Cyprus regulator CySEC has just announced that it has decided to impose a total administrative fine of €170.000 to CIF Goldenburg Group Ltd. The reason for the fine is noncompliance with provisions of The Investment Services and Activities and Regulated Markets Law of 2007, as was in force (‘the L.144(Ι)/2007’), and of Directive DI 144-2007-02…
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The Cyprus Securities and Exchange Commission (CySEC) has informed the public that it has decided to impose an administrative fine of €30.000 to the company AIFM Bluehouse Investment Advisors Ltd. The fine has been imposed for non compliance with section 16(1) of the Alternative Investment Fund Managers Law of 2013, as in force, as the…
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The Hong Kong Securities and Futures Commission (SFC) announced that it has fined the company Nine Masts Capital Limited $1.2 million for failures relating to the short selling of Yuzhou Properties Company Limited shares in May 2015. Back then, on May 12, 2015, Yuzhou Properties proposed placing of new shares, subject to the fulfilment of…
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The Financial Conduct Authority (FCA) has announced yesterday that it has fined Standard Chartered Bank £102,163,200 for Anti-Money Laundering (AML) breaches. This is the second financial penalty for AML controls failings in less than 5 moths imposed by the regulator. In December 2018, the FCA fined the former Chief Executive Officer of Sonali Bank (UK)…
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The Commodity Futures Trading Commission (CFTC) has just announced that an individual named William H. Powderly IV of New Hope, Pennsylvania, has been fined $1,083,138 by the federal court in Illinois for fraudulently soliciting customers and distributing false account statements. Powderly misled customers, letting them know that he and a university professor developed a commodity futures…
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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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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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The U.S. Commodity Futures Trading Commission (CFTC) today revealed that the U.S. District Court for the Western Division of California’s Central District entered an order granting the CFTC’s submission for a default judgment (Order) accompanied by a judgment aligned with the Order (Judgment) against the accused Jin Choi (Choi), who is a Republic of South…
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Hong Kong’s Securities and Futures Commission (SFC) today issued an official reprimand of BOCI Securities Limited (BSL) and fined the company HK$10 million due to its internal controls and systems failures in the selling of its investment products. The disciplinary measures issued by the SFC followed an official investigation where it was discovered that BSL…
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The Securities and Exchange Commission (SEC) revealed that BB&T Securities has finally agreed to reimburse over $5 million to individual investors and to pay a $500,000 fine as part of a settlement for charges that a company it acquired deceived its clients that they were being given all brokerage services by an in-house team at…
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