- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2023-02-17T20:14:00
Options Clearing Corp. (OCC) agreed to pay $22 million as part of settlements with the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) addressing charges the company failed to comply with internal rules to manage risks.
The OCC, the world’s largest equity derivatives clearing corporation, didn’t properly create, implement, and enforce its written policies and procedures related to reducing operational risks, the SEC alleged Thursday. The OCC didn’t comply with its agency-approved stress testing and clearing fund methodology rule between October 2019 and May 2021, per the agency’s order.
When the company didn’t modify its comprehensive stress testing system, as required, it didn’t notify the SEC of this failure, the order stated.
2023-05-18T15:47:00Z By Kyle Brasseur
The Securities and Exchange Commission proposed a package of rule changes designed to enhance the risk management responsibilities and resilience of covered clearing agencies.
2023-04-26T18:00:00Z By Aaron Nicodemus
Mizuho Capital Markets agreed to pay more than $6.8 million to settle charges from the Commodity Futures Trading Commission it failed to adequately disclose its pre-trade activity on certain foreign exchange forward transactions that disadvantaged customers.
2023-03-09T17:43:00Z By Aaron Nicodemus
Energy broker Coquest, its owners, and trading affiliates agreed to pay a total of nearly $3 million to resolve allegations from the Commodity Futures Trading Commission the firm failed in its oversight responsibilities regarding more than 2,000 trades made against its customers.
2025-07-08T19:50:00Z By Aaron Nicodemus
Federal banking regulators have laid the blame for Discover Financial Services charging merchants $1 billion in excessive credit card fees over 17 years squarely at the feet of company executives.
2025-07-07T19:02:00Z By Aaron Nicodemus
The Consumer Financial Protection Bureau has dropped a $95 million enforcement action against Navy Federal Credit Union, the latest regulatory pullback by the agency under President Donald Trump.
2025-07-07T17:45:00Z By Neil Hodge
The UK’s financial regulator has had a rough ride over the past couple of years as its strategy to “name and shame” firms it opened investigations into was widely slammed by the industry and lawmakers over concerns that companies could be unfairly maligned.
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