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.
2025-10-08T18:28:00Z By Adrianne Appel
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.
2025-10-07T16:08:00Z By Adrianne Appel
Georgia Tech Research Corp. (GTRC) has agreed to pay $875,000 to settle allegations first raised by two compliance officers that its cybersecurity protocols violated acceptable standards for defense contractors, the Department of Justice (DOJ) said.
2025-10-06T17:12:00Z By Adrianne Appel
Tractor Supply Company has agreed to get into compliance with California’s consumer privacy law and to pay a $1.35 million fine—the largest yet by California—to settle allegations it violated the privacy rights of customers and job applicants.
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