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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2023-05-23T15:44:00
JPMorgan Securities agreed to pay $750,000 to settle allegations levied by the Financial Industry Regulatory Authority (FINRA) that its inadequate financial risk management controls and supervisory procedures allowed five erroneous orders to be placed with exchanges or alternative trading systems.
From January 2019 to July 2022, the broker-dealer’s financial risk management controls were “not reasonably designed to prevent certain erroneous orders that exceeded appropriate price or size parameters, on an order-by-order basis or over a short period of time, or that indicated duplicative orders,” FINRA stated in its order issued Monday.
The $750,000 fine will be paid jointly to Nasdaq and FINRA, of which $187,500 is allocated to FINRA, the order said.
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News and analysis for the well-informed compliance or audit exec.
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2023-07-26T17:16:00Z By Kyle Brasseur
LPL Financial was fined $3 million as part of a settlement with the Financial Industry Regulatory Authority over alleged supervision failures related to transmittal of customer funds and forged signatures by employees.
2023-06-23T16:49:00Z By Jeff Dale
JPMorgan Securities agreed to pay $4 million to settle charges levied by the Securities and Exchange Commission regarding record retention violations related to the deletion of approximately 47 million electronic communications.
2023-04-19T14:20:00Z By Kyle Brasseur
Barclays Capital was fined $2.5 million as part of a settlement with the Financial Industry Regulatory Authority addressing allegations the investment bank failed to accurately report over-the-counter options positions in more than 4 million instances.
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.
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