The Securities and Exchange Commission’s (SEC) December 2021 announcement that J.P. Morgan Securities LLC had been fined $125 million for allegedly violating the agency’s recordkeeping rules amounted to a shot heard up and down Wall Street. The market regulator made clear that it took breaches of recordkeeping regulations seriously, and that the J.P. Morgan penalty… Read More >>
Wedbush Pays $16M to Resolve Recordkeeping Problems
Accusations don’t equal proof of guilt. Lawyers for a certain much-indicted ex-president will tell you that. However, multiple accusations by credible accusers aren’t a particularly good look, whether for a politician or a registered futures commission merchant. Which brings us to Wedbush Securities. The Commodity Futures Trading Commission (CFTC) recently ordered Los Angeles-based Wedbush Securities… Read More >>
Commerzbank, CFTC Settle Swap Ops Case for $12M
Commerzbank A.G. and the CFTC have agreed to settle allegations that the German bank failed to properly supervise its swap dealer activities, and then made misleading statements and material omissions to the CFTC about swap operations and compliance with key laws and regulations. A recently issued CFTC order compels Commerzbank, provisionally registered with the regulator… Read More >>
