Week of September 28 - October 4, 2026

🗓️ September 28, 2026

• SEC Charges Registered Investment Adviser Zoe Financial for Failure to Disclose Conflict of Interest. Washington D.C. - The Securities and Exchange Commission announced settled charges against Zoe Financial Inc. for failing to disclose conflicts of interest related to its referral service and Zoe Wealth. Zoe Financial agreed to a cease-and-desist order, a censure, and to pay a civil monetary penalty of $450,000, without admitting the SEC’s findings. The order also noted that Zoe Financial did not adequately disclose these conflicts until December 2024 and did not accurately describe how it mitigated certain conflicts. 🔗 Read more
• SEC Files Settled Action as to Georgia CPA Charged with Insider Trading. The Securities and Exchange Commission filed settled charges against Lloyd Anderson Wilson, a former corporate controller at Vital Farms, Inc., for allegedly insider trading based on confidential information. Between November 2021 and March 2023, Wilson purchased shares of Vital Farms on the day before earnings announcements, generating profits of more than $21,000. The SEC seeks an injunction, disgorgement of $21,524.97, prejudgment interest of $4,845.92, a civil penalty of $21,524.97, and a five-year bar from serving as a public-company officer or director. 🔗 Read more

🗓️ September 29, 2026

• Agencies publish resolution plan feedback letters for 15 banking organizations. The Federal Deposit Insurance Corporation and the Federal Reserve Board published feedback letters for resolution plans submitted in October 2025, finding no shortcomings or deficiencies. The agencies reviewed the 2025 plans from 15 banking organizations with over $250 billion in assets and noted that a previous shortcoming in the 2021 BNP Paribas plan has been satisfactorily addressed. 🔗 Read more
• SEC Charges Multiple Entities in Fraud Schemes Totaling at Least $15 Million That Used WhatsApp and Other Platforms to Lure Investors. Washington D.C. - The Securities and Exchange Commission charged Cryptoaiml Ltd., Cryptoaiml Capital Foundation, TSAI Pro Ltd., and TSAI Capital Foundation with defrauding hundreds of retail investors, including many in the U.S., through investment confidence scams, misappropriating over $12.5 million and $2.8 million, respectively. The schemes involved impersonating investment professionals, issuing fake AI-generated trading signals, and falsely claiming SEC compliance, with no genuine trading platforms or AI trading bots in place. The SEC warns investors to be cautious of scams involving group chats or false SEC registration claims and encourages checking backgrounds on Investor.gov. 🔗 Read more
• SEC Files Settled Action Against Start-Up Space Station Construction Company, Its CEO, and Its Former COO. The Securities and Exchange Commission filed settled charges against Above: Space Development Corporation, formerly Orbital Assembly Corporation, and its executives Timothy E. Alatorre and Rhonda D. Stevenson for allegedly misleading investors about their space station projects, intellectual property, and industry partnerships. Between January 2021 and March 2024, Orbital raised approximately $2.9 million from over 1,400 retail investors through five securities offerings, misrepresenting its ability to complete projects within four to six years despite lacking necessary resources. Alatorre and Stevenson consented to final judgments without admitting wrongdoing, with Alatorre ordered to pay a $50,000 civil penalty, while Stevenson’s penalty was contingent on her financial disclosure’s accuracy. 🔗 Read more
• SEC Charges New Jersey Resident as Additional Defendant in Alleged Insider Trading Scheme. The Securities and Exchange Commission filed an amended complaint naming Chris Farrant as an additional defendant in a previously filed insider trading case. Farrant allegedly traded securities based on material nonpublic information from his friend Stephen Teixeira, who obtained it from his then-partner’s laptop, and tipped the information to Jordan Meadow, who then traded and tipped Ronald Smith. The scheme generated illicit profits of approximately $28,600 for Teixeira, $25,860 for Farrant, more than $730,000 for Meadow, and more than $530,000 for Smith, with Meadow and Smith recommending profitable trades to customers who made millions. 🔗 Read more
• SEC Files Settled Action as to Maryland Resident for Alleged Insider Trading in Massachusetts-Based Biopharmaceutical Company. The Securities and Exchange Commission filed a settled insider trading action against Cheryl Kramer, who allegedly avoided losses by trading ahead of negative news from Sage Therapeutics, Inc. Kramer, who owed a duty of trust to a Sage insider, learned material non-public information about the FDA’s position on Sage’s drug application for major depressive disorder. She liquidated all her Sage shares before the company announced the FDA’s denial, avoiding losses of approximately $11,140. Kramer consented to a final judgment, agreeing to pay disgorgement of $11,139.60, prejudgment interest of $2,416.61, and a civil penalty of $11,139.60. 🔗 Read more

