- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Kyle Brasseur2023-07-17T17:54:00
Financial services firm Cantor Fitzgerald agreed to pay a $1.4 million penalty as part of a settlement with the Securities and Exchange Commission (SEC) addressing alleged reporting failures.
The lapses occurred regarding Cantor’s failure to identify and report more than 100 customers as large traders as defined by Rule 13h-1 of the Exchange Act, the SEC alleged in an administrative proceeding published Friday. The regulator also faulted the firm for failing to make required filings on its own behalf as a large trader.
From at least August 2017 until May, Cantor failed to maintain records for persons it had reason to know met the criteria of a large trader, which Rule 13h-1 defines as “market participants that exercise investment discretion and effect transactions in a substantial amount of national market system securities,” the SEC said.
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Government healthcare services corporation Maximus settled with the Securities and Exchange Commission for allegedly failing to disclose an executive’s two siblings were also employed by the company and received annual compensation of more than $120,000.
The Securities and Exchange Commission ordered Florida-based fund administrator Theorem Fund Services to pay more than $122,000 to settle allegations it missed red flags regarding a $39 million fraud.
The Securities and Exchange Commission announced the appointments of Natasha Vij Greiner and Keith Cassidy as interim acting co-directors of the Division of Examinations while Director Richard Best is on medical leave.
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.
