By Adrianne Appel2022-12-16T19:50:00
An equity trader unlawfully disclosed inside, nonpublic information about upcoming trades and fed it to a retired professional trader, resulting in $47 million in illegal gains, the Securities and Exchange Commission (SEC) said in announcing fraud charges against the pair Wednesday.
In a parallel action, the Department of Justice (DOJ) is pursuing criminal charges against the duo: Lawrence Billimek, an equity trader who since 2012 has worked for an asset manager in New York that handles about $283 billion in client funds, and day trader Alan Williams.
Williams, 77, is a retired head equity trader who last worked at a large firm. He had been working in the securities industry since 1971.
2025-09-12T21:33:00Z By Oscar Gonzalez
AI chatbots are increasingly used by children and teens, prompting the FTC to order seven AI companies to explain how they monitor potential harms to minors.
2025-09-12T19:40:00Z By Oscar Gonzalez
The DOJ sued Uber Thursday, alleging it violated the Americans with Disabilities Act (ADA) by denying people with disabilities equal access to its services.
2025-09-11T20:53:00Z By Neil Hodge
Europe’s banking regulator warns that weak compliance at fintech, regtech, and crypto firms may let money laundering and terrorist financing risks slip through. The EBA also found EU regulators’ approaches are often inconsistent and unclear.
2025-09-10T22:24:00Z By Adrianne Appel
California, Colorado, and Connecticut launched a joint enforcement sweep against businesses that fail to honor consumers’ online opt-out requests, the states announced Tuesday.
2025-09-09T16:51:00Z By Oscar Gonzalez
A Houston-based freight forwarder, Fracht FWO Inc., will pay $1.6 million for violating U.S. sanctions tied to Venezuela and Iran, according to the Treasury Department’s Office of Foreign Assets Control (OFAC). The fine comes as OFAC ramps up enforcement in recent months.
2025-09-08T14:27:00Z By Adrianne Appel
BNY, Citigroup, Santander, UBS, and two other financial institutions paid a total of $8.3M to settle separate compliance violations with the CFTC.
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