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Warning: investing-in.pro Unauthorised Financial Services

BaFin issued a consumer warning about the website investing-in.pro, suspected of offering financial and investment services without the required authorisation under German law. The operators use the name "Investing In" and have now added this domain to previously warned websites. BaFin advises consumers to verify company authorisation status in its database before engaging with any financial service provider.

Action Against Mortgage Servicer Newrez LLC

Washington State DFI issued a Statement of Charges against Newrez, LLC, a non-bank mortgage servicer, alleging numerous repeat violations of the Consumer Loan Act of Washington between 2021-2026. The enforcement action follows an investigation triggered by over 125 consumer complaints. DFI seeks a $4,175,000 fine—one of its most significant fines outside of multi-state enforcement—along with an order requiring Newrez to cease violations and remediate consumer harm.

CFTC Enforcement Priorities: Fraud, Manipulation, Insider Trading

CFTC Division of Enforcement Director David Miller outlined five enforcement priorities including insider trading, fraud, and manipulation, signaling a significant ramp-up in enforcement activity. The Director emphasized CFTC jurisdiction over prediction markets and announced a new cooperation policy offering incentives for self-reporting and full cooperation.

Flowers Title Companies v. Bessent - Real Estate Reporting Rule Vacated

A federal judge in the Eastern District of Texas vacated FinCEN's residential real estate reporting rule in Flowers Title Companies v. Bessent, finding the agency exceeded its statutory authority under the Bank Secrecy Act. The rule, which required collection and reporting of information for non-financed residential real estate transfers to entities and certain trusts, is now void. FinCEN has updated its website to confirm reporting persons are not currently required to file real estate reports while the court order remains in force.

California DFAL License Requirements and July 2026 Deadline

The California Department of Financial Protection and Innovation (DFPI) has begun accepting Digital Financial Assets Law (DFAL) license applications through the Nationwide Multistate Licensing System (NMLS). Any person engaging in digital financial asset business activity with California residents must submit a complete application by July 1, 2026, or cease operations. The DFAL establishes a "BitLicensesque" regime covering digital asset custody, exchange, issuance, and digital asset kiosks.

DOL Fiduciary Rule Reshapes 401(k) Investment Evaluation

The US Department of Labor published a proposed rule to implement an executive order on alternative assets in 401(k) plans. The rule would establish a new process-based safe harbor for fiduciary decision-making and expand permissible investment options to include private equity, real estate, digital assets, commodities, infrastructure, and longevity risk-sharing pools.

UK FCA Annual Work Programme 2026/27

The UK FCA published its annual work programme for 2026/27, outlining four strategic priorities: becoming a smarter regulator through AI, supporting growth, helping consumers, and tackling financial crime. Key planned activities include regulating deferred payment credit (BNPL) from July 2026 and developing AI-enabled authorisation tools. The programme covers capital requirements reform for investment firms, a bonds consolidated tape, and T+1 settlement cycle adoption.

Robert Humphrey sentenced 10 years probation for $412,500 investment fraud targeting seniors

Robert Humphrey sentenced 10 years probation for $412,500 investment fraud targeting seniors

Former Naples Man Sentenced for Role in Investment Scam

The Florida Office of Financial Regulation announced that Konstantinos Konstantinou was sentenced to four years in prison and 25 years probation for defrauding an elderly couple through a fake T-Bond investment scheme. Konstantinou must pay $707,395 in restitution. He was not registered as a securities dealer when he solicited the investment.

Orlando Man Arrested for Alleged Elder Investment Fraud Scheme

The Florida Office of Financial Regulation announced the arrest of Anthony Michael Hernandez on charges of organized fraud, exploitation of the elderly, unregistered securities sales, and bank fraud. Hernandez is accused of orchestrating a $1.6 million investment fraud scheme targeting more than 300 mostly elderly investors across 37 states. Bond was set at $1.95 million.

