Foreign Collusion, Naked Shorting (Counterfeiting) & Money Laundering — All Illicit Wealth
Hennion & Walsh, Inc. Fined by FINRA
23 January 2019
An AWC was issued in which the firm was censured, fined $165,000, ordered to pay $305,438.83 in restitution to customers, and shall certify to FINRA that it has established and implemented policies, procedures and internal controls reasonably designed to address and remediate the issues identified in the AWC.
Billionaire Ken Griffin buys $122 million London mansion
Robert Frank
CNBC, 22 January 2019
Hedge fund billionaire Ken Griffin has just smashed another real estate price record, buying the most expensive home sold in London in over a decade for $122 million.
Griffin, CEO and founder of Citadel, bought a famed mansion near Buckingham Palace that was once home to Charles de Gaulle, according to a company spokesperson. The property at 3 Carlton Gardens stretches more than 16,000 square feet and has an indoor swimming pool and large staff quarters. It is the most expensive home sold in London since 2008, and comes as London property prices have tumbled due to Brexit fears.
David Einhorn Still Laboring Under Sad Misconception That Tesla Is Subject To Basic Logic
Thornton Mcenery
Dealbreaker, 14 January 2019
Like many in his peer group, things have been pretty rough lately for good old David Einhorn. What with losing all that client money, getting shut down on his big GM play and the Mets being sellers at the deadline, Big Dave just needs a win.
But he seems to be barking up the wrong tree with his strange Tesla obsession. See, David Einhorn is a systematic value investor who likes to look at things through a logical prism. He’s a master poker player with a long-term view of the world. He’s a billionaire who drives a Honda Odyssey.
Of course David Einhorn doesn’t understand Tesla.
Advisory Group Equity Services Ltd. Fined by FINRA
14 January 2019
An AWC was issued in which the firm was censured and fined $20,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to establish and maintain a reasonable supervisory system with respect to the retention and review of emails of newly hired representatives.
CFD Investments, Inc. Fined by FINRA
10 January 2019
A Letter of Acceptance, Waiver and Consent (AWC) was issued in which the firm was censured and fined $125,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to establish, maintain and enforce a supervisory system and written supervisory procedures (WSPs) reasonably designed to ensure that its registered representatives’ recommendations of variable annuities complied with applicable securities laws and regulations and FINRA rules.
Will Naked Short Selling Make a Comeback in 2019?
Cynthia Hetherington
Hetherington Group, 2 January 2019
Many investors “Go Long,” meaning they purchase stocks with the hope of gaining returns as the price of the security increases. A short seller, on the other hand, borrows on a stock and sells, hoping the price will decrease.
A third type of investor is known as a Naked Short Seller. No, this isn’t the story of a guy sipping mai tai’s on a tropical beach in his birthday suit (although he could be and not be committing fraud!).
J.P. Morgan Securities LLC Fined by FINRA
21 December 2018
An AWC was issued in which the firm was censured and fined $560,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that its supervisory system, including its WSPs, did not provide for supervision reasonably designed to achieve compliance with Rules 605 and 606 of Regulation NMS, and Securities Exchange Act of 1934 Rule 10b-10, and FINRA Rule 7450.
Chardan Capital Markets LLC Fined by FINRA
20 December 2018
An AWC was issued in which the firm was censured, fined $75,000 and required to provide written reports to FINRA concerning its implementation and the effectiveness of its policies, systems, and procedures (written and otherwise) and training, to ensure the firm is in compliance with Rule 101 of Securities and Exchange Commission (SEC) Regulation M, and FINRA Rule 5190(c)(1)(A) and (B).
Cetera Advisor Networks LLC Fined by FINRA
19 December 2018
An AWC was issued in which the firm was censured, fined $700,000 and ordered to pay $691,755.27, plus interest, in restitution to customers. The firm shall also certify to FINRA that it has established and implemented policies, procedures and internal controls reasonably designed to address and remediate the issues identified in the AWC.
Tradition Securities and Derivatives Inc. Fined by FINRA
18 December 2018
An AWC was issued in which the firm was censured, fined $100,000 and required to submit a certification that the firm’s policies and procedures were reasonably designed with respect to the firm’s compliance with FINRA Rule 3310, the requirements of the Bank Secrecy Act and the regulations promulgated thereunder. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to establish or implement an anti-money laundering (AML) compliance program reasonably designed to detect and cause the reporting of suspicious transactions.
Windsor Street Capital, LP fka Meyers Associates, L.P. Fined by FINRA
17 December 2018
An Office of Hearing Officers (OHO) decision became final in which the firm was censured and fined $500,000. The sanctions were based on findings that the firm failed to establish and maintain a reasonable supervisory system and failed to reasonably supervise two registered representatives and their unsuitable trading in connection with trading in an account owned, through a trust, by an elderly couple.
Aegis Capital Corp. Fined by FINRA
14 December 2018
An AWC was issued in which the firm was censured and fined $64,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to report to the Trade Reporting and Compliance Engine® (TRACE®) transactions in TRACE-eligible corporate debt securities and transactions in TRACE-eligible securitized products within the time required by FINRA Rule 6730(a).
Merrill Lynch, Pierce, Fenner & Smith Incorporated Fined by FINRA
13 December 2018
An AWC was issued in which the firm was censured and fined $300,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to reasonably supervise an associated person who, together with a third-party individual, engaged in a scheme to defraud a customer of the firm. The findings stated that the associated person introduced the customer to the third party using a fictitious name, falsely representing that the third party was a wealthy and successful businessman who could help the customer with his various, existing business and other financial needs.
E*Trade Futures LLC fka Aperture, LLC dba OptionsHouse Fined by FINRA
12 December 2018
An AWC was issued in which the firm was censured and fined $75,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it routed for execution multiple options orders to other member firms that were marked with an inaccurate origin code of “Customer,” instead of “Professional Customer.” The findings stated that the firm failed to identify customer accounts under common ownership that met the Professional Customer threshold and failed to configure the Financial Information eXchange messaging code for Professional Customer with one of its executing brokers.
Wall Street Allows Giants Like Morgan Stanley Special Trading Hours
C. Edward Kelso
CoinSpice, 11 December 2018
“At the New York Stock Exchange, some traders are more equal than others,” Post reporter Kevin Dugan began. “That’s the bitter takeaway from stock brokers, who say the Big Board, in an unusual move last week, gave special treatment to a broker at Morgan Stanley who asked to trade large blocks of stocks for several minutes after the markets closed.”
THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?
