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.
2025-10-28T21:11:00Z By Adrianne Appel
Senate Democrats warned OMB Director Russell Vought Tuesday that it would be illegal for the Trump administration to shut down the Consumer Financial Protection Bureau, citing a recent court decision barring actions that could severely harm the agency.
2025-10-23T20:36:00Z By Jaclyn Jaeger
It has been nearly six months now since the Department of Justice’s (DOJ) Criminal Division released its memorandum on the selection of compliance monitors. This article provides a critical analysis of the monitorships that received early terminations, those that remain in place, and the broader compliance lessons they impart.
2025-10-23T20:07:00Z By Oscar Gonzalez
The founder of crypto exchange Binance, Changpeng Zhao, received a pardon from President Donald Trump. This pardon comes almost two years after Zhao signed a plea agreement and was sentenced to a four-month prison sentence.
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