The violations are said to have involved more than 330 million trade confirmations issued between February 2014 and November 2024, which contained misleading or incomplete disclosures regarding average trade prices. FINRA found that UBS either incorrectly indicated that a trade price "may" be an average price when it was not or failed to disclose that…
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In its disciplinary action document, the regulator said the violations occurred over a seven-year period from October 2015 to December 2022 and involved more than 4.2 million transactions in options and issued options. Free-riding, a prohibited practice under U.S. securities regulations, involves customers buying and selling securities before paying for them in options and issued…
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The regulator published a Consultation Paper on 27 December 2024. The proposal also requires that a Greek summary accompany all prospectuses to safeguard investor accessibility. Currently, CySEC mandates that prospectuses be prepared in Greek, with exceptions allowing English under certain conditions. However, the proposed amendment seeks to broaden these exceptions, enabling more issuers to use…
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The regulator added that the fine is part of a larger $250,000 settlement which was resolved “simultaneously with similar matters.” FINRA states: "Regulation M under the Securities Exchange Act of 1934, in relevant part, makes it unlawful for underwriters, broker-dealers, and other distribution participants to directly or indirectly 'bid for, purchase, or attempt to induce…
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The SFC investigation is said to have found that Ever-Long fell short in conducting due diligence, disclosing material issues, and ensuring the accuracy of the Application Proof submitted for Coastal’s listing. The regulator explained that key failures included neglecting to verify the rationale and legality of a leasing arrangement central to Coastal's business model, which…
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The fine was for inaccuracies in its short interest positions reporting and deficiencies in its supervisory systems. According to FINRA, the violations spanned over 16 years, from June 2008 to August 2024, involving approximately 820,000 short interest positions totalling 77 billion shares. The regulator found that J.P. Morgan both overreported and underreported short interest data…
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The U.S. Securities and Exchange Commission (SEC) said Monday that it has filed charges against Connecticut-based Dolphin Associates III and its principal, Donald T. Netter, accusing them of withholding investor funds, charging excessive fees, and misleading investors. The SEC alleges that since November 2016, Dolphin and Netter improperly suspended withdrawals from a private fund they…
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The admissions were made in civil proceedings brought by the Financial Markets Authority (FMA) in the High Court in Auckland. The issues centred on three package types, including Employee, Gold, and Platinum (EGP) packages, as well as personal and business banking packages. Customers entitled to various benefits under the schemes frequently did not receive the…
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It follows the Australian Securities and Investments Commission’s (ASIC) investigation, which revealed deficiencies in Sanlam Private Wealth Pty Ltd’s oversight of its authorised representatives and corporate authorised representatives (CARs). ASIC said in a press release Monday that it found Sanlam failed to supervise its 42 CARs and 71 authorised representatives adequately, many of whom offered…
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The court is said to have ruled that collapsed Union Standard International Group Pty Ltd (USG), along with its former authorised representatives BrightAU Capital Pty Ltd (trading as TradeFred) and Maxi EFX Global AU Pty Ltd (trading as EuropeFX), engaged in systemic unconscionable conduct and other legal breaches, resulting in customer losses exceeding $83 million…
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