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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-08-29T18:23:00
A Chicago-based broker-dealer agreed to pay a $1.5 million penalty as part of a settlement with the Securities and Exchange Commission (SEC) for allegedly failing to file nearly 500 suspicious activity reports (SARs) largely related to microcap or penny stock securities transactions.
Archipelago Trading Services operates an over-the-counter (OTC) alternative trading system (ATS) for equity securities used by broker-dealers to execute trades. The SEC faulted the firm for not properly supervising high-risk securities transactions it executed daily over an eight-year span, the agency said in a press release Tuesday.
Beginning in August 2012, Archipelago operated its ATS, known as Global OTC, without a reasonably designed anti-money laundering (AML) surveillance program for its transactions, according to the SEC’s order. It wasn’t until September 2020 that the firm established proper AML policies and procedures for tracking transactions.
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2024-05-22T19:30:00Z By Adrianne Appel
Intercontinental Exchange and nine affiliates agreed to pay $10 million for allegedly failing to inform the Securities and Exchange Commission of a cyber intrusion as required by Regulation Systems Compliance and Integrity.
2023-10-02T19:42:00Z By Kyle Brasseur
New York-based broker-dealer Maxim Group agreed to pay an $800,000 fine in settling with the Securities and Exchange Commission regarding the firm’s alleged failures to file required suspicious activity reports and properly execute certain short sales.
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.
2024-07-26T19:18:00Z By Jeff Dale
RTX Corp., the parent company of Raytheon, disclosed in a public filing it has reserved $1.24 billion to resolve legacy legal matters with the Department of Justice, Securities and Exchange Commission, and Department of State.
2024-07-26T15:51:00Z By Aaron Nicodemus
The U.K. Financial Conduct Authority issued a fine of $4.5 million (3.5 million pounds) against a U.K.-based subsidiary of crypto platform Coinbase for providing services to high-risk customers in violation of FCA rules.
2024-07-26T13:36:00Z By Adrianne Appel
Admera Health agreed to pay more than $5.5 million to resolve allegations first brought by two whistleblowers that it paid kickbacks to third-party contractors, the Department of Justice said.
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