- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2023-09-12T20:28:00
A New York-based investment adviser agreed to pay $100,000 to settle allegations levied by the Securities and Exchange Commission (SEC) it failed to adopt and implement written compliance policies and procedures, conduct annual reviews, and establish and enforce a code of ethics.
Mortgage Industry Advisory Corp. (MIAC) also agreed to cease and desist from further violations and a censure in reaching settlement, the SEC announced in an administrative proceeding Monday.
In 2006, MIAC received a notice from the SEC’s Division of Examinations regarding alleged deficiencies in its employee handbook. The guidance was “primarily geared to internal human resources policies” and was not designed to prevent employees from violating federal securities laws, the SEC’s order stated.
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California-based investment adviser American Infrastructure Funds agreed to pay more than $1.6 million to settle charges by the Securities and Exchange Commission regarding multiple breaches of its fiduciary duty to clients.
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.
Nine investment advisers agreed to pay a total of $850,000 in penalties across separate settlements with the Securities and Exchange Commission addressing alleged violations of the agency’s amended marketing rule.
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
