The rule also prohibits the use of any simulated or hypothetical performance that is unaccompanied by a required statement:
“These results are based on simulated or hypothetical performance results that have certain inherent limitations. Unlike the results shown in an actual performance record, these results do not represent actual trading. Also, because these trades have not actually been executed, these results may have under-or over-compensated for the impact, if any, of certain market factors, such as lack of liquidity. Simulated or hypothetical trading programs in general are also subject to the fact that they are designed with the benefit of hindsight. No representation is being made that any account will or is likely to achieve profits or losses similar to these being shown.”
Recent lawsuits and regulatory announcements come as prediction markets have exploded into a multi-billion-dollar industry, with users betting on how much snow will fall.
Julie DiMauro3 min read
The Chairmen of the SEC and CFTC discussed how they could best coordinate regulation of digital assets as Congress scrambles to finalize legislation.
Alexander Barzacanos2 min read
A Florida man and his firm were fined and received trading bans arising from a fictitious natural gas block-trade scheme.
Alexander Barzacanos1 min read
Consent orders require two former precious metals traders to pay hefty civil penalties and accept industry bans, concluding an enforcement action launched in 2019.
Alexander Barzacanos1 min read
The advisory group will draw on industry heavyweights and public interest commentators to explore how new technologies can benefit markets and investors.
Alexander Barzacanos1 min read
Speakers emphasized technology‑neutral and principles‑based regulation, teased on new policies to come, or raised red flags.
Julie DiMauro5 min read
Some industry insiders weigh in on what we can expect for the coming year.
Carmen Cracknell2 min read
Our roundup of key crypto regulation stories.
Carmen Cracknell2 min read