The Commodity Futures Trading Commission (CFTC) has awarded more than $4 million to an insider whistleblower. The award recognizes the whistleblower’s crucial contributions to an investigation that exposed ongoing violations of CFTC rules, ultimately leading to enforcement action against the perpetrators.
Merrill Lynch and its parent company, Bank of America, have agreed to pay a $3 million fine and accept a censure from the Financial Industry Regulatory Authority (FINRA) for failing to properly monitor potentially manipulative trading activities by their customers. The settlement, announced on August 28, addresses violations that occurred from 2015 to present at Merrill Lynch and from 2019 to present at Bank of America Securities, the bank's institutional broker-dealer.
The European Banking Authority (EBA) has endorsed the Dutch Central Bank's (DNB) decision to extend a key macroprudential measure, underscoring persistent systemic risks in the Netherlands' residential real estate market and emphasizing the ongoing challenge of building financial sector resilience.
The Commodity Futures Trading Commission (CFTC) has ordered Nasdaq Futures, Inc. to pay a $22 million civil monetary penalty. The penalty stems from the company's failure to adhere to core regulatory principles, its lack of full disclosure regarding incentive programs, and for providing false and misleading information to the CFTC.
The New York Department of Financial Services (DFS) has reached a $35 million settlement with Nordea Bank Abp over serious compliance failures and inadequate due diligence practices. The settlement, announced on August 27, 2024, by DFS Superintendent Adrienne A. Harris, follows an extensive investigation into the bank's role in facilitating potentially illicit financial activities.
The Information Commissioner's Office (ICO) has issued a formal reprimand to the UK Labour Party for repeatedly failing to respond to subject access requests (SARs) within the legally mandated timeframe. This action follows an investigation prompted by over 150 complaints received by the ICO between November 2021 and November 2022.
The Securities and Exchange Commission (SEC) has announced significant changes to reporting requirements for registered investment companies, aimed at improving transparency and oversight in the fund industry.