- 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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2023-09-13T15:39:00Z By Jeff Dale
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.
2023-08-08T19:09:00Z By Jeff Dale
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.
2023-07-25T17:40:00Z By Jeff Dale
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.
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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