By Aaron Nicodemus2024-07-30T15:43:00
The Financial Industry Regulatory Authority (FINRA) ordered Western International Securities to pay $1.5 million for failing to implement a supervisory system to detect and respond to excessive trading, the firm’s fifth consent order with the regulator since 2019.
California-based Western will pay a $475,000 fine and $1 million in restitution, plus interest, to settle the allegations, according to FINRA’s order, published Monday.
Factors that should be considered to detect excessive trading include “the cost-to-equity ratio, turnover rate, and the use of in-and-out trading in a customer’s account,” FINRA said in its order.
2024-07-11T19:04:00Z By Aaron Nicodemus
UBS Financial Services, a subsidiary of the Swiss banking giant UBS, has been fined $850,000 for failing to properly monitor transactions between its broker-dealers and third parties.
2024-05-30T18:41:00Z By Aaron Nicodemus
The Financial Industry Regulatory Authority fined a Bank of America subsidiary $90,080 for filing untimely or inaccurate notifications related to security distributions and failing to adopt an adequate supervisory system.
2024-05-10T16:55:00Z By Kyle Brasseur
Merrill Lynch was assessed an $825,000 penalty by the Financial Industry Regulatory Authority for alleged supervision failures regarding the execution of marketable equity orders entered into its electronic order systems.
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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