Week of  April 27 - May 3, 2026

🗓️ April 27, 2026

• SEC Obtains Final Consent Judgment as to Investment Adviser for Allegedly Operating a Ponzi-like Offering Fraud. The United States District Court for the Southern District of New York entered a final consent judgment against Terrence Chalk, a convicted felon who operated a Ponzi-like offering fraud under the alias “Dr. Terrence Cash.” Between 2017 and 2020, Chalk fraudulently raised approximately $5 million from about 40 investors by selling securities in a fictitious fund, using most of the money for personal expenses and Ponzi-like payments. The judgment enjoins Chalk from future violations and orders him to disgorge $1,731,423 and pay prejudgment interest of $13,078.64, with these amounts satisfied by a restitution order. 🔗 Read more
• Survey on the Access to Finance of Enterprises: lending conditions tightened. Firms in the euro area reported a net tightening of bank loan interest rates and other loan conditions, with a slight deterioration in the availability of bank loans despite stable financing needs. Short-term inflation expectations increased significantly, while medium-term expectations remained stable, with firms anticipating stronger increases in selling prices and non-labour input costs. The survey, conducted between 19 February and 1 April 2026, included 10,544 firms, highlighting a general economic outlook as the main constraint on external financing availability. 🔗 Read more
  

🗓️ April 28, 2026

• SEC Files Settled Action Against Financial Technology Company and its Founders for Alleged Fraudulent Disclosures. The Securities and Exchange Commission filed a settled action against RYVYL, Inc., and its founders, Fredi Nisan and Benzion Errez, for allegedly making false disclosures in public filings by misrepresenting RYVYL as a blockchain-based financial technology company. Without admitting or denying the allegations, they consented to final judgments that would enjoin them from future violations and impose civil penalties, with Nisan and Errez also being prohibited from serving as officers or directors of a public company for five years. The SEC’s investigation was led by Marc J. Blau and Donald W. Searles, under Stephen Kam’s supervision. 🔗 Read more
• CFTC Transitions Its Public Comment Submission Process to Regulations.gov. Washington - The Commodity Futures Trading Commission (CFTC) has transitioned its public comment submission process to Regulations.gov, effective immediately for all new rulemaking proposals and comment requests. This move leverages the General Services Administration’s eRulemaking Program to enhance transparency and efficiency, aligning with key administration priorities to eliminate bureaucratic duplication and inefficiency. The former CFTC comment system will remain available for submissions on proposals and comment requests opened before April 28. 🔗 Read more
• CFTC Sues Wisconsin to Reaffirm its Exclusive Jurisdiction Over Prediction Markets. Washington - The Commodity Futures Trading Commission (CFTC) has filed a lawsuit against Wisconsin following the state’s lawsuits against five CFTC-regulated prediction markets, including Kalshi and Coinbase, for alleged felony violations of state law. This action is part of a broader effort by the CFTC to assert its exclusive jurisdiction over derivative products, as assigned by Congress, and to counter state attempts to regulate prediction markets through gambling laws. The CFTC has also taken legal action against other states like New York and Arizona, emphasizing that states cannot interfere with federal financial market regulations. 🔗 Read more
• The EBA updates list of correlated currencies. The European Banking Authority (EBA) published today the 2026 update of the list of closely correlated currencies, which is used for the calculation of capital requirements for foreign exchange risk under the standardised approach. The update has been carried out in line with the methodology and procedure set out in the applicable Implementing Technical Standards (ITS). The revised list has been submitted to the European Commission for endorsement. 🔗 Read more
  

