By Aaron Nicodemus2023-04-26T18:00:00
Mizuho Capital Markets (MCM) agreed to pay more than $6.8 million to settle charges from the Commodity Futures Trading Commission (CFTC) it failed to adequately disclose its pre-trade activity on certain foreign exchange forward transactions that disadvantaged its customers.
The CFTC said Tuesday in a press release the conduct of MCM, a New York-based swap dealer, constituted trade practice violations of the swap dealer business conduct standards in the Commodity Exchange Act and agency regulations.
Without admitting or denying the CFTC’s allegations, MCM agreed to pay a $5 million fine, more than $1.8 million in restitution to affected customers, and to cease and desist from future violations.
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Government healthcare services corporation Maximus settled with the Securities and Exchange Commission for allegedly failing to disclose an executive’s two siblings were also employed by the company and received annual compensation of more than $120,000.
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Goldman Sachs will pay a $15 million fine to settle charges from the Commodity Futures Trading Commission it manipulated the execution of same-day swaps to the detriment of unsophisticated clients and for failing to accurately disclose the actual cost of those swaps.
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Options Clearing Corp. agreed to pay $22 million as part of settlements with the Securities and Exchange Commission and Commodity Futures Trading Commission addressing charges the company failed to comply with internal rules to manage risks.
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The Federal Trade Commission filed a complaint against LA Fitness’ parent companies, citing difficulties canceling memberships, a month after a court blocked the agency’s click-to-cancel rule.
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CVS’s Caremark division knowingly overcharged Medicare for prescription drugs and must pay nearly $290 million, a Pennsylvania federal judge has ordered.
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The owner of a water machine vending company and a portfolio manager were allegedly behind a Ponzi-like scheme that raised more than $275 million, according to the U.S. Securities and Exchange Commission.
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