Florida SB 180 Securities Regulation

Florida Office of Financial Regulation Commissioner Russell C. Weigel, III issued a statement on Governor DeSantis signing Florida Senate Bill 180 – Securities Regulation. The bill takes effect October 1, 2023, and eliminates issuer-dealer registration requirements and issuer escrow requirements, exempts advisers to private funds from registration, reduces a filing fee, and establishes continuing education requirements for associated persons of investment advisers and federal covered advisers.

OFR Warns Unlicensed Check Cashers, Issues Subpoenas in Operation CheckBox

The Florida Office of Financial Regulation (OFR) conducted Operation CheckBox, a statewide sweep targeting convenience store retailers operating unlicensed self-service check-cashing machines. The OFR issued warning letters, subpoenas, and document requests to over a dozen unlicensed entities and began formal investigations of three related companies for potential violations of Chapter 560, Florida Statutes.

GENIUS Act State Regulatory Regime Substantially Similar Determination Framework

Treasury issued its first proposed rule under the GENIUS Act (enacted July 2025) implementing section 4(c), which establishes principles for determining whether state-level payment stablecoin regulatory regimes are "substantially similar" to the federal framework. The proposal permits issuers with up to $10 billion consolidated total outstanding issuance to opt for state regulation if approved by the Stablecoin Certification Review Committee. Comments are due June 2, 2026.

Delaware Stablecoin Licensing and Digital Asset Framework

Delaware senators introduced SB19 (Delaware Payment Stablecoins Act) and SB16 (Delaware Banking Modernization Act) on March 23, 2026, proposing a state licensing and regulatory framework for stablecoin issuers and digital asset service providers. The bills align with the federal GENIUS Act requirements, including 1:1 reserve backing, anti-money laundering obligations, and consumer disclosures.

6th Circuit pauses CFPB open banking rule appeals pending rulemaking

6th Circuit pauses CFPB open banking rule appeals pending rulemaking

Financial Empowerment Month Credit and Credit Repair Consumer Guidance

The New Hampshire Banking Department released consumer education materials as part of Financial Empowerment Month, highlighting free credit report access through AnnualCreditReport.com and warning consumers about fraudulent credit repair companies. The announcement links to FTC credit repair resources and NH Department of Justice consumer credit card guidance.

DFC Information Collection Comment Deadline Correction

DFC published a correction notice in the Federal Register to amend a previous notice regarding an information collection request. The correction fixes an error in the comment period deadline from an incorrect 60-day date to the correct date of May 6, 2026. This is an administrative correction with no substantive policy changes.

NYSE American Rule Change Approving Options on Multi-Asset Crypto Commodity-Based Trusts

The SEC approved NYSE American's proposed rule change to amend Exchange Rule 915, Commentary .06(v), allowing the Exchange to list and trade options on Commodity-Based Trusts holding multiple crypto assets. Previously, only single-asset crypto trusts qualified. Each crypto asset held by the trust must meet the $700 million average daily market value threshold and have derivatives trading on a market with surveillance-sharing agreements.

Limited Exemptions from Regulation NMS Rule 605

The SEC issued an order granting limited exemptions from Regulation NMS Rule 605 execution quality reporting requirements. The order grants broker-dealers an exemption from Rule 605 for certain OTC market making activities while modifying or rescinding several prior exemptions. These changes affect broker-dealers subject to Rule 605 reporting requirements for covered orders in NMS stocks.

NYSE Arca Rule 5.3-O Amendment - Multi-Asset Crypto Commodity Trust Options

The SEC approved NYSE Arca's proposed rule change to Exchange Rule 5.3-O(g)(x), allowing the Exchange to list and trade options on Commodity-Based Trusts holding multiple crypto assets. Previously limited to single-asset crypto trusts. Each crypto asset within the trust must meet the $700 million average daily market value threshold over the prior 12 months and have derivatives traded on markets with surveillance-sharing agreements. No public comments were received.

Building Financial Capability Through Investor Education

The Colorado Division of Securities issued a consumer alert for Financial Capability Month promoting investor education resources including Investing 101, Smart Investor Checklist, and guidance on working with financial professionals. The alert references FTC data showing U.S. consumers lost $7.9 billion to investment fraud in 2025 and provides links to resources for spotting red flags of investment fraud.

