Category: Fines

DFSA
August 21, 2017 BY Valentina Kirilova

Banca IMI Securities to pay $35 million for improper handling of ADRs

The Securities and Exchange Commission (SEC) announced that broker Banca IMI Securities Corp. (BISC), an indirect, wholly-owned U.S. subsidiary of Italian bank Intesa Sanpaolo SpA, has agreed to pay more than $35 million to settle charges that it violated federal securities laws when it requested the issuance of and received American Depositary Receipts (ADRs) without…

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DFSA
August 18, 2017 BY Valentina Kirilova

Three companies fined in CFTC precious metals and diamonds anti-fraud action

Slemmer Enterprises, Dorrian Enterprises and Roth Investment Group all part of the Berkley Enterprise that defrauded customers The Commodity Futures Trading Commission (CFTC) announced that Judge William P. Dimitrouleas of the U.S. District Court for the Southern District of Florida entered a Consent Order against Defendants Jeffrey Slemmer of Acton, Massachusetts, Christian Dorrian of Boynton…

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SFC fines
August 16, 2017 BY Valentina Kirilova

Copersucar Trading A.V.V. to pay a $300,000 CFTC fine for executing wash trades on ICE

The U.S. Commodity Futures Trading Commission (CFTC) has issued an Order filing and settling charges against Copersucar Trading A.V.V. (Copersucar), an Aruban corporation and a subsidiary of Copersucar S.A., the world’s largest sugar and ethanol company, based in São Paolo, Brazil, for executing prearranged, noncompetitive wash trades involving Sugar No. 11 futures Trade at Settlement…

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SFC fines
August 15, 2017 BY LeapRate Staff

KPMG to pay $6.2 million SEC fine following audit failures

The U.S. Securities and Exchange Commission today announced that KPMG has agreed to pay more than $6.2 million to settle charges that it failed to properly audit the financial statements of an oil and gas company, resulting in investors being misinformed about the energy company’s value. KPMG’s engagement partner in charge of the audit also…

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SFC fines
August 07, 2017 BY LeapRate Staff

Bank of Tokyo-Mitsubishi UFJ fined for futures Spoofing

The U.S. Commodity Futures Trading Commission (CFTC) has issued an Order filing and settling charges against Mitsubishi UFJ Financial Group Inc (TYO:8306) unit The Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) 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…

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July 31, 2017 BY LeapRate Staff

SEC files fraud charges against four Atlanta area brokers targeting Federal retirees

The U.S. Securities and Exchange Commission today charged four former Atlanta-area brokers with fraudulently inducing federal employees to roll over holdings from their federal Thrift Savings Plan (TSP) retirement accounts into higher-fee, variable annuity products. The four former brokers charged are Christopher S. Laws, Jonathan D. Cooke, Danny S. Hood, and Brandon P. Long. The…

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DFSA
July 28, 2017 BY Valentina Kirilova

Insider dealer ordered to pay $15.6 million to investors

The Court of First Instance has ordered Ms Sun Min to pay the restoration amount of $15,629,341 to 51 investors affected by her insider dealing in China Huiyuan Juice Group Limited (Huiyuan) shares, Hong Kong Securities and Futures Commission (SFC) just announced. The Court order granted on 17 July 2017 was made under section 213(2)(b)…

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Securities and Exchange Commission proposes Transaction Fee Pilot for NMS Stocks
July 28, 2017 BY Valentina Kirilova

Halliburton paying $29.2 million to settle FCPA violations

The Securities and Exchange Commission (SEC) charged Halliburton Company with violating the books and records and internal accounting controls provisions of the Foreign Corrupt Practices Act (FCPA) while selecting and making payments to a local company in Angola in the course of winning lucrative oilfield services contracts. Halliburton, which profited by approximately $14 million from…

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DFSA
July 27, 2017 BY Valentina Kirilova

Licence applicant convicted for providing SFC with false information

The Eastern Magistrates’ Court today convicted Ms Yan Ching Ching after she pleaded guilty to three counts of making false or misleading representations in support of her licence application to the Hong Kong Securities and Futures Commission (SFC). Yan, among other things, failed to disclose her previous criminal convictions in her SFC licence application in…

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