- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jeff Dale2023-10-04T20:35:00
The institutional broker-dealer arm of Santander in the United States agreed to pay $100,000 to settle allegations by the Financial Industry Regulatory Authority (FINRA) regarding supervision failures related to misuse of material nonpublic information (MNPI).
Santander U.S. Capital Markets agreed to be censured in reaching settlement for failing to establish, maintain, and enforce a supervisory system and written procedures reasonably designed to achieve compliance with FINRA rules, the self-regulatory organization said in a disciplinary action published Friday.
From April 2019 through December 2021, Santander U.S. did not have reasonably designed systems and procedures to monitor affiliate employees accessing MNPI, FINRA said. The firm’s procedures relied on a manual process requiring affiliate employees with access to be identified to firm personnel and their communications be documented to prevent trading in MNPI.
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OEP Capital Advisors agreed to pay a $4 million penalty as part of a settlement with the Securities and Exchange Commission addressing alleged deficiencies regarding the prevention of misuse of material nonpublic information.
TD Private Client Wealth agreed to pay a $600,000 penalty levied by the Financial Industry Regulatory Authority for allegedly failing to review millions of employee emails as required by the self-regulatory organization’s rules.
HSBC Securities (USA) agreed to pay $2 million as part of a settlement with the Financial Industry Regulatory Authority addressing alleged inaccurate disclosures related to conflicts of interest.
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.
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.
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.