FPI Debt Investment Limits and Credit Default Swaps

The Reserve Bank of India has issued A.P. (DIR Series) Circular No. 05 setting FPI investment limits for FY 2026-27 (April 2026 to March 2027). The percentage limits for G-Secs (6%), SGSs (2%), and corporate bonds (15%) of outstanding stocks remain unchanged under the General Route. A key policy change requires all Voluntary Retention Route investments to now be subject to General Route limits. Total debt limits have been revised to ₹15,51,646 crore for the first half and ₹16,32,640 crore for the second half, with an additional ₹3,30,464 crore CDS limit.

Bank Control Notices Under the Change in Bank Control Act

The Federal Reserve Board published notice seeking public comments on two bank control applications under the Change in Bank Control Act. The Weaver Family Control Group (Russell A. Weaver II, Sandra M. Weaver, and Wanda K. Weaver-Marshall) seeks to retain voting shares of Fryburg Banking Company Inc. James N. Carson seeks to retain voting shares of Carson Financial Holding Company, Inc. Comments must be received by April 20, 2026.

Bank Holding Company Applications Notice

The Federal Reserve published a notice of bank holding company applications received. Compass Sub Northwest, Inc. and Compass Sub North, Inc. (both of Birmingham, Alabama) have applied to become bank holding companies through acquisitions of Green Dot Corporation and CommerceOne Financial Corporation respectively. The public may submit comments on these applications through May 6, 2026.

Change in Bank Control Act Acquisition Notices

The Board of Governors of the Federal Reserve System published notices of two applications under the Change in Bank Control Act seeking approval to acquire voting shares of Townsend Financial Corporation and indirectly acquire Farmers Bank, both of Parsons, Tennessee. The applications involve two separate applicant groups from Pennsylvania. Public comments are invited through April 17, 2026.

Correction to Bank Control Notice - Carson Financial Holding Company

The Federal Reserve issued a correction to a previously published bank control notice (FR Doc. 2026-06545) regarding James N. Carson's ownership interest in Carson Financial Holding Company and Carson Community Bank. The correction updates the shareholder's residence location from Prairie Grove, Arkansas. This is a routine administrative correction with no change to the substantive ownership determination.

Fed's Two Tools Affect Money Market Conditions

The Federal Reserve Bank of New York published research analyzing how the Fed's two monetary policy tools—changes in administrative rates and balance sheet size—affect money market conditions. Using confidential trade-level repo data from the OFR, the Staff Report (sr1189) finds both tools have significant effects on repo pricing, with wider dealer spreads observed during the 2022-23 tightening cycle.

Winston Felix - Unsuitable Tax-Loss Trading Enforcement

The Washington State Department of Financial Institutions Division of Securities issued a Final Order against investment professional Winston Felix for recommending unsuitable tax-loss harvesting trades to a Washington customer in late 2022, resulting in over $120,000 in capital losses. The Division imposed penalties including a $10,000 fine, 90-day suspension, cease and desist order, and $3,281.25 in investigative costs. The order found Felix failed to gather information about the customer's capital gains position or existing loss carryforwards before executing the strategy.

LPL Financial LLC - Consent Order - Excessive Commissions

The Washington State Department of Financial Institutions Division of Securities issued a Consent Order against LPL Financial LLC for charging unreasonable commissions on equity transactions. The firm must pay $61,456.75 in restitution to 1,724 Washington State residents and a $25,000 fine. Within 60 days, LPL must certify in writing that its policies and procedures regarding fair and reasonable commissions have been enhanced.

Commodore Asset Management Registration Revoked with $500 Penalty

The Washington State Department of Financial Institutions Division of Securities issued a Consent Order (S-25-4018-25-CO01) against Commodore Asset Management, LLC and Darnell Lee Commodore on March 17, 2026. The order imposes a $500 penalty, revokes the firm's securities registration, and requires heightened supervision for 2 years upon any new registration. The enforcement action stems from the respondents' failure to file their 2024 balance sheet and 2024 annual updating amendments.

