- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2022-12-14T17:10:00
New York-based brokerage firm J.H. Darbie & Co. was charged with violations of anti-money laundering (AML) provisions of federal securities laws by the Securities and Exchange Commission (SEC) for failing to report suspicious activity regarding penny stock transactions.
J.H. Darbie failed to report suspicious activity on “tens of billions” of shares of low-priced securities, also known as penny stocks, from 2018-20, according to the SEC’s complaint filed Monday.
J.H. Darbie accepted for deposit the low-priced securities of approximately 160 issuers reflected in approximately 1,800 deposits at one of its clearing brokers and the further processing of approximately $105 million in net transaction proceeds to customers through approximately 12,000 sale transactions involving 30 billion shares of such issuers, the complaint said.
2023-09-25T17:34:00Z By Kyle Brasseur
New York-based brokerage firm J.H. Darbie & Co. consented to pay a $125,000 penalty to resolve charges levied by the Securities and Exchange Commission that the firm failed to report suspicious activity regarding penny stock transactions.
2023-03-06T20:16:00Z By Jeff Dale
Cambria Capital agreed to pay $100,000, hire an independent anti-money laundering consultant, and be censured for failing to file suspicious activity reports on certain transactions over a two-year period, according to the Securities and Exchange Commission.
2025-07-01T23:39:00Z By Oscar Gonzalez
The Department of Government Efficiency (DOGE) has a new target, and this time it won’t be just firing federal workers. The agency formed by Tesla CEO Elon Musk at the start of the Trump administration wants to roll back more regulations.
2025-07-01T23:26:00Z By Oscar Gonzalez
Since President Donald Trump took office, the U.S. Federal Trade Commission has yet to keep up the level of enforcement it had under previous chair Lina Khan. The agency, however, returned to antitrust action in the case of fuel stations, just in time for the July 4th holiday.
2025-06-25T16:29:00Z By Oscar Gonzalez
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.
2025-06-19T19:28:00Z By Ruth Prickett
Fraud now accounts for around 40% of all crime in the U.K., posing a major problem for banks and consumers. Ted Datta, head of industry practice for financial crime compliance at Moody’s, warns that the risk is growing fast.
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