AR Capital LLC charged with wrongfully obtaining millions of dollars LeapRate

July 17, 2019 BY Valentina Kirilova

AR Capital LLC charged with wrongfully obtaining millions of dollars

The Securities and Exchange Commission (SEC) has yesterday informed the public that it has charged AR Capital LLC, its founder Nicholas S. Schorsch, and its former CFO Brian Block with wrongfully obtaining millions of dollars in connection with two separate mergers between real estate investment trusts (REITs) that were sponsored and externally managed by AR…

July 16, 2019 BY Valentina Kirilova

Nomura pays misled bond clients $25m after SEC charges

The Securities and Exchange Commission (SEC) has yesterday informed the public that it has instituted two related enforcement actions against Nomura Securities International Inc. The Japanese financial holding company has agreed to repay approximately $25 million to customers for its failure to adequately supervise traders in mortgage-backed securities. Nomura bond traders made false and misleading…

July 15, 2019 BY Valentina Kirilova

ESMA fines the trade repository Regis-TR S.A. €56,000 for data access failures

EU’s securities markets’ regulator ESMA has just informed the public that it has fined the trade repository Regis-TR S.A. €56,000 for negligently failing to provide to regulators direct and immediate access to details of derivative contracts. The European Markets and Infrastructure Regulation (EMIR) requires TRs to provide derivative contracts information as well as other data…

May 30, 2019 BY Valentina Kirilova

China Merchants Securities (HK) Co. Limited fined $5 million for mishandling client money

The Hong Kong Securities and Futures Commission (SFC) informed that it has reprimanded China Merchants Securities (HK) Co., Limited (China Merchants). The regulator has also fined the company $5 million for regulatory breaches and internal control failings related to mishandling of client money. 800 incidents happened between 1 October 2011 to 30 September 2014, where…

May 29, 2019 BY Valentina Kirilova

NSSC fines FPE Trading $165,000

The Nova Scotia Securities Commission announced earlier today that it has ordered Jean-Smaille Germeil and FPE Trading to pay an administrative penalty of $150,000, as well as to cover all the costs in connection with the investigation and conduct of this proceeding before the Commission in the amount of $15,000. Germeil and FPE Trading have repeatedly…

May 03, 2019 BY Valentina Kirilova

CySEC fines CIF Goldenburg Group Ltd €170.000

Cyprus regulator CySEC has just announced that it has decided to impose a total administrative fine of €170.000 to CIF Goldenburg Group Ltd. The reason for the fine is noncompliance with provisions of The Investment Services and Activities and Regulated Markets Law of 2007, as was in force (‘the L.144(Ι)/2007’), and of Directive DI 144-2007-02…

April 25, 2019 BY Valentina Kirilova

CySEC fines Bluehouse Investment Advisors Ltd €30.000

The Cyprus Securities and Exchange Commission (CySEC) has informed the public that it has decided to impose an administrative fine of €30.000 to the company AIFM Bluehouse Investment Advisors Ltd. The fine has been imposed for non compliance with section 16(1) of the Alternative Investment Fund Managers Law of 2013, as in force, as the…

April 22, 2019 BY Valentina Kirilova

Nine Masts Capital Limited fined $1.2m over naked short selling

The Hong Kong Securities and Futures Commission (SFC) announced that it has fined the company Nine Masts Capital Limited $1.2 million for failures relating to the short selling of Yuzhou Properties Company Limited shares in May 2015. Back then, on May 12, 2015, Yuzhou Properties proposed placing of new shares, subject to the fulfilment of…

April 10, 2019 BY Valentina Kirilova

Standard Chartered Bank fined £102.2 million for poor AML controls

The Financial Conduct Authority (FCA) has announced yesterday that it has fined Standard Chartered Bank £102,163,200 for Anti-Money Laundering (AML) breaches. This is the second financial penalty for AML controls failings in less than 5 moths imposed by the regulator. In December 2018, the FCA fined the former Chief Executive Officer of Sonali Bank (UK)…

March 29, 2019 BY Valentina Kirilova

Futures trader fined more than $1 million for fraud

The Commodity Futures Trading Commission (CFTC) has just announced that an individual named William H. Powderly IV of New Hope, Pennsylvania, has been fined $1,083,138 by the federal court in Illinois for fraudulently soliciting customers and distributing false account statements. Powderly misled customers, letting them know that he and a university professor developed a commodity futures…

Category: Fines