Regulators Slapped Industry with Almost $7b Fines in 2022
2022 saw an unprecedented surge in fines issued by global financial services regulators, according to SteelEye’s Fine Tracker. Its newest report analyzed financial penalties imposed by five key regulators showing that the overall amount of fines exceeded $7 billion. SteelEye’s inaugural Fine Tracker analyzed financial penalties issued by the US Securities and Exchange Commission (SEC), […]
Morgan Stanley Fines Employees Up to $1M for Messaging Breaches
Morgan Stanley, a New York-based global investment bank, has penalized some of its employees with fines ranging between a few thousands of dollars to over $1 million for using messaging platforms such as WhatsApp to discuss official business. Sources told the Financial Times, which first broke the news, that Morgan Stanley used factors such as […]
SEC Fines Bloomberg $5M over Disclosure Failure on Fixed Income Prices
The US Securities and Exchange Commission (SEC Securities and Exchange Commission (SEC) The Securities and Exchange Commission (SEC) is one of the most widely known independent authorities in the United States. The SEC has a wide range of responsibilities, helping police markets and curbing against abuse. This includes enforcing federal securities laws, proposing securities rules, […]
FINRA Fines Nomura Securites $125k for Miscalculating Its Net Capital
The Financial Industry Regulatory Authority (FINRA) has hit Nomura Securities International, an institutional brokerage firm, with a censure and fine of $125,000 for allegedly inaccurately calculating its net capital between July 2019 and March 2021 and violating other four rules as a result. AloGatewayis a Global payment processing service and solutions provider able to cater […]
NFA Fines StoneX Markets $1M for Compliance Failures
The National Futures Association (NFA) has fined swap dealer member StoneX Markets LLC, a subsidiary of StoneX Group, $1 million for multiple charges of compliance Compliance In finance, banking, investing, and insurance compliance refers to following the rules or orders set down by the government regulatory authority, either as providing a service or processing a […]
SIX Group Fines Swissquote for Publicity Violation
The Sanctions Commission of SIX Group has issued a fine of CHF 75,000 against Swissquote Group Holding SA, an online financial and trading services provider, for allegedly violating its provision on ad hoc publicity. AloGatewayis a Global payment processing service and solutions provider able to cater to a multitude of clients ranging from small family-owned […]