Week of  April 6 - 12, 2026

🗓️ April 6, 2026

• SEC Charges Former Investment Adviser for Allegedly Misappropriating Securities From His Clients. The Securities and Exchange Commission charged Jeffrey Higgins with allegedly misappropriating over $800,000 worth of securities from twelve clients through a sham investment program between September 2017 and February 2024. Higgins is accused of falsely claiming to purchase discounted securities and using client funds to buy them at full price, diverting some to his personal account with falsified documents. The SEC seeks permanent injunctions, disgorgement with interest, and civil penalties, with the investigation led by Duncan C. Simpson LaGoy and litigation by Mr. Simpson LaGoy and Jason M. Bussey. 🔗 Read more
  

🗓️ April 7, 2026

• SEC Announces Enforcement Results for Fiscal Year 2025. Washington D.C. - During fiscal year 2025, the SEC filed 456 enforcement actions, including 303 standalone actions and 69 follow-on administrative proceedings, securing orders for monetary relief totaling $17.9 billion. The enforcement focused on cases that directly harm investors and market integrity, such as fraud, market manipulation, insider trading, and fiduciary breaches. This marks a shift from the prior Commission's emphasis on volume and penalties without direct investor harm, refocusing on fraud cases that need more resources and time. The SEC returned approximately $262 million to harmed investors and awarded $60 million to 48 whistleblowers. The Commission also received a record 53,753 tips, complaints, and referrals, reflecting a 19% increase from the previous year. 🔗 Read more
• Agencies Issue Final Rule to Prohibit Use of Reputation Risk by Regulators. WASHINGTON - The Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation have issued a final rule eliminating reputation risk from their supervisory programs. The rule prohibits these agencies from criticizing or taking adverse action against institutions based on reputation risk and from requiring actions based on political, social, cultural, or religious views, constitutionally protected speech, or lawful business activities perceived as reputation risks. It addresses concerns from Executive Order 14331 about reputation risk being used to restrict access to financial services for law-abiding individuals and businesses. 🔗 Read more
• Agencies Request Comment on Anti-Money Laundering/Countering the Financing of Terrorism Proposed Rule. WASHINGTON - The Federal Deposit Insurance Corporation (FDIC), Office of the Comptroller of the Currency (OCC), and the National Credit Union Administration (NCUA) are inviting public comment on a proposed rule to amend their AML/CFT program requirements for supervised institutions. The amendments aim to align with changes proposed by FinCEN and reflect the broader revisions to the BSA as directed by the Anti-Money Laundering Act of 2020, focusing on risk-based approaches, maintaining established programs, and enhancing FinCEN’s role in supervision and enforcement. 🔗 Read more
• FDIC Approves Proposal to Implement GENIUS Act Requirements and Standards. WASHINGTON - The Federal Deposit Insurance Corporation (FDIC) Board of Directors approved a notice of proposed rulemaking to implement requirements under the GENIUS Act, establishing a prudential framework for FDIC-supervised stablecoin issuers. The rule includes standards for reserve assets, redemption, capital, and risk management, and addresses pass-through insurance and tokenized deposits. Comments will be accepted for 60 days after publication, marking the FDIC’s second rulemaking under the GENIUS Act, following a previous rule on December 19, 2025. 🔗 Read more
• EIOPA publishes technical specifications for small and non-complex insurance undertakings and groups. The European Insurance and Occupational Pensions Authority (EIOPA) has published technical specifications for Small and Non-Complex Undertakings (SNCUs) and Groups (SNCGs) to support the implementation of a new simplified framework under the revised Solvency II Directive. This framework introduces a proportionality principle, allowing for a more tailored application of requirements based on the nature, scale, and complexity of risks, thereby reducing regulatory burdens while maintaining effective risk management. The document aims to ensure consistent implementation and supervision across Member States, promoting market diversity and efficient resource allocation. 🔗 Read more
• Gerry Cross appointed as next Secretary General of the International Association of Insurance Supervisors. The International Association of Insurance Supervisors (IAIS) has appointed Gerry Cross as its next Secretary General, effective 15 June 2026, bringing nearly 30 years of experience in financial services and regulation. Gerry will lead the IAIS Secretariat and support the Executive Committee in advancing strategic priorities for effective global insurance supervision, succeeding Jonathan Dixon, who will remain as Special Advisor until August 2026. Gerry’s extensive experience includes roles at the Central Bank of Ireland and various international financial regulatory bodies, and he has previously served on the IAIS Executive Committee. 🔗 Read more‍
  

