By Jeff Dale2023-09-07T19:27:00
A New Jersey-based broker-dealer and its chief compliance officer agreed to pay approximately $740,000 combined, plus interest, as part of a settlement with the Financial Industry Regulatory Authority (FINRA) addressing alleged Regulation Best Interest (Reg BI) compliance failures.
Network 1 Financial Securities will pay a $200,000 fine, approximately $534,000 in restitution, and be censured, according to a FINRA consent order filed Aug. 31.
The firm’s CCO, Michael Molinaro, will pay a $5,000 fine and be banned for three months from association with any FINRA member in all principal capacities, per the order. The self-regulatory organization noted this is Molinaro’s second such suspension, after a 45-day ban in 2015 for alleged supervision failures.
2024-02-19T16:00:00Z By Kyle Brasseur
A subsidiary of the Teachers Insurance and Annuity Association of America agreed to pay more than $2.2 million as part of a settlement with the Securities and Exchange Commission for not acting in the best interest of its retail customers regarding their retirement accounts.
2023-11-21T16:56:00Z By Kyle Brasseur
Registered broker-dealer Laidlaw and Company agreed to pay more than $800,000 as part of a settlement with the Securities and Exchange Commission addressing multiple alleged violations of Regulation Best Interest.
2023-09-25T18:57:00Z By Jeff Dale
Wisconsin-based broker-dealer Carl M. Hennig agreed to pay a $50,000 fine to settle allegations by the Securities and Exchange Commission it failed to comply with Regulation Best Interest.
2025-07-29T18:30:00Z By Ian Sherr
Chip design software and hardware maker Cadence Design Systems agreed to plead guilty to unlawfully exporting semiconductor design tools to a restricted Chinese military university, the Department of Justice said in a statement. The California firm will pay over $140 million in criminal and civil pines and forfeitures, marking the ...
2025-07-29T17:34:00Z By Oscar Gonzalez
The Department of Justice fired two officials who were part of its antitrust division on Monday. The move, reported by CBS News, marks the latest effort from the Trump administration to ease regulations for companies and rollback of antitrust enforcement.
2025-07-29T16:04:00Z By Adrianne Appel
A Florida wireless company and its chief executive officer will pay more than $128 million to settle civil and potential criminal allegations that they defrauded a federal low-income telecommunications program, according to the Department of Justice.
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