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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2022-10-25T19:08:00
A pair of investment advisers owned by Cetera Financial Group must pay a total of more than $8.6 million as part of a final judgment obtained by the Securities and Exchange Commission (SEC) alleging the defrauding of Cetera advisory clients.
Cetera Advisors and Cetera Advisor Networks were each assessed penalties of $1 million in addition to combining to pay disgorgement and prejudgment interest of approximately $6.6 million to resolve SEC claims of violating the Investment Advisers Act raised in an October 2019 complaint. The case had originally been filed against Cetera Advisors in August 2019 before Cetera Advisor Networks was added as a defendant two months later.
Final judgment for the case filed in U.S. District Court for the District of Colorado was obtained Oct. 13, though the SEC announced the result in a litigation release Monday.
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2021-08-31T16:42:00Z By Kyle Brasseur
The Securities and Exchange Commission penalized eight firms across three separate actions for breaches of employee email accounts that exposed the personal information of thousands of customers in each case.
2024-07-02T20:35:00Z By Adrianne Appel
Three former executives of Chicago-based Outcome Health, a healthcare technology company, were sentenced for misleading an auditor, clients, lenders, and investors about a scheme to sell $45 million in overbilled advertisements.
2024-07-02T19:43:00Z By Aaron Nicodemus
The U.S. Supreme Court extended the statute of limitations for businesses attempting to challenge some federal regulations, allowing regulated entities a longer timeline to appeal a decision.
2024-07-02T14:42:00Z By Adrianne Appel
A home health company operating in Indiana, Ohio, and Texas agreed to pay nearly $4.5 million to settle allegations it filed false claims by giving sports tickets and other kickbacks to assisted living facilities in exchange for referrals.
2024-07-02T13:50:00Z By Aaron Nicodemus
Crypto-friendly Silvergate Bank will pay a total of $63 million penalties to California and the Federal Reserve Board to settle charges that its anti-money laundering program failed to properly monitor more than $1 trillion worth of customer transactions.
2024-07-01T21:14:00Z By Adrianne Appel
A Minnesota dermatology practice, its owner, and chief executive agreed to pay $1.6 million to settle allegations, first brought by two whistleblowers, that the company violated the Anti-Kickback Statue by making false claims to Medicare.
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