Category: Fines

brexit gbp
March 28, 2019 BY Valentina Kirilova

Goldman Sachs International fined £34.3 million for transaction reporting failures

The UK Financial Conduct Authority (FCA) just announced that it has fined the company Goldman Sachs International (GSI) £34,344,700 for failing to provide accurate and timely reporting relating to 220.2 million transaction reports between November 2007 and March 2017. Mark Steward, FCA Executive Director of Enforcement and Market Oversight commented: The failings in this case demonstrate…

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fca fine
March 19, 2019 BY Valentina Kirilova

UBS AG fined £27.6m by the UK FCA

Swiss multinational investment bank and financial services company UBS AG has been fined £27,599,400 by the UK financial regulator the Financial Conduct Authority (FCA). The company failed relating to 135.8 million transaction reports between November 2007 and May 2017. Mark Steward, FCA Executive Director of Enforcement and Market Oversight said: Firms must have proper systems…

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SFC fines
February 22, 2019 BY Valentina Kirilova

Tulving Company fined $15.8m, Director with a lifetime trading ban

The U.S. Commodity Futures Trading Commission (CFTC) revealed that U.S. District Court Judge Robert J. Conrad Jr. of North Carolina’s Western District had agreed to a Supplemental Order against Californian Resident Hannes Tulving and his firm The Tulving Company, Inc., on charges that they solicited customers on fraudulent claims related to precious metals trading, after…

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fca fine
February 05, 2019 BY Valentina Kirilova

Former fund manager at Newton Investment Management Ltd fined £32,200

UK financial regulator Financial Conduct Authority (FCA) has announced that it has fined Paul Stephany, a former fund manager at Newton Investment Management Limited, £32,200 for his conduct in relation to an Initial Public Offering (IPO) and a placing. Stephany risked undermining the integrity of the market and the book build by trying to use their collective…

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DFSA fines individual US$52,500
January 28, 2019 BY Valentina Kirilova

DFSA fines individual US$52,500

The Dubai Financial Services Authority (DFSA) has just announced that it has just fined an individual US$52,500 (AED192, 675) and restricted him from performing any function in connection with the provision of Financial Services in or from the DIFC. Mr Andrew John Grimes did not challenge the DFSA’s findings against him back in 2017 and 2018 and did not…

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Morgan Stanley fined $10m for AML program
December 27, 2018 BY Valentina Kirilova

Morgan Stanley fined $10m for AML program

FINRA, a not-for-profit organization dedicated to investor protection and market integrity, has announced that it has fined Morgan Stanley Smith Barney LLC $10 million for anti-money laundering (AML) program and supervisory failures that spanned a period of more than five years. Susan Schroeder, FINRA Executive Vice President, Department of Enforcement, commented on the news: As…

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