🗓️ September 30, 2026

• Federal Reserve Board finalizes changes to enhance the transparency and public accountability of its stress test and reduce volatility in its stress test-related capital requirements. The Federal Reserve Board finalized changes to enhance the transparency and public accountability of its stress test and reduce volatility in stress test-related capital requirements. The first rule requires annual public input on stress test scenarios and model changes, updates the stress test calendar, and introduces a new approach for testing banks with large trading books. The second rule mandates averaging the results from the two most recent stress tests for calculating stress capital buffer requirements, starting in 2028. 🔗 Read more
• SEC Charges Meyer Global Management and Its CEO With Defrauding Retail Investors in Private Funds That Held Interests in SpaceX and Other Pre-IPO Securities. Washington D.C. - The Securities and Exchange Commission charged Meyer Global Management LLC and its CEO, Owen E.H. Meyer, with defrauding investors and MGM-managed funds through schemes involving SpaceX and other pre-IPO securities. The defendants allegedly misused client funds for personal expenses, misappropriated investor proceeds, and failed to address a capital call deficiency, resulting in a $3,000,000 investment loss. The SEC seeks permanent injunctive relief, disgorgement of ill-gotten gains, and civil penalties, emphasizing the exploitation of retail investors by fraudsters. 🔗 Read more
• SEC Charges Two Individuals With Orchestrating Fraud Scheme That Targeted Veterans. Washington D.C. - The Securities and Exchange Commission announced charges against Christopher Kenji Dinelli and Jacob David “Kobe” Frankel for allegedly orchestrating a fraud scheme that raised more than $8.7 million from 35 investors through Beyond Alpha Ventures LLC and Beyond Equity LLC. Dinelli, a former naval officer, targeted veterans and medical service providers, falsely claiming their money would be invested in a fund with a successful options trading strategy and pre-IPO securities. Despite consistent losses, they reported returns of up to 153% and a large client base. The complaint alleges Dinelli misappropriated over $1 million and Frankel over $340,000, with the majority of investor funds lost due to failed trades. 🔗 Read more
• SEC Proposes Amendments to Expand Responsible Retailization of Private Markets. Washington D.C. - The Securities and Exchange Commission voted to propose rule amendments aimed at facilitating capital formation by expanding retail investor choice and promoting innovation in regulated fund structures while ensuring investor protections. The proposals include allowing registered investment advisers to receive performance-based compensation from regulated funds, modernizing the interval fund framework, and replacing exemptive orders with a rules-based framework for issuing multiple share classes. Additionally, the Commission is seeking public comment on allowing investors to qualify as accredited through professional certifications or passing an accredited investor exam developed by FINRA. 🔗 Read more
• SEC Charges Former Pharmaceutical Company Executive for Allegedly Insider Trading Ahead of Acquisition Announcement. The SEC filed charges against Mukesh Asudani, a former Senior Vice President of Human Resources at Pharma Company A, for allegedly insider trading before the October 11, 2021 announcement of Supernus Pharmaceuticals acquiring Adamas Pharmaceuticals. Asudani, who attended internal meetings remotely, liquidated his Pharma Company A stock and used the proceeds, along with cash from a brokerage account, to purchase Adamas shares, also using two other accounts to buy shares, resulting in approximately $78,751 in illicit profits after Adamas’s stock price surged by 75%. The SEC’s complaint, filed in the Southern District of New York, charges Asudani with violating securities laws and seeks various penalties, with the investigation led by Joshua R. Geller and Assunta Vivolo. 🔗 Read more
• SEC Settles Litigation with Former CEO and Vice President of Software Company Charged with Multimillion Dollar Fraud. The U.S. Securities and Exchange Commission filed consents and proposed final judgments against Robert Bernardi and Sunil Chandra in a civil enforcement action. Bernardi allegedly misrepresented GigaMedia Access Corporation’s financial condition to raise over $37 million and was ordered to disgorge $4,700,000 with interest, while Chandra was ordered to disgorge $50,000 with interest. Both amounts are deemed satisfied by restitution orders in a parallel criminal case. 🔗 Read more
