Category: Fines

CySEC fine
October 19, 2018 BY Valentina Kirilova

CySEC fines individual €10.000 for fraud

The Cyprus Securities and Exchange Commission (CySEC) has just informed the public that it decided the imposition of an administrative fine of €10.000 to Mrs Milena Valentinova Christofide. The complete text of the regulator’s decision can be seen below: Announcement date: 19.10.2018 Board decision date: 03.09.2018 Regarding: Mrs Milena Valentinova Christofide Legislation: The Investment Services…

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fca fine
October 04, 2018 BY Valentina Kirilova

Nasdaq Stockholm fines Leading Edge Materials Corp.

The Disciplinary Committee of Nasdaq Stockholm has informed that it has found that Leading Edge Materials Corp. (“LEM” or “the Company”) has breached the Nasdaq First North Nordic Rulebook (the “Rulebook”) and therefore ordered LEM to pay a fine of two annual fees, corresponding to an amount of SEK 146,652. The Disciplinary Committee has concluded…

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CySEC fines
October 03, 2018 BY Valentina Kirilova

CySEC fines the Director of Orphanides Public Company Ltd €5.000

The Cyprus Securities and Exchange Commission (CySEC) has just informed the public that it decided the imposition of an administrative fine of €5.000 to Mr. Christos Filaktou (Director of Orphanides Public Company Ltd). The complete text of the regulator’s decision can be seen below: Announcement date: 03.10.2018 Board decision date: 03.09.2018 Regarding: Mr. Christos Filaktou…

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fca fine
October 01, 2018 BY Valentina Kirilova

FCA fines Tesco Bank £16.4m for failures in 2016 cyber attack

The Financial Conduct Authority (FCA) has just announced that it has fined Tesco Personal Finance plc (Tesco Bank) £16,400,000 for failing to exercise due skill, care and diligence in protecting its personal current account holders against a cyber attack. The cyber attack took place in November 2016. Cyber attackers exploited deficiencies in Tesco Bank’s design…

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fca fine
September 27, 2018 BY Valentina Kirilova

Prime broker Linear Investments disputes £409,300 FCA fine

The Financial Conduct Authority (FCA) has just published a Decision Notice concerning Linear Investments Limited (Linear). Linear failed to take reasonable care to organise and control its affairs responsibly and effectively to ensure potential instances of market abuse could be detected and reported. The failure occurred from 14 January 2013 to 9 August 2015. Linear…

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SFC fines
September 26, 2018 BY Valentina Kirilova

SG Americas Securities fined $800.000 for improper handling of ADRs

The Securities and Exchange Commission (SEC) has announced that SG Americas Securities LLC will pay more than $800,000 to settle charges of improper handling of “pre-released” American Depositary Receipts (ADRs), predominantly by its predecessor entity. In its order against SG Americas, a registered broker-dealer and subsidiary of Paris-based Société Générale S.A., the SEC found that…

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SFC fines
September 24, 2018 BY Valentina Kirilova

CFTC fines Mizuho Bank $250,000

The Commodity Futures Trading Commission (CFTC) has issued an Order filing and settling charges against Mizuho Bank, Ltd. (Mizuho) for engaging in multiple acts of spoofing in a variety of futures contracts on the Chicago Mercantile Exchange and the Chicago Board of Trade, including futures contracts based on United States Treasury notes and Eurodollars. The…

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SFC fines
September 20, 2018 BY LeapRate Staff

CFTC hits Geneva Trading USA with $1.5M fine for Spoofing

The U.S. Commodity Futures Trading Commission (CFTC) announced that it has issued an Order filing and settling charges against Geneva Trading USA, LLC, a proprietary trading firm in Chicago, Illinois, for engaging in the disruptive trading practice of “spoofing.” The Order finds that Geneva engaged in this activity through three of its employees identified in the…

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