants are compliant.
Capital One Prevails in AML Suit
The board of Capital One escaped liability in a shareholder suit for failure to oversee an ineffective anti-money laundering program that attracted regulatory scrutiny and sanction. The case nonetheless serves as a lesson for boards to pay periodic attention to AML compliance issues rather than wholly relying on management.
SEC Releases FY2016 Enforcement Action Report
The SEC's review of its FY2016 investigations reveals a record total of enforcement actions covering a wide range of wrongdoings.
Broker-Dealer Agrees to $12.5M Penalty for Ineffective Trading Controls
The SEC levied the largest-ever penalty against a broker-dealer for a violation of the Market Access Rule.
A lawsuit accusing AXA funds of charging excessive fees was the first case to go to trial since the U.S. Supreme Court decided Jones v. Harris Associates in 2010.
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