• SEC Obtains Judgments Against Three BitConnect Promoters. The United States District Court for the Southern District of New York issued a final judgment against Michael Noble, ordering him to pay $1,074,984.36, including disgorgement, prejudgment interest, and a civil penalty, for his involvement with BitConnect. Craig Grant received a final default judgment on August 7, 2026, requiring him to pay $2,680,732.84, while Trevon Brown was ordered to pay $1,986,465.15 following a final judgment on consent on September 9, 2026. The SEC’s complaint, filed on May 28, 2021, accused Noble, Grant, and Brown of promoting BitConnect’s “lending program” without proper registration, with the litigation led by Todd D. Brody and supervised by Laura D’Allaird and Jack Kaufman. 🔗 Read more
• SEC Files Settled Action Against Travel + Leisure Co. in Connection with Alleged Misleading Disclosures Concerning Certain Performance Measures for its Timeshare Loan Portfolio. The Securities and Exchange Commission filed a settled action against Travel + Leisure Co. for making misstatements and misleading disclosures about two undisclosed projects affecting its timeshare loan portfolio. From October 2019 to February 2021, Travel + Leisure removed over 2,900 delinquent or defaulted loans totaling approximately $77 million, including roughly $34 million of defaulted loans, from its portfolio, materially improving its publicly disclosed loan loss provision and percentage without disclosing the projects. 🔗 Read more
• SEC Charges Georgia Man in Connection with Alleged $4.25 Million Real Estate Offering Fraud. The Securities and Exchange Commission filed charges against Lamar D. Fletcher for allegedly operating a fraud scheme, raising over $4.25 million from approximately 100 investors by selling promissory notes and securities. Fletcher falsely claimed to own a successful real estate business and promised returns of up to 80% annually, but instead used over $2 million for personal expenses and $2 million to pay returns to earlier investors. The SEC’s complaint seeks permanent injunctive relief, disgorgement of ill-gotten gains with prejudgment interest, and a civil penalty. 🔗 Read more
• CFTC Secures Court Order Directing Louisiana Man and Arkansas Woman to Pay Over $31 Million for Digital Assets, Precious Metals Fraud. Washington - The Commodity Futures Trading Commission announced a default judgment against Brian Early and Alisha Ann Kingrey for their roles in a digital assets and precious metals fraud involving Fundsz, ordering them to pay $15,732,455 in restitution and a $15,752,455 civil monetary penalty, along with permanent bans on registration and trading. Consent orders were also entered against Rachel Larralde and Juan Pablo Valcarce, with Larralde’s estate representative required to relinquish ownership of a residence and over $2.7 million in assets, and Valcarce facing permanent bans. 🔗 Read more
• The EBA publishes its 2027 Work Programme. The European Banking Authority (EBA) has published its 2027 Work Programme, focusing on improving efficiency, fostering resilience, and supporting transformation to position itself as a next-generation regulator. The Programme outlines key areas such as completing the 2024 banking package, preparing for the new payment services framework, and advancing digital finance regulations, aligning with the European Commission’s banking competitiveness agenda. Adopted by the EBA Board of Supervisors on 29 September 2026, it incorporates recommendations from the Advisory Committee on Proportionality and input from the European Commission, with progress available on the EBA website. 🔗 Read more
• ESMA calls for changes to make MiCA clearer, safer and ready for emerging services. The European Securities and Markets Authority (ESMA) has responded to the European Commission’s consultation on the Markets in Crypto-Assets Regulation (MiCA) with recommendations to simplify the framework while enhancing investor protection and addressing innovative business models like decentralised finance (DeFi). ESMA proposes new safeguards for investor protection, reinforced supervisory powers, clearer criteria for crypto-asset classification, and simplification of existing rules. Additionally, ESMA emphasizes the need for a framework to support the development of an integrated European tokenised capital market. 🔗 Read more
• AUSTRAC begins issuing infringement notices to non-enrolled businesses. AUSTRAC has started issuing infringement notices to businesses in the real estate, accounting, and jewellery sectors that failed to enrol under Australia’s AML/CTF laws, following formal requests for information in August. The notices, which cost $21,840 for corporate entities and $4,368 for individuals, can accrue daily, and AUSTRAC CEO Brendan Thomas emphasized that most businesses are responding to their obligations, though a small number continue to ignore them. The AML/CTF regime will expand on 1 July 2026 to include more sectors, and AUSTRAC is working with industry to clarify designated services, urging businesses to enrol and understand their obligations. 🔗 Read more

