The SEC’s Office of Investor Education and Advocacy and the Financial Industry Regulatory Authority (FINRA) are issuing this Investor Bulletin to inform investors about social sentiment investing tools and highlight their risks. This Bulletin provides tips to consider before using tools that analyze or aggregate information from social media sources to make investment decisions or […]
Monthly Archives: April 2019
New Accounting Standard on Credit Losses: Frequently Asked Questions
FIL-20-2019 April 3, 2019 New Accounting Standard on Credit Losses: Frequently Asked Questions Printable Format: FIL-20-2019 – PDF (PDF Help) Summary: The federal financial institution regulatory agencies (agencies) are issuing updated Frequently Asked Questions on the New Accounting Standard on Financial Instruments – Credit Losses to assist institutions and examiners. The new standard takes effect […]
New Accounting Standard on Credit Losses: Frequently Asked Questions
FIL-20-2019 April 3, 2019 New Accounting Standard on Credit Losses: Frequently Asked Questions Printable Format: FIL-20-2019 – PDF (PDF Help) Summary: The federal financial institution regulatory agencies (agencies) are issuing updated Frequently Asked Questions on the New Accounting Standard on Financial Instruments – Credit Losses to assist institutions and examiners. The new standard takes effect […]
Court Rules in FTC’s Favor Against Predatory Academic Publisher OMICS Group; Imposes $50.1 Million Judgment against Defendants That Made False Claims and Hid Publishing Fees
A federal judge has ordered journal publisher and conference organizer Srinubabu Gedela and his companies to pay more than $50.1 million to resolve Federal Trade Commission charges that they made deceptive claims to academics and researchers about the nature of their conferences and publications, and hid steep publication fees. “These publishing companies lied about their academic […]
UrthBox Settles FTC Charges Related to Compensated Online Reviews and “Free” Trial Offer
San Francisco-based UrthBox, Inc. and its principal, Behnam Behrouzi, have agreed to settle a Federal Trade Commission complaint alleging that the company misrepresented that customer reviews were independent when, in fact, it had provided those customers with free products and other incentives to post positive reviews online. The administrative order settling the FTC’s complaint, which […]
Keith Borge
On March 28, 2019, the Securities and Exchange Commission charged the former controller of a New York-based not-for-profit college with defrauding municipal securities investors by fraudulently concealing the college’s deteriorating finances. According to the SEC’s complaint, in recent years, the College of New Rochelle came under considerable financial stress because of declining student enrollment and […]
Robert P. DePalo, et al.
Litigation Release No. 24437 / April 2, 2019 Securities and Exchange Commission v. Robert P. DePalo, et al., No. 15-civ-3877 (S.D.N.Y. filed May 20, 2015) On February 5, 2019, the Securities and Exchange Commission obtained a final judgment against a New York-based broker who was charged with orchestrating a $6.5 million offering fraud. In May […]
Current Expected Credit Losses (CECL) Webinar:
FIL-17-2019 April 2, 2019 Current Expected Credit Losses (CECL) Webinar: Weighted-Average Remaining Maturity (WARM) Method Printable Format: FIL-17-2019 – PDF (PDF Help) Summary: The federal financial institution regulatory agencies will host an interagency webinar focusing on the application of the Weighted-Average Remaining Maturity (WARM) method for estimating allowances for credit losses in accordance with Accounting […]
Regulatory Capital Rule: Regulatory Capital Treatment for Investments in Certain Unsecured Debt Instruments of Global Systemically Important U.S. Bank Holding Companies, Certain Intermediate Holding Companies, and Global Systemically Important Foreign Banking Organizations
FIL-18-2019 April 2, 2019 Regulatory Capital Rule: Regulatory Capital Treatment for Investments in Certain Unsecured Debt Instruments of Global Systemically Important U.S. Bank Holding Companies, Certain Intermediate Holding Companies, and Global Systemically Important Foreign Banking Organizations Printable Format: FIL-18-2019 – PDF (PDF Help) Summary: The federal banking regulatory agencies (the agencies) have jointly issued a […]
Technology Service Provider Contracts
The attached document describes examiner observations about gaps in financial institutions’ contracts with technology service providers that may require financial institutions to take additional steps to manage their own business continuity and incident response. Statement of Applicability to Institutions under $1 Billion in Total Assets: This FIL applies to all FDIC-supervised institutions. Financial Institution Letters […]