The first change was implemented in July 2018 and caused the BIDS to overstate its advertised trading volume in 151 instances, which resulted in the overstating of 12,298,256 shares for 92 securities. The second change came in May 2019 when BIDS reconfigured its servers, causing the platform to overstate trade volume in 1,890 instances, which…
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MAS’ investigation found that between June 2011 and April 2018 TTSL had failed to follow MAS’s requirements on AML/CFT regulation. Firstly, TTSL failed to verify source of wealth trust settlers who posed a higher risk of money laundering and terrorism financing. The company also failed to regularly monitor or scrutinize the transactions of trust relevant…
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The U.S. Commodity Futures Trading Commission (CFTC) today filed an Order instituting proceedings and settling charges against Convergent Wealth Advisors LLC (Convergence), an investment advisory firm located in Potomac, Maryland. The CFTC Order requires Convergent to pay an $800,000 civil monetary penalty and prohibits Convergent from violating the provisions of the Commodity Exchange Act and…
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The U.S. Commodity Futures Trading Commission (CFTC) today issued an Order filing and simultaneously settling charges against Societe Generale SA (EPA: GLE) for failing to properly report certain non-deliverable forward transactions to a swap data repository (SDR), and failing to timely report to an SDR a large number of FX swap, FX forward, and non-deliverable forward…
Read moreFollowing onsite inspections by CySec of Safecap's operations in May 2013 and October 2014, the Cypriot regulator has imposed a €168,000 fiscal penalty relating to administrative issues
Read moreThe 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 moreAustralia's national financial markets regulator ASIC has accepted a $130,000 (AUD) payment from FCStone Australia for infringements relating to risk management procedure and the filing of administrative reconciliations
Read moreFINRA shows its regulatory prowess as Oppenheimer & Co is landed with a $2.5 million fine and a $1.25 million restitution order after broker Mark Hotton stole money from his customers and excessively traded their accounts
Read moreThe 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 moreThe NFA found that Nextsource Trading Corporation, a clearing member on CME and ICE, had entered discretionary trades on customer accounts without authorization
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