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.”
The DOJ shifts aim to end prosecutions over user actions and focuses enforcement on clear cases of fraud and abuse.
Vlada Gurvich3 min read
DOJ attorneys in court documents said they were using their “sole discretion” under a plea agreement with Glencore to "terminate the monitorship early."
Julie DiMauro4 min read
Federal financial markets regulation is being relaxed. Will the states take up the slack?
Alexander Barzacanos3 min read
Cyber threats are on the rise, but the SEC has signaled that it will backtrack on enforcing cybersecurity disclosures.
Alexander Barzacanos2 min read
Here's a summary of the most significant recent developments in US financial regulation.
Vlada Gurvich6 min read
We kick off coverage of the recent SIFMA C&L conference with a report on SEC Acting Chair Mark Uyeda's opening remarks.
Alexander Barzacanos5 min read
The CFTC said the moves were justified (in part) due to the agency's additional staff with experience in virtual currency derivative product listings.
Julie DiMauro1 min read
The new advisory highlights how fraudsters use GenAI to produce fraudulent identification materials that can be highly convincing.
Vlada Gurvich2 min read