Financial Compliance

DFPI Enforcement Actions and Orders - December 2025

The California Department of Financial Protection and Innovation (DFPI) issued a summary of enforcement actions and orders for December 2025. These actions include desist and refrain orders, accusations, and license revocations against individuals and entities for violations of securities, debt collection, escrow, and financing laws.

DFPI Enforcement Actions - November 2025

The California Department of Financial Protection and Innovation (DFPI) issued several enforcement actions in November 2025, including consent orders, settlement agreements, and license revocations. These actions address violations of California's Financial Code and Corporations Code related to lending, financing, and securities activities.

California DFPI Enforcement Actions Summary - October 2025

The California Department of Financial Protection and Innovation (DFPI) issued 7 enforcement actions against 7 entities and 4 actions against individuals in October 2025. These actions address violations of various financial laws, including the California Consumer Financial Protection Law, California Commodity Law, and California Financing Law.

SEC v. Gessin, Equifunds, Ice Fleet - Securities Fraud Enforcement

The SEC announced final judgments by default against Equifunds, Inc., John David Gessin, and Ice Fleet LLC for a fraudulent scheme that raised over $1.6 million from retail investors. The judgments include disgorgement, prejudgment interest, and a civil penalty against Gessin.

SEC Obtains Final Judgment Against Nicholas Bowerman in Accounting Fraud Case

The SEC announced it has obtained a final judgment against Nicholas Bowerman, a former finance director at CIRCOR International, for alleged accounting fraud. The judgment includes permanent injunctions, a prohibition from serving in financial roles at public companies, and orders Bowerman to pay disgorgement, interest, and a $75,000 civil penalty.

FINRA Guidance Documents, Interpretive Letters, FAQs, and Best Practices

FINRA has published a collection of its guidance documents, interpretive letters, FAQs, and best practices related to specific topics. This resource aims to provide clarity and support for regulated entities in understanding and adhering to FINRA rules.

CSA and CIRO Guidance for Finfluencers and Firms

The Canadian Securities Administrators (CSA) and Canadian Investment Regulatory Organization (CIRO) have released new guidance for financial content creators ('finfluencers') and the firms they work with. The guidance aims to ensure compliance with securities laws, promote transparency, and protect investors from risks associated with online financial information.

Canadian Securities Regulators Disarm Fraudulent Investment Websites

The Canadian Securities Administrators (CSA) and the Canadian Investment Regulatory Organization (CIRO) announced the initial results of a new initiative to combat fraudulent investment websites. Between June 5 and November 23, 2025, regulators deactivated over 3,900 fraudulent websites and 6,900 URLs.

CSA Eases Investment Fund Reporting Requirements

The Canadian Securities Administrators (CSA) has finalized amendments to modernize the continuous disclosure regime for investment funds, effective April 22, 2026. These changes aim to reduce regulatory burden by providing exemptions from certain reporting requirements and eliminating unnecessary disclosures, while maintaining investor protection.

CSA Warns Registrants About Malicious Impersonation Scam Emails

The Canadian Securities Administrators (CSA) has issued a warning to registrants about a malicious spear phishing scam. The emails impersonate the CSA and aim to obtain personal or confidential business information. Registrants are urged to be vigilant, verify sender addresses, and report suspicious emails.