- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-08-17T18:26:00
Goldman Sachs agreed to pay $425,000 as part of a settlement with the Financial Industry Regulatory Authority (FINRA) addressing allegations of reporting and supervision violations regarding more than 1 million over-the-counter (OTC) options positions.
The bank failed to report or inaccurately reported OTC options positions to the large options positions reporting (LOPR) system in violation of FINRA Rule 2360(b)(5), according to the self-regulatory organization’s disciplinary action published Wednesday. Goldman neither admitted nor denied FINRA’s findings.
Between July 2018 and September 2021, Goldman’s systems for reporting OTC options positions “failed to recognize that the accounts of certain customers were under common control or acting in concert,” according to FINRA. These alleged lapses affected 1,035,000 positions.
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2023-10-04T20:35:00Z By Jeff Dale
Santander U.S. Capital Markets agreed to pay $100,000 to settle allegations by the Financial Industry Regulatory Authority regarding supervision failures related to misuse of material nonpublic information.
2023-09-22T18:24:00Z By Kyle Brasseur
Miami-based broker-dealer Citadel Securities was fined $7 million as part of a settlement with the Securities and Exchange Commission addressing mismarked short and long sales caused by a coding error in the firm’s automated trading system.
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Goldman Sachs & Co. was assessed a $6 million penalty by the Securities and Exchange Commission as part of a settlement in which the financial institution admitted it submitted incomplete and inaccurate securities trading information affecting at least 163 million transactions.
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The Federal Trade Commission (FTC) filed a lawsuit against Uber, alleging the ride-hailing company signed customers up for its Uber One subscription without consent, then made it hard for them to cancel. The move marks the U.S. government’s latest broadside against big tech companies, and the first major action from ...
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The U.S. Consumer Financial Protection Bureau continues to unravel amid pressure from Trump administration officials to shutter the agency. Not only has the agency informed its employees that it will no longer be a watchdog for the financial services industry, it has also laid off employees despite court orders blocking ...
2025-04-15T07:30:00Z By Aaron Nicodemus
The Consumer Financial Protection Bureau dropped yet another consumer protection lawsuit against a bank or fintech provider since Donald Trump was sworn in as president in January. This time, it was with Comerica Bank.
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