By Aaron Nicodemus2024-05-30T18:41:00
The Financial Industry Regulatory Authority (FINRA) fined a Bank of America subsidiary $90,080 for filing untimely or inaccurate notifications related to security distributions and failing to adopt an adequate supervisory system.
Bank of America Securities, a broker-dealer based in New York City, filed approximately 195 problematic notifications with FINRA between August 2019 and August 2022, according to the self-regulatory organization’s final notice released Tuesday. The firm also lacked written supervisory procedures describing how it would comply with FINRA Rule 5190, per the notice.
The notifications were required by Regulation M, the Securities and Exchange Commission’s anti-manipulation provision.
2024-08-30T15:44:00Z By Adrianne Appel
A subsidiary of Bank of America agreed to pay $3 million and take remedial measures to resolve allegations that its surveillance system didn’t detect manipulative trading, the Financial Industry Regulatory Authority said.
2024-08-22T20:04:00Z By Aaron Nicodemus
Broker-dealer American Portfolios will pay a $225,000 fine to the Financial Industry Regulatory Authority (FINRA) over alleged deficiencies in its anti-money laundering program.
2024-07-30T15:43:00Z By Aaron Nicodemus
The Financial Industry Regulatory Authority ordered Western International Securities to pay $1.5 million for failing to implement a supervisory system to detect and respond to excessive trading, the firm’s fifth consent order with the regulator since 2019.
2025-09-09T16:51:00Z By Oscar Gonzalez
A Houston-based freight forwarder, Fracht FWO Inc., will pay $1.6 million for violating U.S. sanctions tied to Venezuela and Iran, according to the Treasury Department’s Office of Foreign Assets Control (OFAC). The fine comes as OFAC ramps up enforcement in recent months.
2025-09-08T14:27:00Z By Adrianne Appel
BNY, Citigroup, Santander, UBS, and two other financial institutions paid a total of $8.3M to settle separate compliance violations with the CFTC.
2025-09-05T18:10:00Z By Aaron Nicodemus
Deutsche Bank has agreed to pay a $3 million fine and has returned $5 million in fee overcharges to customers as part of a resolution with Hong Kong’s financial services regulator.
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