- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2024-10-01T15:38:00
Broker-dealer TD Securities failed to prevent a trader from placing and then withdrawing thousands of false trades over the course of a year in part because its compliance department failed to follow up on red flags generated by the illegal trades, three regulators said.
TD Securities (TDS), a subsidiary of TD Bank, failed to prevent the head of its securities desk in New York from spoofing the U.S. Treasury cash securities market for 13 months between 2018-19.
The trader, Jeyakumar Nadarajah, is accused of entering false orders on one side of the market to obtain more favorable execution prices on the other side. In November 2023, he was indicted in U.S. District Court for the District of New Jersey for his role in the scheme and is awaiting trial.
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
2025-01-13T17:32:00Z By Aaron Nicodemus
A broker-dealer subsidiary of Toronto-based BMO Financial Group will pay nearly $41 million in penalties to the Securities and Exchange Commission to settle allegations that its traders issued misleading disclosures on bonds for three years, causing $19 million in harm to its customers.
2024-12-16T14:45:00Z By Aaron Nicodemus
New York-based SeaCrest Wealth Management will pay a $375,000 fine for failing to properly prevent a cherry-picking scheme perpetrated by one of its investment advisers.
2024-09-13T13:09:00Z By Adrianne Appel
TD Bank has been ordered to pay $27.7 million and implement compliance measures, for providing inaccurate, negative credit information to credit agencies about tens of thousands of its customers and taking too long to fix the errors, the Consumer Financial Protection Bureau said.
2025-03-27T13:11:00Z By Jeff Dale
The U.K. Financial Reporting Council issued penalties against PwC and a former auditor over deficiencies on work related to the 2019 financial statements of now shuttered Wyelands Bank.
2025-03-27T12:49:00Z By Aaron Nicodemus
Yet another government contractor has been slapped with a fine by the Department of Justice for applying lax cybersecurity defenses on sensitive government data.
2025-03-26T18:48:00Z By Oscar Gonzalez
The European Commission released its preliminary findings last week regarding Apple and Google not complying with the Digital Markets Act. It issued orders to both companies regarding their business practice and plans to release all of its findings next week.
Site powered by Webvision Cloud