🗓️ April 29, 2026

• Federal Reserve issues FOMC statement. Recent indicators show that economic activity is expanding steadily, with low job gains and an unchanged unemployment rate, while inflation remains elevated due to global energy price increases. The Committee aims for maximum employment and a 2 percent inflation rate, maintaining the federal funds rate target range at 3‑1/2 to 3‑3/4 percent, and is prepared to adjust monetary policy based on incoming data and risks. The decision was supported by most members, except Stephen I. Miran, who wanted a rate cut, and Beth M. Hammack, Neel Kashkari, and Lorie K. Logan, who opposed the easing bias in the statement. 🔗 Read more
• SEC Files Settled Charges Against Former CEO for Misappropriating Corporate Assets. The Securities and Exchange Commission filed a settled action against Anthony J. Cataldo, former Chairman and CEO of a clinical-stage biopharmaceutical company, for allegedly misappropriating approximately $3.2 million and engaging in deceptive acts to conceal his misconduct. Cataldo made unauthorized transfers from the Company’s bank account to his personal account and used nearly $2.6 million for a home purchase, while making false statements to auditors and investors. Without admitting or denying the allegations, Cataldo consented to a proposed final judgment, agreeing to a permanent injunction, a three-year officer and director bar, and a $30,000 civil penalty. 🔗 Read more
• SEC Obtains Final Consent Judgment as to Florida Attorney Charged with Aiding and Abetting Offering Fraud. The U.S. District Court for the Northern District of Georgia entered a final consent judgment against Alvin Christopher Jones, whom the SEC charged with aiding and abetting an offering fraud involving a fraudulent prime bank and gold and diamond investment scheme. Jones, a licensed attorney, allegedly served as a “paymaster” for the scheme, receiving and disbursing investor funds despite numerous complaints of fraud. Without admitting or denying the allegations, Jones consented to a judgment that permanently enjoins him from certain securities violations and orders him to pay disgorgement of $9,112.52, prejudgment interest of $2,350.25, and a civil penalty of $15,000. 🔗 Read more
• SEC Files Settled Insider Trading Action Against Texas CPA and Former Internal Audit Head of Public Company. The Securities and Exchange Commission filed a settled action against Jai Sondhi, a licensed CPA and former Senior Director of Internal Audit and Controls at Canoo, Inc., for allegedly engaging in insider trading. Sondhi purchased Canoo stock and call options in June and July 2022, aware of a major contract with a retailer, which led to a 53% stock price increase upon announcement, resulting in $54,965.23 in gains. Without admitting or denying the allegations, Sondhi agreed to a final judgment, including disgorgement, interest, and a civil penalty, while being permanently enjoined from future violations. 🔗 Read more
• CFTC Announces Director of the Whistleblower Office. Washington - The Commodity Futures Trading Commission announced Raagnee Beri as the director of the Whistleblower Office. Beri, with extensive experience at the CFTC and the Department of Justice, is expected to lead the office effectively, leveraging her background in enforcement, whistleblower appeal litigation, and Commodity Exchange Act expertise. Chairman Michael S. Selig and General Counsel Tyler Badgley expressed confidence in her ability to support the Commission’s enforcement program. 🔗 Read more
• The EBA publishes its final Guidelines on supervisory independence. The European Banking Authority (EBA) has published its final Guidelines on Supervisory Independence under the Capital Requirements Directive (CRD), which clarify arrangements to prevent and manage conflicts of interest involving staff and governance body members. These Guidelines introduce new requirements to strengthen the framework for managing risks to supervisory independence, including standards for declarations of interest, limitations on trading financial instruments, and cooling-off restrictions. Additionally, they address the appointment and tenure of governance body members to ensure transparency and safeguard trust in competent authorities. 🔗 Read more
• The EBA streamlines its Guidelines on connected clients to align with new EU legislation. The European Banking Authority (EBA) has partially deleted sections of its Guidelines on connected clients due to new EU legislation, Commission Delegated Regulation (EU) 2024/1728, which introduces binding regulatory technical standards. These changes aim to maintain clarity, consistency, and alignment in the framework used by credit institutions to identify connected clients. The updated Guidelines, reflecting these deletions, are available on the EBA’s website. 🔗 Read more
• ESMA consults on guidelines on endorsement under the ESG Ratings Regulation. The European Securities and Markets Authority (ESMA) has initiated a public consultation on draft guidelines for endorsing non-EU ESG ratings under the ESG Ratings Regulation. The consultation aims to gather feedback from ESG rating providers and stakeholders to ensure the guidelines are clear, proportionate, and practical, while aligning with the regulation’s objectives. The guidelines will provide guidance on the information required for an ESG Rating Provider’s application to endorse ESG ratings. 🔗 Read more

