DFSA fines Enness Limited US$105,000 for engaging in unauthorised activity LeapRate

February 25, 2020 BY Valentina Kirilova

DFSA fines Enness Limited US$105,000 for engaging in unauthorised activity

The Dubai Financial Services Authority (DFSA) has just announced that it has fined the company Enness Limited (Enness DIFC) USD 105,000 (approximately AED 386,000) for engaging in unauthorised activity outside the scope of its Representative Office DFSA Licence. As a Representative Office, Enness DIFC is only permitted to carry out a narrow set of activities…

January 22, 2020 BY Valentina Kirilova

FCA fines Hall and Hanley Limited £91,000

The UK regulator FCA announced earlier today that it has imposed a financial penalty in the sum of £91,000 to the company Hall and Hanley Limited (HHL). HHL is a claims management company (CMC) whose registered address was formerly 1st Floor, Building 4, Universal Square, Devonshire Street North, Manchester M12 6JH. With effect from 1…

January 14, 2020 BY Valentina Kirilova

CySEC fines Solid Financial Services Limited €10,000

Cyprus regulator CySEC has yesterday announced that it has decided to impose a total fine of €10.000 to the company Solid Financial Services Limited. The company did not ensure that the details regarding derivative contracts concluded were reported to a trade repository. Solid Financial Services Limited has also provided a false statement regarding its reporting…

November 21, 2019 BY Valentina Kirilova

UK FCA fines Henderson Investment Funds Limited £1,867,900

UK Financial Conduct Authority (FCA) has announced yesterday that it has fined Henderson Investment Funds Limited (HIFL) £1,867,900. The company failed to treat fairly more than 4,500 retail investors in two of its funds: Henderson Japan Enhanced Equity Fund and Henderson North American Enhanced Equity Fund (the Japan and North American Funds). Back in 2011,…

July 30, 2019 BY Valentina Kirilova

Principal of binary options trading firm fined $200,000 for illegal off-exchange trading

The U.S. Commodity Futures Trading Commission (CFTC) has informed the public yesterday that it has required Curtis Dalton of Middleton, Massachusetts to pay $200,000 for offering illegal off-exchange retail commodity transactions to U.S. and overseas customers while failing to be registered by the CFTC as required. Dalton offered transactions, which consisted of binary options in…

July 17, 2019 BY Valentina Kirilova

AR Capital LLC charged with wrongfully obtaining millions of dollars

The Securities and Exchange Commission (SEC) has yesterday informed the public that it has charged AR Capital LLC, its founder Nicholas S. Schorsch, and its former CFO Brian Block with wrongfully obtaining millions of dollars in connection with two separate mergers between real estate investment trusts (REITs) that were sponsored and externally managed by AR…

July 16, 2019 BY Valentina Kirilova

Nomura pays misled bond clients $25m after SEC charges

The Securities and Exchange Commission (SEC) has yesterday informed the public that it has instituted two related enforcement actions against Nomura Securities International Inc. The Japanese financial holding company has agreed to repay approximately $25 million to customers for its failure to adequately supervise traders in mortgage-backed securities. Nomura bond traders made false and misleading…

July 15, 2019 BY Valentina Kirilova

ESMA fines the trade repository Regis-TR S.A. €56,000 for data access failures

EU’s securities markets’ regulator ESMA has just informed the public that it has fined the trade repository Regis-TR S.A. €56,000 for negligently failing to provide to regulators direct and immediate access to details of derivative contracts. The European Markets and Infrastructure Regulation (EMIR) requires TRs to provide derivative contracts information as well as other data…

May 30, 2019 BY Valentina Kirilova

China Merchants Securities (HK) Co. Limited fined $5 million for mishandling client money

The Hong Kong Securities and Futures Commission (SFC) informed that it has reprimanded China Merchants Securities (HK) Co., Limited (China Merchants). The regulator has also fined the company $5 million for regulatory breaches and internal control failings related to mishandling of client money. 800 incidents happened between 1 October 2011 to 30 September 2014, where…

May 29, 2019 BY Valentina Kirilova

NSSC fines FPE Trading $165,000

The Nova Scotia Securities Commission announced earlier today that it has ordered Jean-Smaille Germeil and FPE Trading to pay an administrative penalty of $150,000, as well as to cover all the costs in connection with the investigation and conduct of this proceeding before the Commission in the amount of $15,000. Germeil and FPE Trading have repeatedly…

Category: Fines