By Kyle Brasseur2023-11-21T16:56:00
Registered broker-dealer Laidlaw and Company agreed to pay more than $800,000 as part of a settlement with the Securities and Exchange Commission (SEC) addressing multiple alleged violations of Regulation Best Interest (Reg BI).
Laidlaw, which is based in the United Kingdom, with offices in the United States, was fined approximately $223,000 and agreed to pay about $548,000 in disgorgement and $52,000 in prejudgment interest, the SEC announced in an administrative proceeding Monday. The firm was faulted for running afoul of Reg BI’s care and compliance obligations.
Two registered representatives at the firm, Richard Michalski and Michael Murray, also agreed to settlements with the SEC alleging violations of Reg BI. Michalski agreed to pay more than $100,000 in penalties, disgorgement, and interest, while Murray’s total payments fell short of $50,000.
2024-09-18T18:53:00Z By Aaron Nicodemus
First Horizon Advisors will pay a $325,000 fine to settle allegations from the Securities and Exchange Commission that it violated Regulation Best Interest in part due to issues with incorporating a merged firms’ accounts into its systems.
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.
2023-09-29T14:51:00Z By Kyle Brasseur
Citigroup Global Markets and Citi International Financial Services agreed to pay a total of nearly $2 million as part of a settlement with the Securities and Exchange Commission resolving allegations they violated the disclosure obligations of Regulation Best Interest.
2025-10-07T16:08:00Z By Adrianne Appel
Georgia Tech Research Corp. (GTRC) has agreed to pay $875,000 to settle allegations first raised by two compliance officers that its cybersecurity protocols violated acceptable standards for defense contractors, the Department of Justice (DOJ) said.
2025-10-06T17:12:00Z By Adrianne Appel
Tractor Supply Company has agreed to get into compliance with California’s consumer privacy law and to pay a $1.35 million fine—the largest yet by California—to settle allegations it violated the privacy rights of customers and job applicants.
2025-10-06T16:46:00Z By Aly McDevitt
A single $33,000 shipment to Iran triggered a six-figure penalty and years of compliance oversight for biotechnology company LuminUltra Technologies, Inc.
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