Financial Compliance

MEMX Proposed Rule Change - Nasdaq BX to Nasdaq Texas Name Update

The SEC published a notice seeking comments on MEMX LLC's proposed rule change to amend Exchange Rule 13.4(a) to reflect Nasdaq BX, Inc.'s name change to Nasdaq Texas, LLC. The change is conforming and non-substantive, updating the data feed listing to reflect the corporate reorganization and rename of Nasdaq BX under Texas law rather than Delaware law.

Executive Leadership Transition: Totzke Departure and Luthra Promotion

Mattel, Inc. announced that Steve Totzke, President and Chief Commercial Officer, will step down effective May 1, 2026, after 30 years with the company. Sanjay Luthra, previously Executive Vice President and Managing Director of EMEA and Global Direct-to-Consumer, has been promoted to succeed Totzke as Chief Commercial Officer. Totzke will serve as Executive Advisor through December 31, 2026, to facilitate transition.

Asset Purchase Agreement - Supernus Acquires Navitor Pharmaceutical Assets

Supernus Pharmaceuticals, Inc. filed an SEC Form 8-K exhibit disclosing an Asset Purchase Agreement to acquire certain pharmaceutical compound assets from Navitor Pharmaceuticals, Inc. and Navitor Pharmaceuticals, LLC. The transaction, effective April 1, 2026, involves the purchase of intellectual property related to a CNS compound that Supernus has been developing in partnership with Navitor since 2020. The deal supersedes a prior Development and Option Agreement and Binding Memorandum of Understanding between the parties.

First Amendment to Offer Letter - Severance Eligibility Terms

Azenta, Inc. filed a First Amendment to Offer Letter for employee Olga Pirogova, adding Section 5 detailing severance eligibility provisions. The amendment specifies termination scenarios including voluntary departure, termination for cause, termination without cause, and termination following a Change in Control, along with corresponding compensation and benefits. The amendment also includes Section 409A tax compliance provisions.

CFTC FAQs, Guidance, MOUs, and No-Action Relief: Enforcement Priorities and Prediction Markets

Kelley Drye & Warren's Financial Services Group summarizes recent CFTC actions under new Chair Mike Selig and Enforcement Director David Miller from February–March 2026, covering FAQs, staff guidance, MOUs, and no-action relief affecting U.S. derivatives market participants. The CFTC reaffirmed its exclusive jurisdiction over prediction markets and outlined enforcement priorities targeting insider trading and market manipulation in event contracts traded on platforms like KalshiEX.

DOL fiduciary rule, Supreme Court Intel case, reshape 401(k) alternatives

JD Supra published analysis on a proposed Department of Labor rule and pending Supreme Court case that could reshape fiduciary standards for alternative investments in 401(k) plans. The DOL proposal would establish a safe harbor for offering alternatives by focusing on process-based compliance over investment outcomes, while the Supreme Court's review of Andersson v. Intel Corp. could clarify proof standards for fiduciary liability.

Revised Enforcement Decree of Microfinance Support Act

The Financial Services Commission of Korea approved revisions to the Enforcement Decree of the Microfinance Support Act on April 6, 2026. The revision raises the common microfinance contribution rate for banks from 0.06% to 0.10% and for nonbanks from 0.03% to 0.045% of household loan sizes, generating an additional KRW 197.3 billion annually (KRW 134.5 billion from banks, KRW 62.8 billion from nonbanks). The Korea Inclusive Finance Agency will also be authorized to provide credit guarantees for microloans under the Credit Counseling and Recovery Service program.

ASIC seeks appointment of receiver to investigate proposed sale of Interprac Financial Planning

ASIC has commenced Federal Court proceedings seeking appointment of a receiver to investigate the proposed $50,000 sale of Interprac Financial Planning Pty Ltd by Sequoia Wealth Group to Conquest Investment Partners. The regulator is concerned the sale may adversely affect creditors, including approximately 911 open AFCA complaints related to collapsed Shield and First Guardian Master Funds. ASIC seeks to investigate whether the sale is bona fide and Interprac's solvency before Sequoia is released from cross-guarantee obligations.

ASIC removes 11,964 scam websites in 2025, 90% increase

ASIC coordinated the removal of 11,964 phishing and investment scam websites in 2025, representing a 90% increase from 6,270 removals in 2024. The regulator also removed 1,100+ online investment scam advertisements on social media. Australians lost $2.18 billion to scams in 2025, with investment scams accounting for $837.7 million in losses.

Former ISG Director Benjamin Godfrey Banned for 10 Years

ASIC has banned Benjamin Godfrey, former director and responsible manager of ISG Financial Services Limited (in liquidation), from providing financial services, controlling a financial services entity, or performing any function involved in carrying on a financial services business for 10 years under sections 920A and 920B of the Corporations Act 2001. The ban takes effect on 31 March 2026.