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.
2025-10-28T21:11:00Z By Adrianne Appel
Senate Democrats warned OMB Director Russell Vought Tuesday that it would be illegal for the Trump administration to shut down the Consumer Financial Protection Bureau, citing a recent court decision barring actions that could severely harm the agency.
2025-10-23T20:36:00Z By Jaclyn Jaeger
It has been nearly six months now since the Department of Justice’s (DOJ) Criminal Division released its memorandum on the selection of compliance monitors. This article provides a critical analysis of the monitorships that received early terminations, those that remain in place, and the broader compliance lessons they impart.
2025-10-23T20:07:00Z By Oscar Gonzalez
The founder of crypto exchange Binance, Changpeng Zhao, received a pardon from President Donald Trump. This pardon comes almost two years after Zhao signed a plea agreement and was sentenced to a four-month prison sentence.
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