Category: Fines

fca fine
December 19, 2017 BY Valentina Kirilova

FINRA fines Merrill Lynch $1.4 million for supervisory deficiencies

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…

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CySEC fine
December 15, 2017 BY Valentina Kirilova

CySEC fines CIF licensed Centralspot Trading Ltd €50.000

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…

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fca fine
December 13, 2017 BY Valentina Kirilova

Hong Kong SFC reprimands and fines FXCM Asia Limited HK$2 million

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…

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DFSA
December 11, 2017 BY Valentina Kirilova

Luxembourg regulator CSSF fines shareholder of Orco Property Group S.A.

The Commission de Surveillance du Secteur Financier (CSSF) informed that it has sanctioned the ultimate and indirect controlling shareholder (the “Sanctioned Person”) of Orco Property Group S.A. (the “Issuer”) for market manipulations on the shares of the Issuer (ISINLU0122624777) in accordance with the provisions of the Law of 9 May 2006 on market abuse (the…

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SFC fines
December 08, 2017 BY Valentina Kirilova

ASP Asoted Services Ltd fined €16,000 by CySEC

The Board of the Cyprus Securities and Exchange Commission (CySEC) wishes to inform the public that, at its meeting held on 25th September 2017, it decided to impose administrative fines totalling €16,000 on ASP Asoted Services Ltd for non-compliance with: Sections 58(a) and 58(c) of The Prevention and Suppression of Money Laundering and Terrorist Financing…

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SFC fines
December 04, 2017 BY Valentina Kirilova

Merrill Lynch Equities (Australia) Ltd fined $140,000 by the MDP

Merrill Lynch Equities (Australia) Limited ('MLEA') has paid a total penalty of $140,000 to comply with an infringement notice given to it by the Markets Disciplinary Panel ('the MDP'), ASIC announced earlier today. The MDP found that between July 2014 and April 2016, MLEA: executed orders contrary to wholesale clients' instructions to opt out of…

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