By Jeff Dale2023-09-18T20:32:00
A registered representative at an unnamed brokerage firm will pay $20,000 to settle charges by the Securities and Exchange Commission (SEC) that he failed to notify the firm’s anti-money laundering (AML) department of apparent suspicious transactions linked to an acquisition announcement.
Pierre Economacos agreed to cease and desist from further violations in reaching settlement, the SEC announced in an administrative proceeding Monday. He neither admitted nor denied the agency’s findings.
Two Republican commissioners dissented in the case, arguing the alleged suspicious activity Economacos failed to report was repayment of a loan.
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.
2023-10-02T19:42:00Z 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.
2025-08-21T18:58:00Z By Oscar Gonzalez
The Federal Trade Commission filed a complaint against LA Fitness’ parent companies, citing difficulties canceling memberships, a month after a court blocked the agency’s click-to-cancel rule.
2025-08-20T21:22:00Z By Adrianne Appel
CVS’s Caremark division knowingly overcharged Medicare for prescription drugs and must pay nearly $290 million, a Pennsylvania federal judge has ordered.
2025-08-18T14:12:00Z By Oscar Gonzalez
The owner of a water machine vending company and a portfolio manager were allegedly behind a Ponzi-like scheme that raised more than $275 million, according to the U.S. Securities and Exchange Commission.
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