Foreign Collusion, Naked Shorting (Counterfeiting) & Money Laundering — All Illicit Wealth
UBS Financial Services Inc. Fined by FINRA
5 October 2018
An AWC was issued in which the firm was censured and
fined $50,000. 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
Agency Debt Securities and in TRACE-Eligible Securitized Products within the
time permitted under FINRA Rule 6730(a).
CIM Securities, LLC Fined by FINRA
3 October 2018
A Letter of Acceptance, Waiver and Consent (AWC) was
issued in which the firm was censured and fined $15,000. Without admitting
or denying the findings, the firm consented to the sanctions and to the
entry of findings that it failed to comply with its obligations to review,
approve, document and supervise private securities transactions by three
of its registered representatives.
Michelle Ong, Nancy Condon
FINRA.org, 27 July 2015
The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Goldman Sachs Execution & Clearing, L.P. $1.8 million for systemic Order Audit Trail System (OATS) reporting violations spanning a period of more than eight years, failure to accurately submit required trade reports to the appropriate FINRA Trade Reporting Facility (TRF), and related supervisory failures.
Merrill Lynch Units Censured, Fined in Finra Settlement
Tess Stynes
Wall Street Journal, 27 October 2014
The Financial Industry Regulatory Authority said it fined two Merrill Lynch units a combined $6 million and censured the firms in a settlement of allegations that they violated rules that govern short sales and prevent naked short selling.
Michelle Ong, Nancy Condon
FINRA, 1 July 2014
The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Goldman Sachs Execution & Clearing, L.P. $800,000 for failing to have reasonably designed written policies and procedures in place to prevent trade-throughs of protected quotations in NMS stocks from November 2008 through August 2011 in connection with trading in its proprietary alternative trading system, SIGMA-X.
Fordham Financial Management Fined by FINRA
FINRA, August 2012
Fordham Financial Management submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $10,000. Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that it improperly reported Execution or Combined Order/Execution Reports to OATS with a reporting exception code of “M.” The findings stated that the firm transmitted reports to OATS that contained inaccurate capacity codes.
Michelle Ong, Nancy Condon
FINRA, 12 April 2012
The Financial Industry Regulatory Authority (FINRA) today announced that it has fined Goldman, Sachs & Co. $22 million for failing to supervise equity research analyst communications with traders and clients and for failing to adequately monitor trading in advance of published research changes to detect and prevent possible information breaches by its research analysts. The Securities and Exchange Commission (SEC) today announced a related settlement with Goldman. Pursuant to the settlements, Goldman will pay $11 million each to FINRA and the SEC.
Goldman Sachs to Pay $650,000 for Failing to Disclose Wells Notices
Nancy Condon, George Smaragdis
FINRA.org, 9 November 2010
The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Goldman, Sachs & Co. $650,000 for failing to disclose that two of its registered representatives, including Fabrice Tourre, had received formal notices from the Securities and Exchange Commission (SEC) that they were the subjects of investigations. Tourre’s “Wells Notice” was issued in connection with the SEC’s investigation of an offering of a synthetic collateralized debt obligation (CDO) called ABACUS 2007-ACI (Abacus).
13 May 2010
The Financial Industry Regulatory Authority (FINRA) announced today that it has fined two broker-dealers a total of $925,000 for executing numerous short sale orders in violation of Regulation SHO and for related supervisory violations. FINRA fined New York’s Deutsche Bank Securities $575,000 and Boston’s National Financial Services (NFS) $350,000.
THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?
