Fine

SEC announced settled charges against Merrill Lynch, Pierce, Fenner & Smith Inc.

Reason: FraudulentContent of Penalty: The Securities and Exchange Commission today announced settled charges against Merrill Lynch, Pierce, Fenner & Smith Inc. for its failure to perform required gatekeeping functions in the unregistered sales of securities on behalf of a China-based issuer and its affiliates. The SEC’s order found that Merrill Lynch sold almost three million shares of Longtop Financial Technological ...

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SEC Charges Company and Executives in Oil-and-Gas Offering Fraud

Reason: FraudulentContent of Penalty: The Securities and Exchange Commission has charged a Dallas-based oil-and-gas company and two of its executives with defrauding investors out of at least $950,000 through a string of fraudulent oil-and-gas securities offerings. The SEC’s complaint, which was filed yesterday in federal court in the Northern District of Texas, alleges that Shezad Akbar used his company, Americrude, ...

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NYSE to Pay $14 Million Penalty for Multiple Violations

Reason: AbuseContent of Penalty: The Securities and Exchange Commission today announced that it charged the New York Stock Exchange and two affiliated exchanges with regulatory failures in connection with multiple episodes, including several disruptive market events.  The charges arose from five separate investigations and include the first-ever charged violation of Regulation SCI.  The Commission adopted Reg SCI to strengthen the ...

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FCA fines and bans former Deutsche Bank trader

Reason: AbuseContent of Penalty: Mr Adolph formerly worked at Deutsche Bank as a short-term interest rate derivatives trader, trading products referenced to CHF (Swiss Franc) and JPY (Japanese Yen) LIBOR. For a period of time, Mr Adolph acted as the primary JPY LIBOR submitter for Deutsche. Mark Steward, Director of Enforcement and Market Oversight at the FCA said: “Mr Adolph ...

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The FCA fines Vanquis and orders Vanquis to pay compensation to customers

Reason: Abuse, MiscodunctComment: The Financial Conduct Authority (FCA) has today imposed a fine of £1,976,000 on credit card lender, Vanquis, for failing to disclose the full price of an add-on product, called Repayment Option Plan (ROP).Content of Penalty: The Financial Conduct Authority (FCA) has today imposed a fine of £1,976,000 on credit card lender, Vanquis, for failing to disclose the ...

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CySEC fined ICFD Ltd

Reason: Non CompliantContent of Penalty: The Board of the Cyprus Securities and Exchange Commission (‘CySEC’) informed the public that, at the meeting held on 13th November 2017, has decided to impose a total administrative fine of €138.000 to CIF ICFD Ltd for non-compliance with the following: 1. Section 6(8) of the Investment Services and Activities and Regulated Markets Law of ...

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CFTC issued a fine to AMP Global Clearning LLC for Supervision Failures Related to Cybersecurity of its Customers’

Reason: AbuseContent of Penalty: The Commodity Futures Trading Commission (CFTC) issued an Order filing and simultaneously settling charges against AMP Global Clearing LLC (AMP), a registered Futures Commission Merchant since 2010, for its failure between June 21, 2016 and April 17, 2017 to supervise diligently the implementation of critical provisions in AMP’s information systems security program (ISSP). As a result of this ...

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CySEC fined Chesterfield Corporate Services Ltd

Reason: Non CompliantContent of Penalty: The Board of the Cyprus Securities and Exchange Commission (‘CySEC’) wishes to inform the public that, at its meeting held on 20th November 2017, decided to impose a total administrative fine of €20.000 on the ASP Chesterfield Corporate Services Ltd for non-compliance with: 1. Sections 58(a), 58(c) and 58(e) of the Prevention and Suppression of ...

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SFC reprimands and fines Credit Suisse (Hong Kong) Limited

Reason: Abuse, MiscodunctContent of Penalty: The Securities and Futures Commission (SFC) has resolved its concerns with Credit Suisse (Hong Kong) Limited (CSHK), Credit Suisse Securities (Hong Kong) Limited (CSSHK) and Credit Suisse AG (CSAG) (collectively, Credit Suisse) over internal control failures. Under the resolution, the SFC reprimanded and fined Credit Suisse a total of $39.3 million for regulatory breaches, including ...

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CySEC fined Hoch Capital Ltd

Reason: Non CompliantContent of Penalty: The Board of the Cyprus Securities and Exchange Commission (‘the CySEC’) would like to inform the public that, at the meeting held on 20th November 2017, decided to impose an administrative fine of €30.000 to the CIF Hoch Capital Ltd (‘the Company’), for non-compliance with section 36(1)(a) of the Investment Services and Activities and Regulated ...

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