The SEC order found that Robinhood failed to comply with a broad spectrum of regulations. These are said to include delays in investigating and reporting suspicious transactions, inadequate measures to safeguard customer data from identity theft, and failing to adequately address a cybersecurity breach that compromised user data. “Today’s order finds that two Robinhood firms…
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The Ohio-based broker-dealer was found to have violated several FINRA rules between June 2020 and September 2024. According to FINRA’s investigation, Investments for You did not implement policies to comply with Regulation Best Interest (Reg BI), which mandates brokers to act in the best interest of retail customers. “Investments for You failed to establish and…
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The regulator’s action follows the firm's inability to meet essential conditions under the Payment Services Regulations 2017 (PSRs). Easy Exchange, which was registered to provide money remittance services, failed to submit the required annual regulatory reports, known as FSA057 returns, for the years 2021, 2022, and 2023. Despite repeated reminders and warnings from the FCA,…
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The fine comes as the regulator said the company failed to adequately supervise its employees' access to client data and the transmittal of funds from international stock plan services (SPS) accounts. The violations, spanning from December 2012 to October 2020, resulted in an associated person converting approximately $750,000 from 37 international plan participants. FINRA's investigation…
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The violations occurred between January 2021 and April 2023. They reportedly involved inadequate asset segregation, poor risk management, and unsatisfactory customer treatment during BinckBank's migration to Saxo Bank. The AFM investigation was prompted by consumer complaints and a critical assurance report from BinckBank's accountant. Customers reported delayed transactions, incorrect charges, and missing shares. The AFM…
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The fine stems from lapses identified between February 2018 and June 2023. BofA Securities reportedly failed to meet the requirements of the Trade Reporting and Compliance Engine (TRACE) on several counts. According to FINRA, the firm failed to report approximately 5,200 transactions in TRACE-eligible securities in a timely manner. This included late reporting of agency…
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The violations are said to have involved more than 330 million trade confirmations issued between February 2014 and November 2024, which contained misleading or incomplete disclosures regarding average trade prices. FINRA found that UBS either incorrectly indicated that a trade price "may" be an average price when it was not or failed to disclose that…
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In its disciplinary action document, the regulator said the violations occurred over a seven-year period from October 2015 to December 2022 and involved more than 4.2 million transactions in options and issued options. Free-riding, a prohibited practice under U.S. securities regulations, involves customers buying and selling securities before paying for them in options and issued…
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The regulator published a Consultation Paper on 27 December 2024. The proposal also requires that a Greek summary accompany all prospectuses to safeguard investor accessibility. Currently, CySEC mandates that prospectuses be prepared in Greek, with exceptions allowing English under certain conditions. However, the proposed amendment seeks to broaden these exceptions, enabling more issuers to use…
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The regulator added that the fine is part of a larger $250,000 settlement which was resolved “simultaneously with similar matters.” FINRA states: "Regulation M under the Securities Exchange Act of 1934, in relevant part, makes it unlawful for underwriters, broker-dealers, and other distribution participants to directly or indirectly 'bid for, purchase, or attempt to induce…
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