ASIC states that ICAP Futures Australia executed trades with the intent to exclude other participants or their representatives on two separate occasions and failed to make an enquiry through the message facility and wait the prescribed period prior to executing trades
Read MoreMorgan Stanley fined $2 million for violating short sale rule
Firms are required to regularly report to FINRA their record of total “short” positions in all customer and proprietary firm accounts in all equity securities, a procedure which, according to FINRA, Morgan Stanley breached
Read MoreCFTC fines FCStone $140,000 for supervision violations
The CFTC’s order finds that one occasion, FCStone’s employees transferred positions between two accounts that did not have the same underlying beneficial ownership
Read MoreBNY Mellon’s London operations fined by FCA over client money failings
The FCA has fined BNY Mellon’s London and international operations £126 million for failings regarding rulings on customer funds
Read MoreNFA fines McVean Trading & Investments $625,000 and K&M Trading $105,000
McVean Trading & Investments, and K&M Trading, along with the Principals of both firms, failed to enact required procedures regarding allocations from bunched customer orders
Read MoreICE Futures US fined $3 million for submitting inaccurate reports and data
The US Commodity Futures Trading Commission has issued a $3 million civil monetary penalty to ICE Futures US for submitting reports and data containing errors and omissions, with cumulative inaccuracies totaling in the thousands
Read MoreAlpari Japan faces $8,000 fine for asymmetric slippage
Alpari’s Japanese operation has been issued with a fine by the FFAJ for asymmetric slippage on certain MetaTrader 4 client accounts which took place in December 2013.
Read More18 RBS FX traders wave goodbye to annual bonus
“To be clear, no further bonus payments will be made or unvested bonus awards released to those in scope of the review until it has concluded and its recommendations have been considered” – Jon Pain, Head of Conduct and Regulatory Affairs, RBS
Read MoreFINRA censures broker-dealer arm of Wells Fargo for anti-money laundering failures
Wells Fargo Advisors (WFA) and Wells Fargo Advisors Financial Network (WFAFN), to pay a joint fine of $1.5 million for anti-money laundering (AML) failures, as both firms failed to subject over 200,000 new accounts to identity verification
Read MoreMerrill Lynch issued $1.9 million fine plus restitution by FINRA over pricing violations
Merrill Lynch, Pierce, Fenner & Smith Incorporated $1.9 million for fair pricing and supervisory violations in connection with more than 700 retail customer transactions in distressed securities over a two-year time period, as well as ordering restitution of $540,000
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