Category: Fines

CySEC fine
July 26, 2022 BY Steffy Bogdanova

Triangleview Investments pays €50K in settlement with CySEC

The settlement follows an investigation into Triangleview Investments involving compliance omissions regarding protection of clients’ funds during the period between December 2021 and February 2022. CySEC recently tightened supervision on CFDs brokers as it introduced additional controls to strengthening investor protection. The regulator warned brokers that if they repeatedly have issues with compliance, they will…

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CFTC penalty
July 01, 2022 BY Steffy Bogdanova

Interactive Brokers to pay $1 million to CFTC for supervision failures

The official CFTC announcement stated that Interactive Brokers charged customers the higher fee, but it ended up paying the exchange the lower fee applicable to spread trades. The company overcharged its customers a total of $710,828.14. According to Interactive Brokers, where the firm confirmed that a current customer was overcharged, it refunded the amount. The…

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SEC fraud
June 30, 2022 BY Steffy Bogdanova

UBS agrees to pay $25 million penalty to settle fraud charges with SEC

Osman Nawaz, Chief of the Division of Enforcement’s Complex Financial Instruments Unit Advisory firms are obligated to implement appropriate policies and procedures to ensure all parties involved in the sale of complex financial products and strategies have a clear understanding of the risks those products present. As fiduciaries, advisers also must make suitable recommendations to…

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BNY Mellon Investment Adviser charged with omissions in ESG by SEC
June 29, 2022 BY Steffy Bogdanova

SEC slaps Ernst & Young with a $100 million fine

Further, EY admits that during the Enforcement Division’s investigation into the firm, it stated that the firm had no current issues with cheating when, in fact, it had been informed of possible cheating on a CPA ethics exam. Moreover, EY did not correct its stance after it conducted an internal investigation and confirmed that cheating…

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CySEC fine
June 20, 2022 BY Steffy Bogdanova

CySEC fines Maxigrid and issues bans on four directors

CySEC’s decision follows an investigation into Maxigrid’s non-compliance. The official announcement stated: Maxigrid's Board of Directors was found to have acted in violation of this article over its failure to define and take responsibility for the implementation of arrangements that ensure the effective and prudent management of the Company, in a way that promoted the…

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