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.”
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SEC and CFTC act ahead of Congress with joint crypto guidance
The guidance says most digital assets are not securities but stops short of creating a full market framework.
Alexander Barzacanos3 min read
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SEC, CFTC sign cooperation memo
The agreement replaces the agencies’ 2018 memorandum and sets out updated procedures for how they can work better together, and apart, from one another.
Alexander Barzacanos2 min read
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Atkins discusses CFTC-SEC harmonization and regulatory simplification
Atkins called for non-duplicative SEC-CFTC oversight and more straightforward approval of new products.
Alexander Barzacanos2 min read
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CFTC’s Selig signals green light for crypto perpetuals
The derivative contracts, which trade widely offshore, will likely soon come to US markets with faster listings via self-certification.
Alexander Barzacanos1 min read
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CFTC: Yes, we can police prediction market insider trading
The CFTC asserts itself in previously murky regulatory waters.
Alexander Barzacanos3 min read
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On the eve of Valentine’s Day, regulators warn of romance-driven scams
As Valentine’s Day approaches, several US regulators are confronting a costly form of fraud.
Vlada Gurvich4 min read
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Atkins glosses SEC agenda in House speech
The SEC chief touched on his plans to “Make IPOs great again,” review the costs of the Consolidated Audit Trail and PCAOB, and support crypto clarity.
Alexander Barzacanos2 min read
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Polymarket sues over sports prediction ban, debate about oversight lingers
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
