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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2022-09-13T19:54:00
The Securities and Exchange Commission (SEC) charged four underwriters with failing to satisfy exemption requirements related to limited offerings of municipal bonds—the first time the agency has taken such an action.
Three of the underwriters charged Tuesday with violating federal securities law—BNY Mellon Capital Markets, TD Securities (USA), and Jefferies—agreed to settle. The SEC also filed a complaint in U.S. District Court for the Southern District of New York against Oppenheimer & Co., alleging the firm failed to make proper disclosures to investors regarding the sale of municipal bonds.
BNY Mellon, which the SEC said violated the disclosure requirements 254 times from 2019-21, agreed to return approximately $657,000 plus prejudgment interest back to harmed investors and pay a $300,000 penalty. TD Securities, with at least 35 violations from 2017-20, agreed to repay approximately $53,000 plus prejudgment interest to investors and pay a $100,000 penalty, and Jefferies (18 violations from 2017-20) will repay approximately $43,000 plus prejudgment interest and pay a $100,000 fine.
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2022-09-14T20:11:00Z By Aaron Nicodemus
The Securities and Exchange Commission for the first time punished a broker-dealer—Chicago-based Loop Capital Markets—for providing advice to a municipal entity without registering with the agency as a municipal adviser.
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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.
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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.
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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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