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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Jeff Dale2024-08-22T20:26:00
Cantor Fitzgerald agreed to pay more than $151,000 and be censured as part of a settlement with the Financial Industry Regulatory Authority (FINRA) over alleged supervisory failures in respect to over-the-counter (OTC) securities.
Cantor failed to provide best execution for nearly 2,400 orders in OTC securities that it received from other broker-dealers, according to FINRA’s disciplinary action published Tuesday. The firm agreed to pay a $100,000 fine, more than $51,000 in restitution plus interest, and be censured.
From July 2017 through May 2019, the firm failed to establish and maintain a supervisory system reasonably designed to achieve compliance with its best execution obligations for customer orders in OTC securities in violation of FINRA rules 5310, 3110 and 2010, the self-regulatory organization said.
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News and analysis for the well-informed compliance or audit exec. Select an option and click continue.
Annual Membership $499 Value offer
Full price one year membership with auto-renewal.
Membership $599
One-year only, no auto-renewal.
2024-09-12T15:11:00Z By Jeff Dale
The Financial Industry Regulatory Authority fined JPMorgan Securities $190,000 for unregistered investment banking activities and not having a supervisory system reasonably designed to achieve compliance with FINRA registration requirements.
2024-05-10T16:55:00Z By Kyle Brasseur
Merrill Lynch was assessed an $825,000 penalty by the Financial Industry Regulatory Authority for alleged supervision failures regarding the execution of marketable equity orders entered into its electronic order systems.
2023-10-04T20:35:00Z By Jeff Dale
Santander U.S. Capital Markets agreed to pay $100,000 to settle allegations by the Financial Industry Regulatory Authority regarding supervision failures related to misuse of material nonpublic information.
2024-12-20T17:39:00Z By Aaron Nicodemus
USAA Federal Savings Bank has been hit with its third cease and desist order from the Treasury Department’s Office of the Comptroller of the Currency in the past five years for failing to correct unsafe and unsound banking practices.
2024-12-18T18:08:00Z By Adrianne Appel
Becton Dickinson medical device company will pay $175 million for “repeatedly” misleading investors about its Alaris infusion pump, a product the company knew was flawed and was sold without the required patient-safety approvals, the Securities and Exchange Commission said.
2024-12-17T20:57:00Z By Adrianne Appel
The Securities and Exchange Commission charged bankrupt fashion retailer Express with failing to disclose nearly $1 million in perks to a former chief executive, but did not levy a financial penalty thanks to its cooperation, the SEC said.
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