By Jeff Dale2023-03-06T20:16:00
A Utah-based broker-dealer agreed to pay $100,000, hire an independent anti-money laundering (AML) consultant, and be censured for allegedly failing to file suspicious activity reports (SARs) on certain transactions over a two-year period.
From March 2017 through May 2019, Cambria Capital “failed to properly investigate certain suspicious conduct, failed to investigate certain red flags, and ultimately failed to file SARs when required,” the Securities and Exchange Commission (SEC) said in its order filed Thursday.
During the relevant period, Cambria specialized in the liquidation of microcap securities. With many of these transactions, the pattern of liquidations often occurred in combination with red flags including “unusually large deposits, suspicious wire activity, or multiple accounts simultaneously trading in the same microcap security,” per the SEC.
2024-08-13T16:06:00Z By Aaron Nicodemus
New York-based broker-dealer OTC Link will pay a $1.2 million fine to settle charges levied by the Securities and Exchange Commission over allegedly failing to implement a system to monitor and report potential suspicious activities on its platforms.
2023-08-29T18:23:00Z By Kyle Brasseur
Archipelago Trading Services agreed to pay a $1.5 million penalty as part of a settlement with the Securities and Exchange Commission for allegedly failing to file nearly 500 suspicious activity reports largely related to microcap or penny stock securities transactions.
2023-07-11T17:32:00Z By Kyle Brasseur
Merrill Lynch was assessed penalties totaling $12 million by the Securities and Exchange Commission and Financial Industry Regulatory Authority for allegedly failing to file nearly 1,500 required suspicious activity reports over the course of a decade.
2025-10-08T18:28:00Z By Adrianne Appel
Charlie Javice, a former CEO who duped JPMorgan Chase into purchasing her start up company for $175 million, has been ordered to forfeit more than $22 million by the Department of Justice (DOJ) and to spend 7 years in jail.
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.
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