🗓️ October 1, 2026

• SEC Proposal Would Address How Investment Advisers and Funds Can Custody Crypto Assets Under the Federal Securities Laws. Washington D.C. - The Securities and Exchange Commission proposed new rules and amendments to create a tailored framework for the custody of crypto assets for registered investment advisers and regulated funds. This proposal aims to modernize custody rules, expand investor choice, and provide a clear regulatory framework, allowing for a compliant pathway and the use of state trust companies as custodians. It addresses current industry practices and updates requirements, including financial statement audits and broker-dealer custodial services. 🔗 Read more
• SEC’s Division of Examinations Announces New Exam Handbook. Washington D.C. - The Securities and Exchange Commission’s Division of Examinations has published “The SEC Exam Handbook: A Practical Guide on Process and Engagement,” which replaces the previous examination brochure by offering more detailed insights into the examination process. The handbook aims to ensure consistency and emphasizes a collaborative approach, supporting the SEC’s mission to improve industry practices, monitor risk, and prevent fraud. It covers all stages of an exam and provides registrants with practical tips and resources to prepare and stay compliant. 🔗 Read more
• SEC Charges Mississippi Man with Fraud in Alleged Marijuana Company Investment Scheme. The Securities and Exchange Commission charged Thomas J. Moore, III, with misappropriating approximately $1.94 million from about 20 individuals related to a medical marijuana business he owned. Between December 2021 and August 2024, Moore raised approximately $4.94 million from investors for Mississippi Green Oil, LLC, but allegedly spent $1.94 million on personal expenses and failed to pay promised profit distributions. The SEC seeks various legal actions against Moore, including a permanent injunction and disgorgement with prejudgment interest. 🔗 Read more
• Press Release: AMLA finalises key standards for the private sector. AMLA has finalized three sets of regulatory technical standards (RTS) to reduce money laundering and terrorist financing risks, providing a common framework for the private sector. These standards cover business relationships and occasional transactions, customer due diligence, and group-wide arrangements, offering clearer expectations for obliged entities and supervisors. They aim to strengthen AML/CFT controls and improve financial crime prevention and detection while being proportionate and risk-based. 🔗 Read more
• Press Release: AMLA finalises standards on Home-Host Supervisory Cooperation. AMLA has published its final draft Regulatory Technical Standards (RTS) on the cooperation of home and host supervisors of cross-border groups, establishing a simple, proportionate, and efficient framework for information exchange, cross-border inquiries, and coordinated supervision. The standards specify the roles of home and host supervisors, set out practical cooperation arrangements, and include a simplified disclosure framework for onward information sharing among EU supervisors. Developed with national supervisors, the standards favor a proportionate approach, requiring data checks before information requests and proactive sharing in line with a risk-based approach, and will become legally binding once adopted by the European Commission. 🔗 Read more

🗓️ October 2, 2026

• Federal Reserve Board announces approval of application by Fleur Capital Corporation. The Federal Reserve Board on Friday announced its approval of the application by Fleur Capital Corporation to acquire Simmesport State Bank, both of Simmesport, Louisiana. 🔗 Read more
• Federal Reserve Board announces it will extend, until November 4, the comment period on its proposal to modernize Regulation O. The Federal Reserve Board announced it will extend the comment period on its proposal to modernize Regulation O until November 4. This extension aims to give interested parties more time to analyze the issues and prepare their comments. Regulation O governs the extension of credit by a bank to its “insiders,” such as bank executives, board members, and major shareholders. 🔗 Read more
• Federal Reserve Board issues enforcement action with Ontario Bancorporation, Inc. The Federal Reserve Board announced an enforcement action against Ontario Bancorporation, Inc., located in Ontario, Wisconsin. This action involves a Written Agreement dated September 24, 2026. 🔗 Read more
• SEC Charges Former Chairman and CEO of Public Company in Alleged Scheme to Defraud Investors. The Securities and Exchange Commission filed charges against David Reichman, former Chairman and CEO of Global Tech Industries Group, Inc., for allegedly orchestrating a multi-year scheme to defraud investors by issuing tens of millions of shares to family, friends, and associates without providing services. The complaint also names his daughter, Justine Reichman, as a relief defendant, and seeks permanent injunctive relief, civil penalties, and disgorgement of ill-gotten gains against David Reichman, along with disgorgement against the relief defendants. The investigation was conducted by the SEC’s New York Regional Office, and litigation will be led by Travis Hill and others. 🔗 Read more