JKN Universe LLC - Franchise Fraud Consent Order

The Washington State Department of Financial Institutions Division of Securities issued a Consent Order (S-24-3863-25-CO01) against JKN Universe, LLC for violating the Franchise Investment Protection Act (RCW 19.100.170). The company must pay $8,000 in investigative costs and is subject to a cease and desist order for making material misstatements regarding VVV Global's role in franchise operations.

Financial Regulators' Adaptation to Fintech, AI, and Stablecoins

The House Financial Services Subcommittee on Digital Assets, Financial Technology, and Artificial Intelligence held a hearing examining how federal financial regulators are adapting to new technologies. Officials from the Fed, FDIC, OCC, and NCUA testified on their strategies for fostering innovation in AI, digital assets, and bank-fintech partnerships. The hearing also covered implementation of the GENIUS Act for payment stablecoins and the draft Financial Services Innovation Act of 2026.

OCC March 2026 Enforcement Actions Summary

The OCC released its March 2026 enforcement actions, including one prohibition order against a former bank employee. The agency also terminated one consent order and three formal agreements with banks, citing full compliance with requirements, outdated provisions, or incorporation into new actions as reasons for termination.

Washington enacts Uniform Consumer Debt Default Judgments Act

Washington State has enacted the Uniform Consumer Debt Default Judgments Act, expanding consumer protections in debt collection lawsuits by imposing new complaint and disclosure requirements on plaintiffs seeking default judgments. The law, which applies to all holders of purchased debt and their affiliates, requires detailed account information, venue and statute of limitations compliance allegations, and documentation proving the debt. The law takes effect January 1, 2027.

Credit agency wins FCRA case, no actionable harm

Credit agency wins FCRA case, no actionable harm

When Participant Growth Becomes a Fiduciary Prompt — Not a Punchline

The Rosenbaum Law Firm published an analysis warning retirement plan sponsors that participant growth metrics do not equate to fiduciary compliance. The article uses Empower's reported addition of 500,000 net new retirement plan participants as context to highlight that larger participant populations increase operational complexity, testing nuances, and probability of service breakdowns.

DOL Proposed Fiduciary Framework for 401(k) Investment Selection

The Department of Labor published proposed regulations on March 31, 2026, establishing a new framework and process-based safe harbor for fiduciaries selecting designated investment alternatives in 401(k) plans. The proposal addresses six factors (Performance, Fees, Liquidity, Valuation, Performance Benchmark, Complexity) and aims to reduce litigation risk for plan fiduciaries. Public comments are due by June 1, 2026.

Credit Agreement Implications of Supreme Court Tariff Decision

Orrick, Herrington & Sutcliffe LLP analyzes credit agreement implications following the Supreme Court's February 20, 2026 ruling invalidating IEEPA tariffs. The analysis addresses accounting treatment of potential refunds under FASB ASC 410-30 and ASC 450, and covers impacts on interest margins, financial covenants, incurrence tests, and extraordinary receipts provisions. Borrowers with existing credit facilities should evaluate these developments with their accountants and lenders.

FDIC February Enforcement Actions - Consent Orders and Waiver Terminations

The FDIC published its February 2026 enforcement actions list on March 27, consisting of nine total actions: one consent order, one order of prohibition, six orders terminating 100 waiver orders, and one notice. The FDIC noted that no administrative hearings were scheduled for April 2026.

SEC Extends Trading Relief to Share Class ETFs

The SEC issued its fourth approval extending trading relief to share class ETFs, enabling these newly authorized ETF structures to begin listing and trading. The relief extends the broker-dealer exemptive provisions under Rule 6c-11 to share class ETFs, resolving a gap where brokers could not rely on existing relief for these instruments.

California DFAL requires digital asset firms to obtain DFPI license by July 2026

California's Department of Financial Protection and Innovation (DFPI) requires digital asset businesses serving California residents to obtain a DFPI license by July 1, 2026 under the Digital Financial Asset Law (DFAL). Affected entities include exchanges, custodians, wallet providers, digital asset issuers, and crypto kiosk operators. Applicants must submit audited financial statements, maintain a minimum $500,000 surety bond, implement AML/BSA and KYC programs, align cybersecurity to NIST CSF 2.0, and provide customer disclosures.

