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Institutional FX
FINRA Fines Nomura Securites $125k for Miscalculating Its Net Capital
Nomura allegedly misclassified reverse repos with affiliate NSC as allowable assets.
FINRA has recently penalized Wells Fargo, Instinet and DBOT for various violations.
Monday, 16/01/2023 | 17:50 GMT
by
Solomon Oladipupo
Institutional FX
SFC Fines Guosen Securities HK$2.8 Million
The Commission pointed to mitigating factors in its final decision.
Gousen breached the Client Securities Rules.
Wednesday, 21/12/2022 | 10:34 GMT
by
Damian Chmiel
Institutional FX
FINRA Slams $165k Fine on Instinet for Data Inaccuracy and Poor Supervision
Instinet published 54 inaccurate monthly reports between 2015 and 2019.
The broker also under-reported about 5% of the total covered orders during the period.
Monday, 12/12/2022 | 20:09 GMT
by
Solomon Oladipupo
Retail FX
FCA Slaps £4,8m Fine on BGC Brokers and GFI Subsidiaries
BGC Brokers, GFI Brokers and GFI Securities must pay a fine of almost £4,8 million.
The inter-dealer brokers failed to implement MAR trade surveillance requirements.
Thursday, 08/12/2022 | 13:19 GMT
by
Damian Chmiel
Institutional FX
ASIC Fines AUSIEX and Hits CommSec With Largest Ever Penalty
The penalty is the highest in history for breaching the Market Integrity Rule.
Companies used 121,000 occasions to overcharge their clients.
Wednesday, 26/10/2022 | 09:11 GMT
by
Damian Chmiel
Retail FX
FINRA Slaps $100k Penalty on Dealerweb for TRACE Violations
The penalty is for inaccurate TRACE transaction reports and a deficient supervisory system.
Dealerweb paid $37,500 to FINRA for various TRACE violations between 2013 and 2017.
Tuesday, 18/10/2022 | 16:38 GMT
by
Solomon Oladipupo
FinTech
Hong Kong Imposes HK$6M Fine on Commerzbank AG for AML Lapses
The offence was committed between April 2012 and June 2016.
HKMA said Commerzbank AG has taken 'prompt remedial action'.
Friday, 26/08/2022 | 14:11 GMT
by
Solomon Oladipupo
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Retail FX
AMF Fines 123 Investment Managers EUR 200,000
The Committee accused the firm of breaching its professional obligations.
It was related to procedures concerning the disclosure of information to third parties.
Monday, 18/07/2022 | 21:26 GMT
by
Felipe Erazo
Institutional FX
FINRA Imposes $325,000 Fine on BofA Securities
BofAS has been a member of FINRA since 2018.
According to the regulatory authority, the company violated Regulation NMS Rule 605 and FINRA Rule 2010.
Monday, 18/07/2022 | 08:07 GMT
by
Bilal Jafar
Institutional FX
CFTC Slams $1.37m Fine on Starberry for Acting as FCM without a Permit
Starberry accepted more than $400 million from a foreign customer.
The corporation is to disgorge the 'unlawful' earnings.
Friday, 24/06/2022 | 20:10 GMT
by
Solomon Oladipupo
Retail FX
CySEC Fines CIF Capital Com SV Investments Ltd. for Non-compliance with Article 16(2)
The company was fined for late reporting of two suspicious transactions that happened over a year.
CySEC added the fact that the company reported the suspicious transactions, albeit belatedly.
Wednesday, 06/04/2022 | 13:05 GMT
by
Matti Williamson
Institutional FX
Credit Suisse to Defend $45M Penalty Order in Swiss Court
The bank is accused of its failures in anti-money laundering rules.
Antonio Horta-Osorio recently quit as Credit Suisse Chairman in a controversial way.
Monday, 31/01/2022 | 13:38 GMT
by
Arnab Shome
Institutional FX
SFC Imposes $8 Million Fine on Grand International Futures
The commission suspended the responsible officer for regulatory breaches.
The company failed to comply with AML requirements between October 2017 and October 2018.
Thursday, 30/12/2021 | 11:14 GMT
by
Bilal Jafar
Brokers
24option Operator Faces €15K Fine in the Netherlands
The company did not cooperate with an investigation by the Dutch regulator.
The fine was kept on the lower side because of the firm’s financial condition.
Wednesday, 29/12/2021 | 13:08 GMT
by
Arnab Shome
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Institutional FX
BaFin Fines Deutsche Bank €8.66M for Benchmark Control Failures
It was a big blow to the reputation of the German lender.
The bank has already accepted the fine.
Wednesday, 29/12/2021 | 10:32 GMT
by
Arnab Shome
News
Turkish Regulator Fines Binance $750K
The exchange allegedly violated local anti-money laundering laws.
It was the first such action against any crypto platform in the country.
Monday, 27/12/2021 | 07:29 GMT
by
Arnab Shome
Institutional FX
FCA Seeks £40.8M Fine from Hedge Fund BlueCrest Capital
The regulator slapped charges of failure to manage conflict of interest.
The hedge fund has now taken the case to the Upper Tribunal.
Wednesday, 22/12/2021 | 12:58 GMT
by
Arnab Shome
Institutional FX
Standard Chartered Bank Fined £46.5 Million for Regulatory Failures
This is the highest penalty imposed by the PRA in an individual enforcement case.
The bank has agreed to rectify the lapses in its system.
Monday, 20/12/2021 | 10:37 GMT
by
Arnab Shome
Institutional FX
FCA Fines HSBC £64 Million for AML Lapses
The bank’s AML system had serious lapses for eight years.
It is not working with FCA to strengthen its AML processes.
Friday, 17/12/2021 | 09:41 GMT
by
Arnab Shome
Institutional FX
NatWest Faces £265 Million Fine for FCA’s Money Laundering Charges
The bank already pled guilty to the charges brought against it.
“Without the Bank… the money could not be effectively laundered,” the Judge stated.
Tuesday, 14/12/2021 | 07:18 GMT
by
Arnab Shome
Institutional FX
CME Group Slaps $75K Fine on GFI Securities for Reporting Violations
GFI neither accepted nor denied the allegations.
Monday, 22/11/2021 | 08:30 GMT
by
Arnab Shome
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Institutional FX
SFC Imposes $5.5 Million Fine on Ample Capital Limited
The authority suspended the company’s responsible officer for IPO sponsor failures.
Monday, 18/10/2021 | 09:50 GMT
by
Bilal Jafar
Brokers
Estonian Regulator Slapped €32,000 Fine on Admiral Markets AS
The regulator found a lack of clarity on the broker's changing terms.
Tuesday, 09/02/2021 | 11:23 GMT
by
Arnab Shome
Brokers
TopForex Operator Settles with CySEC for €270,000
The Goldenburg Group manages multiple forex brands under its CIF license.
Monday, 01/02/2021 | 15:49 GMT
by
Arnab Shome
Regulation
FINRA Slaps $6.5 Million Fine on LPL Financials
The regulatory authority fined LPL for failing to establish a supervisory system to meet compliance requirements.
Monday, 04/01/2021 | 13:46 GMT
by
Bilal Jafar
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