Category: Fines

SFC fines
September 12, 2017 BY LeapRate Staff

C.L. King & Associates fined $750,000 around AML failures related to 'Death Put' investments

The U.S.  Financial Industry Regulatory Authority (FINRA) announced today that a FINRA extended hearing panel censured Albany, NY-based broker-dealer C.L. King & Associates, Inc. and fined the firm $750,000 for negligently making material misrepresentations and omissions to issuers in connection with the firm’s redemptions of debt securities on behalf of a hedge fund customer. The…

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insider trading
September 07, 2017 BY LeapRate Staff

Amazon employee and college frat brother charged with Insider Trading ahead of AMZN results

The U.S. Securities and Exchange Commission today announced insider trading charges against a former Amazon.com, Inc. (NASDAQ:AMZN) financial analyst who allegedly leaked confidential information to his former fraternity brother in advance of a company earnings announcement so they could turn an illegal profit. The college friend and his trading partner also are charged in the…

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State Street Corp offices
September 07, 2017 BY LeapRate Staff

State Street pays $35 million to settle charges of secret markups on its trading platform

The U.S. Securities and Exchange Commission today announced that State Street Corp (NYSE:STT) has agreed to pay more than $35 million to settle charges that it fraudulently charged secret markups for transition management services and separately omitted material information about the operation of its platform for trading U.S. Treasury securities. An SEC order finds that…

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DFSA
September 06, 2017 BY Valentina Kirilova

CFTC fines W Resources LLC $150,000 for registration violations

The U.S. Commodity Futures Trading Commission (CFTC) announced that today entered an Order requiring Dallas, Texas-based W Resources, LLC (W Resources) to pay a $150,000 civil monetary penalty for acting as a Commodity Pool Operator (CPO) without registering with the CFTC and to cease and desist from further violating the Commodity Exchange Act (CEA), as…

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August 24, 2017 BY LeapRate Staff

Unique Forex, White Cloud Mountain, Blackbox Pulse and their owners charged with Forex fraud

The U.S. Commodity Futures Trading Commission (CFTC) has announced that it has filed a civil enforcement action against defendants Thomas Lanzana (doing business as Unique Forex) currently of Pawleys Island, South Carolina and his company Blackbox Pulse, LLC of North Bergen, New Jersey, as well as Nikolay Masanko and his company White Cloud Mountain, LLC, both of St. Augustine, Florida, charging…

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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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