FCA proposes flexible suitability reviews, replaces annual requirement

The FCA published Consultation Paper CP26/10 on March 25, 2026, proposing to replace the current mandatory annual suitability review requirement for ongoing investment advice with a more flexible periodic review obligation. Under the proposed changes, firms providing investment advice to retail customers would determine review frequency based on client needs, risk profiles, and investment complexity, consistent with Consumer Duty obligations. Comments on the consultation close June 17, 2026.

Proposed Removal of Prescriptive Rule on Indirect Vehicle Loan Servicing

The NCUA Board published a proposed rule to remove prescriptive regulatory requirements governing third-party servicing of indirect vehicle loans currently codified at §§ 701.21(h) and 741.203(c). The existing rule limits indirect loans and participations purchased from any one servicer to 50% of a credit union's net worth (increasing to 100% after 30 months of experience). The proposal seeks comment on reducing regulatory burden and providing credit unions greater operational flexibility through a principles-based supervisory approach.

Insurance License Revoked for Exam Fraud

Michigan DIFS issued an Order Accepting Stipulation revoking the insurance license of Davide Nicorescu-Adams (Enforcement Case No. 26-18945) effective March 11, 2026. The respondent admitted to obtaining a license through misrepresentation and using fraudulent or dishonest practices in violation of MCL 500.1239(1)(a) and MCL 500.1239(1)(g). The order permanently bars the respondent from reapplying for any license administered by DIFS.

Stipulation and Consent Order - Daxton Fillmore

The Michigan Department of Insurance and Financial Services (MI DIFS) issued a Directors Order and Stipulation accepting a consent agreement in Case No. 25-18469 involving Daxton Fillmore. The enforcement action addresses alleged violations of Michigan's Financial Institutions Code, with multiple monetary penalties and remediation provisions specified in the stipulation.

Real-Time Reconciliation and Kill Switches Required for Virtual Asset Exchanges

The Financial Services Commission of Korea met with five major virtual asset exchanges and DAXA on April 6, 2026, to announce enhanced requirements following inspections after Bithumb's erroneous payout incident. Inspections revealed inadequate ledger-to-wallet reconciliation (24-hour basis only), missing kill switches, and poor high-risk transaction controls. Exchanges must now implement real-time reconciliation every five minutes, automated kill switches for large-scale mismatches, and increase external verification from quarterly to monthly.

Meer Group Falsely Claims ADGM Regulation

ADGM's Registration Authority and Financial Services Regulatory Authority jointly issued a regulatory alert warning that Meer Group (operating at meer.capital) is falsely claiming ADGM regulation through marketing materials and WhatsApp messages. The authorities advise the financial services community and public that Meer Group has no authorization from ADGM. No financial penalties or enforcement actions are specified in this alert.

Florida Financial Institution Tropical Cyclone Nine Proclamation

The Florida Office of Financial Regulation issued a proclamation to Florida state-chartered financial institutions and securities professionals regarding potential Tropical Cyclone Nine. The advisory serves as advance notice to the regulated community to prepare for potential storm impacts. No specific compliance requirements or deadlines were established in this proclamation.

Proclamation to Florida Financial Institutions Regarding Tropical Storm Milton

The Florida Office of Financial Regulation (FL OFR) issued a proclamation on October 6, 2024, to Florida state-chartered financial institutions and securities professionals regarding Tropical Storm Milton. The proclamation appears to be a standard emergency notification mechanism for the financial services sector during severe weather events. No specific compliance obligations, deadlines, or penalties are detailed in the notice.

Hurricane Milton Regulatory Relief for Financial Institutions

The FDIC, Federal Reserve, Florida Office of Financial Regulation, NCUA, and OCC issued an interagency statement on October 15, 2024, providing supervisory relief for financial institutions affected by Hurricane Milton. The statement addresses lending flexibility, temporary facility operations, publishing requirements, and regulatory reporting. The agencies will not assess penalties against institutions taking reasonable and prudent steps to comply with reporting requirements.