Boredom and isolation do strange things to human beings. It can make them do things they’d never consider in ordinary life: cut their own hair, imitate famous works of art, parent their children, talk to their parents, read books, make amends, get introspective.

The men and women of the Securities and Exchange Commission are also being quarantined, and they’re also reacting to the experience strangely. For the last three-and-a-half years, they’ve done their level best to do as little as is humanly possible. Now, however, in absence of any of the things they normally do to ensure they do as little as possible, they’ve gone positively hyperactive.

The U.S. Securities and Exchange Commission charged Praxsyn Corp. and its chief executive Tuesday with making false and misleading statements about its ability to acquire and supply large quantities of N95 or similar masks.

As the June 30 compliance date for the Securities and Exchange Commission’s Regulation Best Interest approaches, the agency is reminding broker-dealers when they can, and can’t, use the term “advisor” or “adviser.”

In updated frequently asked questions guidance, the SEC states that the agency “presumes that the use of the terms ‘adviser’ or ‘advisor’ in a name or title by a broker-dealer that is not also registered as an investment adviser is a violation of the requirement to disclose the broker-dealer’s capacity under” Reg BI’s Disclosure Obligation.

The Securities and Exchange Commission is investigating Luckin Coffee Inc.’s disclosure that some of its employees cooked its books last year, according to people familiar with the matter.

SEC Charges Florida Company Over Statements About Medical Masks [WSJ]
SEC Clarifies When Use of ‘Advisor’ Violates Reg BI [ThinkAdvisor]
SEC Investigates China’s Luckin Coffee Over Accounting Scandal [WSJ]
Earlier: You Guys Realize Ticker Symbols Aren’t The Same Thing As Company Names, Right?; If You Survive This, You Might Be An Accredited Investor On The Other Side; Have You Heard Of The Penny Stock Companies That Are Gonna Save Us?; Serial Bummer Jay Clayton Takes The Fun Out Of Coronavirus Bailouts; Private Equity Firms Don’t Do Things For Free, You Guys; Unable To Go To Beach, Florida Man Settles With SEC Instead

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An accredited investor definition that keeps their numbers about constant and decreases the likelihood of people coming crying to the SEC? It’s perfect.