🗓️ April 30, 2026

• Deputy Director of Enforcement Jason Burt to Conclude His Tenure at the SEC. Washington D.C. - The Securities and Exchange Commission announced that Jason Burt, Deputy Director of the Division of Enforcement (Specialized Units), will leave the agency on May 1, 2026, after over 22 years of service. During his career, Mr. Burt held various roles, including Regional Director of the Denver Regional Office and Associate Director in the Division of Enforcement, and was involved in complex investigations and litigations across multiple units. He expressed gratitude for his experiences and the opportunity to work with talented staff, while SEC Acting Director Sam Waldon praised his leadership and commitment to the agency’s mission. 🔗 Read more
• SEC Obtains Final Consent Judgment as to Texas Executive and His Entities Charged in Alleged Fraudulent Offering. The U.S. District Court for the Southern District of Texas entered a final judgment by consent against Aaron Verdugo and his entities, BDX, for raising approximately $6.67 million from 200 investors through an unregistered securities offering with false and misleading statements. The SEC alleged that Verdugo misappropriated at least $6.1 million of investor funds and failed to honor promised returns and refunds, leading to a judgment that enjoins him from securities activities for five years and orders disgorgement and a civil penalty. The investigation was conducted by the SEC’s Fort Worth Regional Office, and investors are advised to contact the SEC for more information. 🔗 Read more
• SEC Obtains Final Consent Judgments as to Christopher Flagg, Daquan Lloyd, and Travis Treusch in Connection with Alleged “Free-Riding” Scheme. The United States District Court for the Eastern District of New York entered final consent judgments against Christopher Flagg, Daquan Lloyd, and Travis Treusch for their involvement in a $2 million “free-riding” scheme. The SEC’s complaints alleged that the defendants used unfunded brokerage accounts to generate trading profits in other accounts, transferring broker credits to accumulate guaranteed profits. The final judgments imposed disgorgement and prejudgment interest payments, which were satisfied by restitution orders in parallel criminal actions, and maintained conduct-based injunctions for varying periods. 🔗 Read more
• CFTC Seeks Public Comment Relating to Commitments of Traders Reports. Washington - The Commodity Futures Trading Commission has issued a Request for Comment on potential modifications to its Commitments of Traders Reports (COT Reports) program, including more frequent publication and content changes. This request follows significant outreach with the agricultural community and commercial end users, and public comments are invited within 30 days of the Federal Register publication. The last request for comment on the COT Reports program was issued in 2006. 🔗 Read more
• EIOPA’s risk dashboard for occupational pension funds flags market concerns as geopolitical tensions persist. The European Insurance and Occupational Pensions Authority (EIOPA) released its 2026 April risk dashboard, highlighting that elevated geopolitical tensions and uncertainty continue to shape the risk landscape for European IORPs, with market risks being a key concern. Despite these challenges, Europe’s IORP sector remains resilient, with the financial position of Defined Benefit (DB) IORPs strengthened by strong investment returns, higher equity prices, and rising long-term interest rates. 🔗 Read more
• EIOPA's insurance risk dashboard shows overall stability, with geopolitical uncertainty shaping the future outlook. The European Insurance and Occupational Pensions Authority (EIOPA) published its April 2026 Insurance Risk Dashboard, indicating that risks in the European insurance sector are stable at a medium level. Key findings include stable credit risks, increased market risk due to volatility, and stable liquidity and funding conditions. Solvency and profitability risks are also medium, with strong premium growth and stable underwriting performance, though uncertainties persist around marine, aviation, and trade-related claims, as well as digitalisation and cyber threats. 🔗 Read more
• ESMA launches a call for evidence on the structure of European equity markets. The European Securities and Markets Authority (ESMA) has issued a call for evidence on the evolution of trading in European equity markets from 2022 to 2025, using MiFIR transaction data. The analysis indicates stable addressable liquidity and on-book trading, while lit continuous trading has declined, compensated by increased activity in closing auctions, frequent batch auctions, and systematic internaliser trading. ESMA also seeks feedback on liquidity allocation across trading mechanisms and the concept of addressable liquidity under RTS 1, and informs stakeholders about the repeal of a Q&A regarding periodic auctions and the tick-size regime. 🔗 Read more
  

🗓️ May 1, 2026

• Agencies issue host state loan-to-deposit ratios. Federal bank regulatory agencies have issued updated host state loan-to-deposit ratios, replacing those from May 2025, as required by law. These ratios compare total loans to total deposits for all banks operating in a state. By law, banks are generally prohibited from establishing or acquiring branches outside their home state primarily to acquire additional deposits, ensuring they meet the credit needs of the community. 🔗 Read more
• CFTC Secures Judgment Against Michigan Commodity Pool Operator and His Company Engaged in Fraud Scheme. Washington - The Commodity Futures Trading Commission announced a consent order against Andrew Middlebrooks and his firm, EIA All Weather Alpha Fund I Partners LLC, for operating a fraudulent commodity pool from mid-2017 through April 2022. The defendants made false statements about the pool’s profitability and financial statements, leading to millions of dollars being pooled from participants. The order permanently bans them from trading and soliciting funds, and in a related criminal case, Middlebrooks was sentenced to eight years and four months in prison and ordered to pay $34,346,948 in restitution. 🔗 Read more
• CFTC Staff Issues Supplemental Letter Regarding No-Action Position on Reporting, Recordkeeping Requirements. Washington - The Commodity Futures Trading Commission’s Division of Market Oversight and Division of Clearing and Risk have announced a no-action position regarding swap data reporting and recordkeeping regulations for Gemini Titan, LLC, and Gemini Olympus, LLC. They will not recommend enforcement action against these entities or their participants for non-compliance with certain swap-related recordkeeping and reporting requirements. This decision follows a request from Titan and Olympus to extend CFTC Letter No. 25-44 to cover transactions cleared through Olympus. 🔗 Read more
• Anchor Bank Assumes Insured Deposits of Community Bank and Trust - West Georgia, LaGrange, Georgia. Washington - Community Bank and Trust - West Georgia was closed by the Georgia Department of Banking and Finance, with the FDIC appointed as receiver and Anchor Bank of Palm Beach Gardens, Florida, assuming its insured deposits and certain assets. The bank’s branches will reopen as Anchor Bank branches on May 4, 2026, and depositors will automatically become Anchor Bank depositors, with their deposits remaining FDIC insured. The FDIC estimates the failure will cost its Deposit Insurance Fund approximately $97 million, and customers with accounts over $250,000 are advised to contact the FDIC for further assistance. 🔗 Read more
• Small Business Lending under the Equal Credit Opportunity Act (Regulation B). The Consumer Financial Protection Bureau is revising Regulation B, subpart B, to implement changes to the Equal Credit Opportunity Act as per section 1071 of the Dodd-Frank Act. The amendments include changes to the coverage of credit transactions and financial institutions, the small business definition, data points inclusion, and the compliance date. These changes aim to streamline the rule, reduce complexity for lenders, improve data quality, and advance the purposes of section 1071.  🔗 Read more