Misconduct occurred as part of a legitimate business, not a scam, panel found
Regulators enhance requirements on real estate issuers, collective investment vehicles
Total issuance almost doubled from 2019, led by institutional investors
The pilot program expands accredited investor exemptions beyond financial metrics
In the coming year, the regulator will assess how firms are implementing the CFRs
Regulatory settlement includes prohibitions and monetary sanctions
The court awarded aggravated and punitive damages, and granted a permanent injunction
PwC says KPMG stepped down as funds' auditor earlier this month
The settlement follows the firm's liquidation last year
Judge asks PwC to provide input on counsel for investors