By Kyle Brasseur2022-10-25T19:08:00
A pair of investment advisers owned by Cetera Financial Group must pay a total of more than $8.6 million as part of a final judgment obtained by the Securities and Exchange Commission (SEC) alleging the defrauding of Cetera advisory clients.
Cetera Advisors and Cetera Advisor Networks were each assessed penalties of $1 million in addition to combining to pay disgorgement and prejudgment interest of approximately $6.6 million to resolve SEC claims of violating the Investment Advisers Act raised in an October 2019 complaint. The case had originally been filed against Cetera Advisors in August 2019 before Cetera Advisor Networks was added as a defendant two months later.
Final judgment for the case filed in U.S. District Court for the District of Colorado was obtained Oct. 13, though the SEC announced the result in a litigation release Monday.
2021-08-31T16:42:00Z By Kyle Brasseur
The Securities and Exchange Commission penalized eight firms across three separate actions for breaches of employee email accounts that exposed the personal information of thousands of customers in each case.
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Three executives of a multinational voting machine company in the crosshairs of President Donald Trump since 2020 have been indicted in Florida by the U.S. Department of Justice for allegedly paying $1 million in bribes to the Philippines top election official.
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U.K. motor finance companies are preparing to pay billions in compensation after a Supreme Court ruling found they sold unfair car loans over many years, failing to disclose key information and denying consumers the chance to compare deals or negotiate.
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Even though the U.S. federal government is currently shut down, the U.S. Securities and Exchange Commission appears to still be at work. The financial regulator is reportedly investigating a major insurance and asset management company over its accounting practices.
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Europe’s massive financial sector has become a magnet for illicit money flowing through its banks and markets. A new EU agency will be taking the problem head-on to fight against money laundering.
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Charlie Javice, a former CEO who duped JPMorgan Chase into purchasing her start up company for $175 million, has been ordered to forfeit more than $22 million by the Department of Justice (DOJ) and to spend 7 years in jail.
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