Goldman Sachs has agreed to USD 6 million for submitting deficient submissions that included missing or inaccurate trade data for at least 163 million transactions.
September 25, 2023The former responsible officer logged into clients' internet trading accounts to place orders for them, and failed to maintain proper records of the order instructions.
September 20, 2023Banks selling PLP products can adopt other post-sale controls instead of audio recording the entire selling process.
September 1, 2023The SEC said Citigroup Global Markets used an "unsubstantiated and unverified" method to calculate and record indirect expenses associated with its underwriting work.
August 31, 2023Goldman's vendor service for recording mobile calls failed during the pandemic. Commissioner Caroline Pham said the penalty is unfair.
August 30, 2023Financial advisory firms have to identify vulnerable customers, conduct pretransaction checks, and ask a "trusted individual" to be present during the sales and advisory process.
August 28, 2023Alert review records were missing for over 14,000 alerts. Client call records were missing for more than 1,000 orders.
August 23, 2023The use of "off-channel" communications was "pervasive and longstanding". Wells Fargo was penalised $200mn, while BNP Paribas and SocGen were each fined $110mn.
August 9, 2023The bill focuses on protecting virtual asset users and preventing unfair trading practices. The new framework will be implemented within one year.
July 3, 2023Tiger Brokers ordered to pay NZD 900,000 penalty for multiple AML/CFT breaches between April 2019 and January 2020.
June 30, 2023