🗓️ April 8, 2026

• Federal Reserve Board invites public comment on proposal that would allow U.S. banks and credit unions to use intermediaries to transfer funds through the FedNow Service. The Federal Reserve Board has invited public comment on a proposal to allow U.S. banks and credit unions to use intermediaries for fund transfers through the FedNow Service. This change would enable new private sector applications, such as allowing U.S. banks to use FedNow for cross-border payments with correspondent banks, beyond the current limitation of involving only two U.S. banks. 🔗 Read more
• SEC Appoints David Woodcock as Director of the Division of Enforcement. Washington D.C. - The Securities and Exchange Commission announced that David Woodcock will be appointed Director of the Division of Enforcement, effective May 4, 2026, while Sam Waldon will serve as Acting Director until then. Woodcock, a partner at Gibson, Dunn & Crutcher LLP, returns to the SEC with extensive experience, having previously served as Director of the Fort Worth Regional Office and led various enforcement initiatives. SEC Chairman Paul S. Atkins expressed confidence in Woodcock’s leadership, emphasizing his expertise in securities law and commitment to investor protection. 🔗 Read more
• SEC Charges Founder and CEO of Minnesota Company in Alleged Fraud Scheme. The Securities and Exchange Commission filed charges against Mark D. Anderson, founder and CEO of Drake’s Organic Spirits, Inc., and two entities he owned, BBFY USA, Inc. and Captain Drake, LLC, for orchestrating sham sales transactions and conducting offering fraud using false financial statements to solicit investors. The SEC alleges that Anderson directed sham sales totaling approximately $2.9 million in 2021 and 2022, using these to raise over $2.4 million from investors, and charges him with violating antifraud provisions, seeking permanent injunctions and civil penalties. The investigation was conducted by the SEC’s Denver Regional Office, and litigation will be led by Zachary Carlyle. 🔗 Read more
• SEC Charges Firm, Its Principal, and Its Escrow Attorney for Allegedly Defrauding Investors Through a Purported High-Yield Investment Program. The Securities and Exchange Commission filed charges against Michael Peter Gianoplus, Gianoplus Consortia LLC, and Traci Leigh Bransford-Marquis for allegedly defrauding investors in a high-yield investment program that raised over $6 million. The program promised access to exclusive overseas trading platforms with extraordinary profits, but the defendants misappropriated more than $2.4 million in principal funds despite the program not generating any profits. The SEC’s complaint, filed in the U.S. District Court for the Middle District of Florida, charges the defendants with violating multiple securities laws. 🔗 Read more‍
  

