- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2024-10-01T15:38:00
Broker-dealer TD Securities failed to prevent a trader from placing and then withdrawing thousands of false trades over the course of a year in part because its compliance department failed to follow up on red flags generated by the illegal trades, three regulators said.
TD Securities (TDS), a subsidiary of TD Bank, failed to prevent the head of its securities desk in New York from spoofing the U.S. Treasury cash securities market for 13 months between 2018-19.
The trader, Jeyakumar Nadarajah, is accused of entering false orders on one side of the market to obtain more favorable execution prices on the other side. In November 2023, he was indicted in U.S. District Court for the District of New Jersey for his role in the scheme and is awaiting trial.
2025-01-13T17:32:00Z By Aaron Nicodemus
A broker-dealer subsidiary of Toronto-based BMO Financial Group will pay nearly $41 million in penalties to the Securities and Exchange Commission to settle allegations that its traders issued misleading disclosures on bonds for three years, causing $19 million in harm to its customers.
2024-12-16T14:45:00Z By Aaron Nicodemus
New York-based SeaCrest Wealth Management will pay a $375,000 fine for failing to properly prevent a cherry-picking scheme perpetrated by one of its investment advisers.
2024-09-13T13:09:00Z By Adrianne Appel
TD Bank has been ordered to pay $27.7 million and implement compliance measures, for providing inaccurate, negative credit information to credit agencies about tens of thousands of its customers and taking too long to fix the errors, the Consumer Financial Protection Bureau said.
2025-07-02T18:31:00Z By Aaron Nicodemus
Emerging enforcement priorities of the U.S. Department of Justice’s health care fraud division align with the Trump administration’s emphasis on prosecuting transnational criminal organizations and ending opioid trafficking.
2025-07-01T23:26:00Z By Oscar Gonzalez
Since President Donald Trump took office, the U.S. Federal Trade Commission has yet to keep up the level of enforcement it had under previous chair Lina Khan. The agency, however, returned to antitrust action in the case of fuel stations, just in time for the July 4th holiday.
2025-06-25T16:29:00Z By Oscar Gonzalez
In May, three commissioners for the Consumer Product Safety Commission were abruptly fired by President Donald Trump and sued for their jobs shortly after. A federal judge has ruled that the commissioners should be reinstated, although it’s unclear whether that ruling may itself be reversed.
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