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MutualOne Bank Consent Order

The Division of Banks and the FDIC have issued a consent order against MutualOne Bank. The order requires the bank's Board of Directors to ensure their supervision and direction of management are commensurate with the bank's size and risk profile, and to complete an independent assessment of the board and management within 90 days.

SEC Dismisses Civil Enforcement Action Against Vidul Prakash

The U.S. Securities and Exchange Commission (SEC) has dismissed its civil enforcement action against Vidul Prakash. The dismissal was filed via a joint stipulation with the defendant and is with prejudice, meaning the case cannot be refiled. The SEC cited the facts and circumstances of the case, including evidence developed in discovery, as the basis for its decision.

SEC v. Ofer Abarbanel - Fraud Orchestrator

The SEC announced a final consent judgment against Ofer Abarbanel, the alleged orchestrator of a $100 million fraudulent scheme involving two mutual funds. Abarbanel was permanently enjoined from future violations and ordered to pay disgorgement, offset by amounts already recovered and forfeited in a parallel criminal case.

FINRA Amends Rule 3220 on Gifts to Employees of Others

FINRA has adopted amendments to Rule 3220, increasing the annual gift limit to employees of other firms from $100 to $300. The amendments also codify current guidance and provide for exemptive relief, aiming to modernize rules and promote efficiency without reducing investor protection. Conforming amendments were made to related rules.

ESMA Publishes Q&As on Financial Markets, MiCA, CCPs, and Transparency

The European Securities and Markets Authority (ESMA) has published updated Questions and Answers documents covering various EU financial market regulations. These Q&As provide clarifications on topics including crowdfunding, Markets in Crypto-Assets (MiCA), OTC derivatives, central counterparties (CCPs), and the Transparency Directive.

ESMA Publishes Annual Equity Transparency Calculations

The European Securities and Markets Authority (ESMA) has published its annual transparency calculations for equity and equity-like instruments, effective April 6, 2026. These calculations determine liquidity assessments, relevant markets, large-in-scale thresholds, and tick-size regimes.

SEC Order Directing Third Disbursement of Fair Fund in Computer Sciences Corporation Matter

The SEC has issued an order directing a third disbursement of Fair Funds in the administrative proceeding against Computer Sciences Corporation. Approximately $517,004.73 will be distributed to harmed investors, bringing the total disbursed to 22.23% of their recognized claims.

SEC Revokes LNP R Group Inc. Securities Registration

The SEC has revoked the securities registration of LNP R Group Inc. due to non-compliance with Section 13(a) of the Exchange Act and associated rules. The company failed to file required periodic reports after September 30, 2023. This action is effective February 27, 2026.

SEC bars Ofer Ababaneh from investment industry

The SEC has barred Ofer Ababaneh from associating with any investment adviser, investment company, or any other person or entity registered or required to be registered with the Commission. This action follows Ababaneh's guilty plea and sentencing for investment adviser fraud, resulting in a 48-month prison sentence and restitution of $106,000,000.

SEC and FSA Hold Dialogue on Market Developments and Crypto

The SEC and Japan's FSA held their Spring Financial Regulatory Dialogue to discuss market developments, including crypto and digital assets. The meeting aimed to strengthen cooperation on cross-border issues and enhance investor protection in global capital markets.