By Kyle Brasseur2023-12-27T18:24:00
Electronic trading platform Interactive Brokers received a $3.5 million penalty from the Financial Industry Regulatory Authority (FINRA) for multiple alleged violations of the self-regulatory organization’s rules regarding execution and supervision.
FINRA’s disciplinary action published Dec. 22 cited Interactive Brokers for rule violations ranging from January 2014 to February 2023. The firm neither admitted nor denied FINRA’s findings in resolving the matter.
At varying times during the relevant period, Interactive Brokers allegedly failed to:
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The Financial Industry Regulatory Authority fined Goldman Sachs $512,500 for allegedly failing to properly surveil certain types of securities for potential manipulative trading activity for more than a decade.
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Wells Fargo Securities agreed to pay a $425,000 penalty as part of a settlement with the Financial Industry Regulatory Authority addressing allegations of disclosure lapses affecting millions of trade confirmations and related supervisory failures.
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A new report from the Financial Industry Regulatory Authority provides observations from examiners on emerging issues affecting the industry, including surveilling potential use of off-channel communications by employees, crypto-asset developments, cybersecurity trends, and more.
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The U.K. will start cracking down on companies under the new Failure to Prevent Fraud law on Sept. 1, with the Crown Prosecution Service and Serious Fraud Office ready to enforce it.
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The Trump administration has intensified its fight with California as the DOJ launched an investigation into whether the state’s environmental agency is violating federal law by pursuing racial equity.
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Synapse Financial Technologies, the troubled California fintech software provider, has agreed to let the Consumer Financial Protection Bureau (CFPB) eventually file a claim on its bankrupt estate.
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