Securities Regulation Daily Wrap Up, WORTH NOTING—Other litigation, regulatory activity and industry news, (Apr 24, 2026)

By WK Editorial Staff

A weekly roundup of items of interest to the securities, derivatives and corporate governance communities.

ENFORCEMENT—The U.S. District Court for the Southern District of New York has entered a final judgment by default against purported investment adviser Supreme Power Capital Management Ltd. in connection with previously filed charges for making material misrepresentations and unsubstantiated statements in a form filed with the SEC. The SEC’s complaint, filed on November 13, 2025, alleged that in its December 2023 Form ADV, Supreme Power represented that it is an Exempt Reporting Adviser, that it is a public company operating from office space in New York City, that it manages $10 million in assets in the U.S., that it advises a private fund, and that a separate registered investment adviser (RIA) reports information about the private fund on its own Form ADV. Contrary to Supreme Power's representations, the complaint alleged that the real estate manager of the New York office space had no knowledge of Supreme Power or its CEO and COO, and the separate RIA had not reported information about the fund. The final judgment permanently enjoins Supreme Power from future violations of Sections 204(a) and 207 of the Investment Advisers Act of 1940, and also enjoins Supreme Power, its owners, and its executive officers from filing a Form ADV as an Exempt Reporting Adviser. In addition, the judgment orders Supreme Power to pay a civil penalty of $1,182,254.

ENFORCEMENT—A CFTC Administrative judge dismissed a complaint by AMA Real Estate & Financial Services that centered on whether NinjaTrader Clearing, LLC (NinjaTrader) failed to execute AMA’s trade instructions, allegedly causing it roughly $616 in out-of-pocket losses and $2,000 in lost profits. Furthermore, the judge said that while her office endeavored to move the proceeding along efficiently, AMA tried to thwart that endeavor at several junctions. These tactics are unavailing, the court said, adding that the evidentiary record made it clear that AMA failed to prove any violation of the CEA or its regulations by NinjaTrader. The complaint was dismissed with prejudice, and the parties were told to bear their own costs and attorneys’ fees.

PRIVATE EQUITY NEWS—Phillip Basil, director of Economic Growth and Financial Stability for Better Markets, issued a statement and fact sheet in response to the final rule issued by the Office of the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, and the Federal Deposit Insurance Corporation that lowers the community bank leverage ratio (CBLR) requirement from 9 percent to 8 percent. The capital rules make community banks targets for private equity predators, he said. “In the comment process,” Basil said, “Better Markets supported the agencies reducing the CBLR to 8 percent, which will allow community banks to redirect retained earnings toward much-needed investments in technology, operations, and risk management.... As we have documented in detail, community banks are the backbone of the Main Street economy, using 75 percent of their deposits for direct lending to the real economy compared to just 40 percent at the largest banks. An 8 percent CBLR requirement can help community banks remain competitive. “However, the agencies have made a serious policy mistake by finalizing this rule without any of the safeguards Better Markets urged in our comment letter to prevent predatory behavior by outside investors, particularly private equity firms,” he said.

IndustryNews: CFTCNews Enforcement ExchangesMarketRegulation PrivateEquityNews