All Finance articles – Page 35
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News Brief
Bruderman Asset Management dinged $250K by SEC over disclosure lapses
The Securities and Exchange Commission ordered New York-based investment adviser Bruderman Asset Management and its principal to pay a total of $250,000 over their alleged failure to disclose misuse of profits raised from clients.
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News BriefCitigroup unit to pay $8.3M in FINRA partial tender offer case
A broker-dealer affiliate of Citi agreed to pay nearly $8.3 million as part of a settlement with the Financial Industry Regulatory Authority addressing allegations the firm overtendered shares in partial tender offers and received millions in ill-gotten gains.
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News Brief
SEC orders AssetMark to pay $18M in conflicts of interest case
Investment adviser AssetMark agreed to pay more than $18 million to settle allegations by the Securities and Exchange Commission regarding undisclosed conflicts of interest involving its affiliate’s cash sweep program and its revenue-sharing arrangements with third parties.
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News BriefLawsuit: Ex-Payqwick CCO fired, retaliated against for raising alarm
The ex-chief compliance officer at Payqwick, a California-based money transmitter that serviced the cannabis industry, is suing her former employer alleging wrongful termination and whistleblower retaliation over lax disclosures related to an acquisition.
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News BriefCarl M. Hennig dinged by SEC over Reg BI lapses
Wisconsin-based broker-dealer Carl M. Hennig agreed to pay a $50,000 fine to settle allegations by the Securities and Exchange Commission it failed to comply with Regulation Best Interest.
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News BriefSEC obtains judgment against J.H. Darbie in SARs reporting case
New York-based brokerage firm J.H. Darbie & Co. consented to pay a $125,000 penalty to resolve charges levied by the Securities and Exchange Commission that the firm failed to report suspicious activity regarding penny stock transactions.
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News BriefAmerican Infrastructure Funds to pay $1.6M over fiduciary duty breaches
California-based investment adviser American Infrastructure Funds agreed to pay more than $1.6 million to settle charges by the Securities and Exchange Commission regarding multiple breaches of its fiduciary duty to clients.
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News Brief
Citadel Securities fined $7M for mismarked short, long sales
Miami-based broker-dealer Citadel Securities was fined $7 million as part of a settlement with the Securities and Exchange Commission addressing mismarked short and long sales caused by a coding error in the firm’s automated trading system.
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News BriefGoldman Sachs fined $6M by SEC over admitted data inaccuracies
Goldman Sachs & Co. was assessed a $6 million penalty by the Securities and Exchange Commission as part of a settlement in which the financial institution admitted it submitted incomplete and inaccurate securities trading information affecting at least 163 million transactions.
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News BriefStoneX admits disclosure, supervision lapses in $650K CFTC settlement
Chicago-based swap dealer StoneX Markets agreed to pay $650,000 as part of a settlement with the Commodity Futures Trading Commission addressing admitted disclosure and supervision failures.
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News Brief
SEC adopts revised fund name requirements
The Securities and Exchange Commission adopted amendments to its rule covering fund names to ensure the regulation is appropriate to address new investment drivers, namely environmental, social, and governance matters.
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News BriefCFPB warns lenders on use of AI in credit denial process
The Consumer Financial Protection Bureau warned lenders using artificial intelligence in credit denials that consumers must receive accurate and specific reasoning—and not checklists—for why a credit request was denied.
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Blog
Balfour Beatty unit appoints chief compliance officer
Real estate investment and management company Balfour Beatty Communities, a subsidiary of British multinational infrastructure group Balfour Beatty, announced the appointment of David Berman as chief compliance officer.
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News BriefSEC: Investment adviser to sanctioned Russian oligarch failed to register
The Securities and Exchange Commission announced charges against New York-based Concord Management and its owner for operating as an unregistered investment adviser to a lone client: a sanctioned Russian oligarch.
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News BriefCBRE unit fined $375K over violating whistleblower protections
Commercial real estate services and investment firm CBRE agreed to pay $375,000 to settle allegations by the Securities and Exchange Commission that its separation agreements violated whistleblower protections.
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News BriefSEC fines registered rep for causing firm’s SARs filing lapses
A registered representative at an unnamed brokerage firm will pay $20,000 to settle charges by the Securities and Exchange Commission that he failed to notify the firm’s anti-money laundering department of apparent suspicious transactions.
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PremiumExperts: Lawsuit against SEC’s private fund rules unlikely to cause delay
A lawsuit filed by industry groups alleging the Securities and Exchange Commission overstepped its authority when it passed new rules for private fund advisers is unlikely to stop their implementation, according to experts.
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ArticleLessons learned from FCA case against CFP Management MLRO
The U.K. Financial Conduct Authority’s decision notice against the money laundering reporting officer of CFP Management sends a strong message to the financial industry, particularly those who work in senior management functions or hold oversight responsibilities.
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Blog
Fintech Dave appoints chief legal officer
Financial technology company Dave announced the appointment of Joan Aristei to chief legal officer.
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News Brief
Yieldstreet to pay $1.9M over securities offering disclosure lapses
Yieldstreet and its investment adviser affiliate agreed to pay more than $1.9 million as part of a settlement with the Securities and Exchange Commission addressing allegations the firm did not disclose heightened risks regarding a $14.5 million asset-backed securities offering.