- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Kyle Brasseur2023-11-21T16:56:00
Registered broker-dealer Laidlaw and Company agreed to pay more than $800,000 as part of a settlement with the Securities and Exchange Commission (SEC) addressing multiple alleged violations of Regulation Best Interest (Reg BI).
Laidlaw, which is based in the United Kingdom, with offices in the United States, was fined approximately $223,000 and agreed to pay about $548,000 in disgorgement and $52,000 in prejudgment interest, the SEC announced in an administrative proceeding Monday. The firm was faulted for running afoul of Reg BI’s care and compliance obligations.
Two registered representatives at the firm, Richard Michalski and Michael Murray, also agreed to settlements with the SEC alleging violations of Reg BI. Michalski agreed to pay more than $100,000 in penalties, disgorgement, and interest, while Murray’s total payments fell short of $50,000.
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2024-09-18T18:53:00Z By Aaron Nicodemus
First Horizon Advisors will pay a $325,000 fine to settle allegations from the Securities and Exchange Commission that it violated Regulation Best Interest in part due to issues with incorporating a merged firms’ accounts into its systems.
2024-02-19T16:00:00Z By Kyle Brasseur
A subsidiary of the Teachers Insurance and Annuity Association of America agreed to pay more than $2.2 million as part of a settlement with the Securities and Exchange Commission for not acting in the best interest of its retail customers regarding their retirement accounts.
2023-09-29T14:51:00Z By Kyle Brasseur
Citigroup Global Markets and Citi International Financial Services agreed to pay a total of nearly $2 million as part of a settlement with the Securities and Exchange Commission resolving allegations they violated the disclosure obligations of Regulation Best Interest.
2025-04-22T12:00:00Z
The Federal Trade Commission (FTC) filed a lawsuit against Uber, alleging the ride-hailing company signed customers up for its Uber One subscription without consent, then made it hard for them to cancel. The move marks the U.S. government’s latest broadside against big tech companies, and the first major action from ...
2025-04-18T17:45:00Z By Oscar Gonzalez
The U.S. Consumer Financial Protection Bureau continues to unravel amid pressure from Trump administration officials to shutter the agency. Not only has the agency informed its employees that it will no longer be a watchdog for the financial services industry, it has also laid off employees despite court orders blocking ...
2025-04-15T07:30:00Z By Aaron Nicodemus
The Consumer Financial Protection Bureau dropped yet another consumer protection lawsuit against a bank or fintech provider since Donald Trump was sworn in as president in January. This time, it was with Comerica Bank.
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