🗓️ April 9, 2026

• Federal Reserve Board announces termination of enforcement actions with Crédit Agricole S.A. and Crédit Agricole Corporate and Investment Bank, Mega International Commercial Bank Co., Ltd, and the Goldman Sachs Group, Inc. The Federal Reserve Board announced the termination of enforcement actions against Crédit Agricole S.A., Crédit Agricole Corporate and Investment Bank, Mega International Commercial Bank Co., Ltd., and The Goldman Sachs Group, Inc., with all orders dated between 2015 and 2018 set to terminate on March 25, 2026. 🔗 Read more
• SEC Charges Florida Investment Adviser for Allegedly Defrauding Investors and a Private Fund Client. The Securities and Exchange Commission filed charges against Kyle James Asman and Backswing Ventures GP LLC for allegedly defrauding a private fund client by paying excessive management fees and misleading investors through misrepresentations. The complaint states that Asman and Backswing Ventures GP paid themselves over $515,000 in management fees, violating fund documents, and failed to provide required audited financial statements, among other deceptive acts. The charges were filed in the U.S. District Court for the Middle District of Florida, and the SEC’s investigation was led by Gary Zinkgraf, with litigation to be handled by Patrick Costello. 🔗 Read more
• SEC Obtains Final Consent Judgment as to Former Stockbroker Alleged to Have Participated in a Fraudulent Penny Stock Pump and Dump Scheme. The United States District Court for the District of Massachusetts entered a final consent judgment against Geoffrey Allen Wall in the SEC’s civil enforcement action. The SEC alleged that Wall and his codefendants engaged in a fraudulent penny stock scheme from 2012 to 2016, resulting in millions of dollars in illicit profits. Wall consented to a judgment that permanently enjoins him from certain securities activities and orders him to pay $3,187,277 in disgorgement plus $1,081,662 in prejudgment interest. 🔗 Read more
• CFTC Seeks to Enjoin Arizona Criminal and Civil Enforcement Against Prediction Markets. WASHINGTON - The Commodity Futures Trading Commission (CFTC) filed a motion in the U.S. District Court for the District of Arizona seeking a preliminary injunction to stop Arizona from applying state criminal and gambling laws to CFTC-regulated prediction markets. This action follows a lawsuit filed with the Department of Justice challenging Arizona’s conduct, as the CFTC asserts its exclusive authority over prediction markets under the Commodity Exchange Act. The CFTC has also filed complaints against Connecticut and Illinois, aiming to prevent these states from enforcing preempted state laws against its registrants. 🔗 Read more
• The EBA consults on revised Guidelines on limits on exposures to shadow banking entities under the Capital Requirements Regulation. The European Banking Authority (EBA) has launched a public consultation on revised Guidelines for limits on exposures to shadow banking entities, aiming to align with the updated EU large-exposure reporting framework effective January 2024. The consultation seeks feedback on implementation impacts, current practices, and the effects of quantitative limits on lending, with input supporting policy decisions and broader work on shadow banking entities, including reports due in December 2027. Key changes include moving from eligible capital to Tier 1 capital for setting limits and removing the 0.25% materiality threshold. 🔗 Read more
• The EBA publishes list of known data point model issues to enhance transparency and support reporting institutions. The European Banking Authority (EBA) announced it will regularly publish a list of known issues related to the data point model (DPM) framework, including workarounds and resolution timelines, to enhance transparency and support reporting institutions. This initiative is part of the EBA’s efforts to simplify reporting requirements and reduce operational burden while maintaining data quality and supervisory objectives. Initially, the list will focus on issues affecting Pillar 3 disclosures and resolution planning reporting, with plans to expand to other modules over time. 🔗 Read more
• EIOPA and ESM staff propose mechanism to better manage fallout from outsized natural catastrophes. The European Insurance and Occupational Pensions Authority (EIOPA) and the European Stability Mechanism (ESM) have published a discussion paper on natural catastrophe risk management, proposing a European risk-sharing mechanism to address the significant protection gap left by uninsured economic losses from extreme weather events. The mechanism includes a risk-based premium-financed natural catastrophe insurance pool and a loan-based backstop for extreme events, aiming to diversify risks, expand coverage, and keep premiums affordable while maintaining fiscal neutrality and reducing reliance on public support. This framework seeks to enhance Europe’s resilience against natural disasters by combining strong private markets, a diversified European pool, and a robust financial backstop. 🔗 Read more‍
  

