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- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Adrianne Appel2023-01-06T18:26:00
UBS Securities, the investment bank division of Swiss banking giant UBS, agreed to pay $3.75 million to settle allegations brought by the Financial Industry Regulatory Authority (FINRA) that its failure to adequately supervise compliance staff led to millions of violations of options trading reporting requirements.
UBS Securities was obligated under FINRA rules to reasonably investigate possible rule violations and address them, the self-regulatory organization said in a consent order Thursday.
UBS’s failure to adequately investigate red flags led to 7.1 million violations of FINRA options reporting rules between January 2010 and September 2021, according to the order. The alleged lapses included large options position report (LOPR) alerts not being investigated or addressed.
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News and analysis for the well-informed compliance or audit exec.
Annual Membership best value
Subscribe now for $365
Our lowest price ($1 per day) for one year.
2023-04-05T17:36:00Z By Kyle Brasseur
Goldman Sachs was fined $3 million by the Financial Industry Regulatory Authority for mismarking nearly 60 million short sell orders as long and related supervision failures.
2022-10-03T16:45:00Z By Aaron Nicodemus
The Financial Industry Regulatory Authority increased penalties for member violations of securities rules, including removing upper limits on fines for certain instances of misconduct.
2022-07-01T16:36:00Z By Jeff Dale
Barclays Capital agreed to pay $2.8 million as part of a settlement with the Financial Industry Regulatory Authority for “failure to comply with customer confirmation and related supervision rules” that led to disclosure lapses.
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.
2024-07-02T14:42:00Z By Adrianne Appel
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.
2024-07-02T13:50:00Z By Aaron Nicodemus
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.
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