Category: Charges

KPMG accountants charged steal test
January 22, 2018 BY LeapRate Staff

Six CPAs charged with 'Stealing the Exam' ahead of KPMG audit inspections

The U.S. Securities and Exchange Commission has announced charges against six certified public accountants, including former staffers at the Public Company Accounting Oversight Board (PCAOB) and former senior officials at KPMG LLP, arising from their participation in a scheme to misappropriate and use confidential information relating to the PCAOB's planned inspections of KPMG. The SEC's…

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asic bans
January 18, 2018 BY Valentina Kirilova

ASIC bans former Commonwealth Financial Planning adviser for 5 years

ASIC announced that it has banned Kimberley Holgate, of Wagga Wagga, NSW, from providing financial services for five years. Ms Holgate was an authorised representative of Commonwealth Financial Planning Limited (CFPL) from January 2014 to October 2015. ASIC found that Ms Holgate: engaged in conduct that was likely to mislead by cutting clients' signatures from…

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January 15, 2018 BY Valentina Kirilova

Barclays trader outlines use of Last Look FX and Toxic Clients

Barclays Plc (LON:BARC) has fired managing director David Fotheringhame after an order from the Department of Financial Services (New York regulator) two years ago, Bloomberg reported.  Fotheringhame was sacked after a $150 million settlement between Barclays and the New York’s banking regulator. The agency had told the bank in 2015 to “take all steps necessary”…

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CFTC offices
January 15, 2018 BY Valentina Kirilova

CFTC charges Blue Guru Trading LLC with commodity pool fraud

The Commodity Futures Trading Commission (CFTC) announced the filing of a civil enforcement action on January 12, 2018, in the U.S. District Court for the Northern District of Illinois, charging Defendants Richard D. Carter of Mundelein, Illinois, Mark R. Slobodnik of Libertyville, Illinois, and their company Blue Guru Trading, LLC (Blue Guru), a Delaware limited…

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UN report says North Korea laundered $2 billion theft via Hong Kong firm
December 08, 2017 BY Valentina Kirilova

SEC charges broker with defrauding investors

The Securities and Exchange Commission (SEC) informed that it has charged a registered representative in Pennsylvania with operating a long-running offering and investment advisory fraud. The SEC’s complaint, filed in federal court in Philadelphia, alleges that Paul W. Smith raised approximately $2.35 million from approximately 30 investors – many of whom were his brokerage customers…

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