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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-01-23T20:26:00
Bloomberg Finance agreed to pay a $5 million fine for alleged misleading disclosures it made about how it calculated the valuations it provided on fixed-income securities to the financial services industry.
From at least 2016 to October 2022, Bloomberg failed to disclose valuations offered through its paid subscription service, BVAL, could be affected by a single data input, such as a broker quote, the Securities and Exchange Commission (SEC) said Monday in a press release.
Bloomberg disclosed to its BVAL customers “that its independent valuations of fixed income securities are derived by using proprietary algorithmic methodologies,” the SEC said in its order, and described those methodologies in detail.
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News and analysis for the well-informed compliance or audit exec.
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Our lowest price ($1 per day) for one year.
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2021-06-14T18:32:00Z By Kyle Brasseur
SEC Chair Gary Gensler expressed his support for the Fed-backed Secured Overnight Financing Rate over the Bloomberg Short-Term Bank Yield Index, which he believes has similarities to LIBOR that could be manipulated.
2024-07-26T19:49:00Z By Aaron Nicodemus
Three federal banking regulators issued guidance on the risks posed by the use of third-party financial technology firms to deliver bank deposit products and services to customers.
2024-07-26T19:18:00Z By Jeff Dale
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
2024-07-26T13:36:00Z By Adrianne Appel
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
2024-07-24T17:19:00Z By Adrianne Appel
Prysmian Cables and Systems USA agreed to pay $920,000 to settle allegations it falsified tests and compliance certifications concerning cable it sold to the U.S. military for use in vehicles, the Department of Justice said.
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