The Disciplinary Committee of Nasdaq Stockholm informed that it has found that Sandvik AB (“Sandvik” or “the Company”) has breached Nasdaq Stockholm’s Rule Book for Issuers (“the Rule Book”) and, accordingly, has imposed a fine on Sandvik amounting to one annual fee, corresponding to an amount of SEK 3,105,000. The Disciplinary Committee has found that…
Read more
The Financial Industry Regulatory Authority (FINRA) announced it has fined Citigroup Global Markets Inc. (CGMI) $5.5 million and required the firm to pay at least $6 million in compensation to retail customers for displaying inaccurate research ratings for numerous equity securities during a nearly five-year period, and for related supervisory violations. An equity research rating…
Read more
The Financial Industry Regulatory Authority (FINRA) announced today that it has fined J.P. Morgan Securities $2.8 million for violating the Securities and Exchange Commission’s (SEC) Customer Protection Rule and for related supervisory failures. The SEC rule creates requirements to protect customers' funds and securities. To ensure that customers could recover their assets in the event…
Read more
The Commodity Futures Trading Commission (CFTC) announced that it has obtained three related Consent Orders of Permanent Injunction against Defendants Mintco LLC of Delray Beach, Florida, and its owners Stuart Rubin of Fort Lauderdale, Florida, and Richard Q. Zimmerman of Wellington Florida, finding that all Defendants engaged in illegal off-exchange precious metals transactions and further…
Read more
The Cyprus Securities and Exchange Commission (CySEC) has announced that it has imposed an administrative financial penalty on Reliantco Investments Ltd., an investment firm which operates the UFX.com online Retail FX and CFDs brand. A sum of €95,000 has been imposed on the company for multiple compliance failings that breached the policies and procedures CySEC…
Read more
The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Merrill Lynch, Pierce, Fenner & Smith Incorporated $1.4 million for failing to establish a reasonable supervisory system and procedures to identify and evaluate extended settlement transactions, and for related rule violations. Extended settlement transactions have a longer time between trade and settlement than…
Read more
The Board of the Cyprus Securities and Exchange Commission (CySEC) announced that it has decided to impose a total administrative fine of €50,000 to CIF Centralspot Trading Ltd for non-compliance with: Section 28(1) of the Investment Services and Activities and Regulated Markets Law of 2007, as amended from time to time (‘the Law’), as it…
Read more
The Financial Conduct Authority (FCA) informed that it has today fined Tejoori Limited (Tejoori) £70,000 for failing to inform the market of inside information as required by Article 17(1) of the Market Abuse Regulation (MAR). This is the first fine the FCA has imposed on an AIM company for late disclosure following the introduction of…
Read more
Interactive Brokers LLC ('Interactive') has paid a penalty of $250,000 to comply with an infringement notice given to it by the Markets Disciplinary Panel ('the MDP'), ASIC informed earlier today. The MDP found it had reasonable grounds to believe that Interactive had breached the ASIC Market Integrity Rules (Chi-X Australia Market) 2011 which: prohibit a…
Read more
The Securities and Futures Commission (SFC) informed that it has reprimanded and fined FXCM Asia Limited (HK FXCM) (now known as Rakuten Securities Hong Kong Limited) HK$2 million for regulatory breaches and internal control failings relating to under-segregation of client money. The SFC’s investigation found that from January 2013 to January 2015, HK FXCM under-segregated…
Read more