- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2024-07-11T19:04:00
UBS Financial Services, a subsidiary of the Swiss banking giant UBS, has been fined $850,000 for failing to properly monitor transactions between its broker-dealers and third parties.
The Financial Industry Regulatory Authority (FINRA) announced the fine Monday in an order, alleging that a UBS registered representative facilitated private securities transactions totaling over $7.2 million to a third party, in violation of FINRA rules, and that UBS did not have sufficient procedures to monitor such transactions.
From 1997 to 2021, a UBS registered representative sold fixed annuity products offered by a third party–which happened to be an entity formed by a college friend and business acquaintance of the representative–to 30 UBS customers.
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.
2025-07-02T18:31:00Z By Aaron Nicodemus
Emerging enforcement priorities of the U.S. Department of Justice’s health care fraud division align with the Trump administration’s emphasis on prosecuting transnational criminal organizations and ending opioid trafficking.
2025-07-01T23:26:00Z By Oscar Gonzalez
Since President Donald Trump took office, the U.S. Federal Trade Commission has yet to keep up the level of enforcement it had under previous chair Lina Khan. The agency, however, returned to antitrust action in the case of fuel stations, just in time for the July 4th holiday.
2025-06-25T16:29:00Z By Oscar Gonzalez
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.
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