🗓️ April 10, 2026

• Federal Reserve Board announces approval of application by Burke & Herbert Financial Services Corp. The Federal Reserve Board approved Burke & Herbert Financial Services Corp.’s application to merge with LINKBANCORP, Inc., indirectly acquiring LINKBANK. Additionally, the Board approved Burke & Herbert Bank and Trust Company’s merger with LINKBANK and the establishment of branches at LINKBANK’s locations. 🔗 Read more
• SEC Obtains Final Consent Judgment as to Defendant Charged with Fraud and Acting as an Unregistered Broker. The U.S. District Court for the Northern District of Ohio entered a final judgment by consent against Christopher Joseph Bongiorno in connection with the SEC’s civil enforcement action, following his guilty plea to conspiracy to commit securities fraud in a parallel criminal action. The judgment permanently enjoins Bongiorno from violating certain securities laws and soliciting securities for five years, and orders him to pay disgorgement of $2,370,987.43 plus prejudgment interest of $551,924.45, offset by a restitution order of $929,729.38 from the criminal action. This judgment concludes the SEC’s litigation against Bongiorno, after previously obtaining summary judgment against him and a final judgment against his codefendant, Jason Allan Arthur. 🔗 Read more
• Temporary Restraining Order Blocks Arizona Criminal Enforcement Proceedings on Prediction Markets. WASHINGTON - At the request of the Commodity Futures Trading Commission, the United States District Court for the District of Arizona granted a temporary restraining order barring Arizona from pursuing criminal charges against CFTC-regulated designated contract markets. This decision follows the CFTC’s complaint against Arizona, seeking to prevent the state from preempting federal law, with CFTC Chairman Michael S. Selig emphasizing the importance of preserving the status quo and rejecting intimidation tactics. The CFTC has also filed similar complaints against Connecticut and Illinois, asserting its exclusive authority to regulate event contracts. 🔗 Read more
• CFTC Announces Innovation Task Force Staff. WASHINGTON - The Commodity Futures Trading Commission announced the members of the Innovation Task Force (ITF), led by Michael J. Passalacqua, which will collaborate with the Commission to create a regulatory framework for crypto assets, blockchain technologies, artificial intelligence, autonomous systems, prediction markets, and event contracts. The ITF includes staff from various CFTC divisions and individuals with private sector experience, such as Hank Balaban, Sam Canavos, Mark Fajfar, Eugene Gonzalez IV, and Dina Moussa, each bringing expertise in law and innovative technologies. Chairman Michael S. Selig emphasized the team’s commitment to providing clear rules for American innovators. 🔗 Read more
• CFTC Announces Agricultural Advisory Committee Members. WASHINGTON - The Commodity Futures Trading Commission announced the members of the Agricultural Advisory Committee, re-launched to ensure agricultural growers and producers have a voice in the agency’s decisions. Chairman Michael S. Selig, who sponsored the committee, nominated Emma Johnston as the designated federal officer. The AAC will provide vital information to promote sound policy affecting millions of farmers and ranchers, ensuring CFTC regulations adapt to market and consumer needs. 🔗 Read more
• The EBA publishes Decision harmonising reporting of SEPA data by national authorities. The European Banking Authority (EBA) has published a Decision to harmonize how National Competent Authorities (NCAs) report under the SEPA Regulation, streamlining the process from NCAs to the EBA and the European Commission. By introducing a single reporting channel through the EBA, the Decision reduces administrative burdens and ensures consistent, high-quality data, supporting the Commission in monitoring consumer access to instant credit transfers. The Decision takes effect immediately and requires NCAs to report information only to the EBA, which will then make it available to the European Commission. 🔗 Read more
• The EBA consults on major simplification of supervisory reporting to deliver a simpler, smarter and more proportionate framework. The European Banking Authority (EBA) is introducing measures to simplify EU supervisory reporting, aiming to reduce the reporting burden for EU banks while maintaining the necessary information for supervisory authorities. The proposals include aligning reporting requirements with supervisory needs, reducing data points by around 50%, integrating separate data collections, and fostering transparency through an EU-wide public repository. These changes, which will apply from September 2027, are part of the EBA’s efforts towards integrated prudential and statistical reporting, supported by modern data modelling solutions. 🔗 Read more
• ESMA publishes latest edition of its newsletter. The European Securities and Markets Authority (ESMA) has released its latest Spotlight on Markets newsletter, focusing on simplifying the retail investor journey and making investing more accessible. Key highlights include the first Trends, Risks and Vulnerabilities (TRV) report of 2026, which indicates a high-risk environment for EU financial markets, and analysis showing that new investment funds are reducing costs for investors. The edition also features key publications such as annual transparency calculations, a joint consultation on revised suitability assessment requirements, ESMA’s proposals to simplify MiFID II/MiFIR obligations, and a statement supporting the implementation of the Listing Act. 🔗 Read more