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Tagged with "eccleston"

Vanguard Settles SEC Charges Over Target Date Fund Disclosures for $106 Million

Posted on February 6th, 2025 at 4:10 PM
Vanguard Settles SEC Charges Over Target Date Fund Disclosures for $106 Million

Vanguard has agreed to pay $106.41 million to settle charges by the Securities and Exchange Commission (SEC) over alleged disclosure failures related to its target date retirement funds (TDFs).

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SEC Forms Cryptocurrency Task Force to Develop Clear Regulatory Framework

Posted on February 5th, 2025 at 12:02 PM
SEC Forms Cryptocurrency Task Force to Develop Clear Regulatory Framework

According to ThinkAdvisor, the U.S. Securities and Exchange Commission (SEC) has announced the creation of a cryptocurrency-focused task force to establish a "comprehensive and clear" regulatory framework for digital assets.

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Wells Fargo Faces $3.37 Million FINRA Award Over Alleged Elder Exploitation

Posted on February 4th, 2025 at 4:37 PM
Wells Fargo Faces $3.37 Million FINRA Award Over Alleged Elder Exploitation

A FINRA arbitration panel has ordered Wells Fargo Clearing Services and its advisor, Stephen L. Smith, to pay approximately $3.37 million in damages to the estate of Genell Mathis.

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Bank of America Agrees to Consent Order Over Anti-Money-Laundering Deficiencies

Posted on February 3rd, 2025 at 3:50 PM
Bank of America Agrees to Consent Order Over Anti-Money-Laundering Deficiencies

Bank of America Corp. has entered into a consent order with the Office of the Comptroller of the Currency (OCC) to address deficiencies in its anti-money-laundering (AML) and sanctions compliance programs.

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UBS Settles FINRA Claims Over Supervision of Short-Term Preferred Stock Trades

Posted on January 31st, 2025 at 2:21 PM
UBS Settles FINRA Claims Over Supervision of Short-Term Preferred Stock Trades

According to AdvisorHub, UBS Wealth Management USA’s broker-dealer has agreed to pay $3.5 million in sanctions over allegations of supervisory failures related to short-term trading of syndicate preferred stock.

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Wells Fargo Loses Bid for TRO Against Fired Illinois Broker

Posted on January 31st, 2025 at 10:16 AM
Wells Fargo Loses Bid for TRO Against Fired Illinois Broker

A federal judge has denied Wells Fargo Advisor’s request for a temporary restraining order against a Schaumburg, Illinois-based broker it fired in November, according to a court filing on Wednesday.

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Two Sigma Settles SEC Charges for Investment Model Failures and Whistleblower Rule Violations

Posted on January 30th, 2025 at 4:18 PM
Two Sigma Settles SEC Charges for Investment Model Failures and Whistleblower Rule Violations

According to SEC.gov, the Securities and Exchange Commission (SEC) recently announced that Two Sigma Investments LP and Two Sigma Advisers LP (collectively, Two Sigma) agreed to settle charges of breaching fiduciary duties, compliance failures, and violations of the SEC’s whistleblower protection rule.

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Robinhood to Pay $45 Million for Multiple Securities Law Violations

Posted on January 29th, 2025 at 11:27 AM
Robinhood to Pay $45 Million for Multiple Securities Law Violations

Robinhood Securities LLC and Robinhood Financial LLC have agreed to pay $45 million to resolve allegations of widespread securities law violations. According to InvestmentNews, the settlement follows an SEC investigation that uncovered ten distinct regulatory failures spanning several years.

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Former Financial Advisor Sentenced to Prison for $2.5 Million Investment Fraud Scheme

Posted on January 28th, 2025 at 9:00 AM
Former Financial Advisor Sentenced to Prison for $2.5 Million Investment Fraud Scheme

According to InvestmentNews, a former financial advisor from Wisconsin, David Braeger, has been sentenced to 24 months in federal prison for an investment fraud scheme that caused over $2.5 million in losses.

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Gemini Settles $5 Million Case With CFTC Over Misleading Statements

Posted on January 27th, 2025 at 11:06 AM
Gemini Settles $5 Million Case With CFTC Over Misleading Statements

Crypto exchange Gemini has agreed to pay $5 million to settle allegations by the U.S. Commodity Futures Trading Commission (CFTC) that it made misleading statements about bitcoin futures contracts in 2017.

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FINRA Arbitration Panel Orders Fidelity to Pay $1.3 Million Over Structured Product Disputes

A Financial Industry Regulatory (FINRA) arbitration panel has ordered Fidelity Brokerage Services to pay approximately $1.3 million to two groups of clients who alleged misconduct tied to structured product investments, according to ThinkAdvisor.