The move comes after compensation was paid to consumers under the Compensation Scheme of Last Resort (CSLR). ASIC said Calaite Capital failed to comply with two determinations issued by the Australian Financial Complaints Authority (AFCA) on 8 July and 31 October 2024. The firm did not pay the required compensation, prompting the CSLR to step…
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The penalty was issued under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006. It follows Cointree’s voluntary disclosure that it had not submitted SMRs within the required timeframes. AUSTRAC CEO Brendan Thomas said, “SMRs provide AUSTRAC and our law enforcement partners with information about suspected misuse of the financial system and this information goes on…
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The regulator alleged "repeated and systemic misleading conduct" over more than 14 years relating to short sale reporting. Filed in the New South Wales Supreme Court, the case marks ASIC’s first enforcement action involving short sale reporting. The regulator claims MSAL misreported at least 73 million short sales between December 2009 and February 2024, potentially…
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The failings are said to include inadequate oversight of paid influencers and widespread disclosure lapses affecting millions of clients. FINRA said Webull failed to supervise or retain records of promotional content produced by more than 400 paid social media influencers between January 2019 and December 2022. They add that some of the content contained exaggerated…
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ASIC added that one of the compliance failures went undetected for over a decade. They relate to Macquarie’s futures dealing operations and over-the-counter (OTC) derivatives trade reporting. ASIC’s action requires the bank to develop a remediation plan, appoint an independent expert to review the plan and assess the effectiveness of the remediation in preventing future…
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In a letter of acceptance, waiver, and consent published on May 1, FINRA stated that the firm failed to accurately report statistical and summary information regarding written customer complaints from January 2020 through June 2022, in violation of FINRA Rule 4530. During this period, the regulator said that at least 300 complaints went unreported, including…
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The move follows a compensation payment made by the Compensation Scheme of Last Resort (CSLR). The action stems from Viridian Equity’s failure to comply with three determinations made by the Australian Financial Complaints Authority (AFCA) on 31 October 2024. After the firm failed to pay the required compensation, the CSLR stepped in on 11 March…
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The fine is for violations of block trade regulations, according to the disciplinary notice published by CME Group. In addition to the fine, Gain Global has been ordered to disgorge $449,910 in profits. The penalties stem from findings by NYMEX's Business Conduct Committee, which concluded that the firm engaged in prohibited pre-hedging activity on multiple…
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According to a disciplinary notice issued by the exchange, the violations occurred across various NYMEX Energy futures and spread markets between 6–31 March 2023 and 2–20 June 2023. TFS Derivatives neither admitted nor denied the findings but accepted the settlement terms. The NYMEX Business Conduct Committee reportedly found that TFS repeatedly reported block trades with…
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According to a Letter of Acceptance, Waiver, and Consent (AWC) published by the regulator, the New York-based investment banking firm failed to establish and implement policies and internal controls reasonably designed to comply with the Bank Secrecy Act. Notably, FINRA says the firm did not respond in a timely manner to Financial Crimes Enforcement Network…
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