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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2022-12-16T19:50:00
An equity trader unlawfully disclosed inside, nonpublic information about upcoming trades and fed it to a retired professional trader, resulting in $47 million in illegal gains, the Securities and Exchange Commission (SEC) said in announcing fraud charges against the pair Wednesday.
In a parallel action, the Department of Justice (DOJ) is pursuing criminal charges against the duo: Lawrence Billimek, an equity trader who since 2012 has worked for an asset manager in New York that handles about $283 billion in client funds, and day trader Alan Williams.
Williams, 77, is a retired head equity trader who last worked at a large firm. He had been working in the securities industry since 1971.
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News and analysis for the well-informed compliance or audit exec.
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Our lowest price ($1 per day) for one year.
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.
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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.
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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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Italy-based Mondo TV agreed to pay $538,000 to settle charges with the Treasury Department’s Office of Foreign Assets Control over 18 apparent violations of North Korea sanctions regulations.
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