July 17, 2015 BY Mike Fox
San Diego man's Ponzi scheme busted by SEC
Fraudulent unregistered "investment firm", raised $2.6 million from clients.
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May 10, 2015 BY Andrew Saks-McLeod
SEC and FINRA to hold national compliance outreach program for Broker-Dealers
The joint outreach program will be held on July 14 at the SEC's Washington D.C. headquarters, with topics of interest on the agenda including cybersecurity, anti-money laundering, and firms' approaches to supervision and sales practices
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April 01, 2015 BY Andrew Saks-McLeod
SEC issues $130,000 penalty to company which attempted to stifle Whistleblowers
“By requiring its employees and former employees to sign confidentiality agreements imposing pre-notification requirements before contacting the SEC, KBR potentially discouraged employees from reporting securities violations to us,” - Andrew J. Ceresney, Director of the SEC’s Division of Enforcement
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April 01, 2015 BY Andrew Saks-McLeod
Full financial details of GAIN Capital's acquisition of City Index confirmed
The shares were sold for an aggregate purchase price of approximately US$148 million, consisting of approximately US$36 million in cash, including US$1 million to be held in escrow; 5,319,149 shares including 4,787,234 consideration shares to be held in escrow
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February 04, 2015 BY Andrew Saks-McLeod
Are your funds safe when held by online brokerages? SEC cybersecurity exam of 100 broker-dealers reveals high risk
“Our examinations assessed a cross-section of the industry as a way to inform the Commission on the current state of cybersecurity preparedness. We hope that investors and industry participants will also benefit from what we have learned.” - SEC senior executive Andrew Bowden.
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January 15, 2015 BY Mike Fox
SEC issues largest ever fine to an Alternative Trading System, to UBS
UBS Securities LLC agreed to settle the charges by paying more than $14.4 million, including a $12 million penalty that is the SEC’s largest against an alternative trading system (ATS).
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January 14, 2015 BY LeapRate Staff
SEC sets rules to increase transparency in the Swap market
The US Securities and Exchange Commission (SEC) today adopted two new sets of rules that will require security-based swap data repositories (SDRs) to register with the SEC and prescribe reporting and public dissemination requirements for security-based swap transaction data. The SEC also proposed certain additional rules, rule amendments and guidance related to the reporting and…
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December 22, 2014 BY Andrew Saks-McLeod
F-Squared and former CEO issued with $35 million fine for misleading performance advertising
Massachusetts-based F-Squared, a marketer of index products using exchange-traded funds, began receiving algo-based signals from a third-party data provider in September 2008 indicating when to buy or sell an investment.
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December 08, 2014 BY Andrew Saks-McLeod
Bitcoin-related stock exchange sanctioned by SEC for conducting unregistered business
According to an order issued by the SEC, Ethan Burnside and BTC Trading Corp. actively solicited the public to open accounts by advertising the websites for both of his stock exchanges on the Bitcoin Forum and other websites dedicated to virtual currency.
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December 08, 2014 BY Andrew Saks-McLeod
SEC sanctions 8 audit firms over impartiality rules when reporting brokerage financials
Eight professional services consultancies which prepared financial statements on behalf of broker-dealers for submission to the SEC have been fined $140,000 collectively for not remaining impartial during reporting
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