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1558 Enforcement Actions in the U.S. over past 30 days

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FTC enforcements decreased 55% over the past 30 days

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SEC issued enforcements: $37,812,859 over the past 30 days

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50 Final Rules go into effect in the next 7 days

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49 Mortgage Lending docs published in the last 7 days

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1670 docs with extracted obligations from the last 7 days

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new Proposed and Final Rules were published in the past 7 days

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11906 new docs in pro.compliance.ai within the last 7 days

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Enforcement Report Nov 14 - 20

FTC

Penalties: N/A
Respondent: Traffic Jam Events, LLC and David J. Jeansonne II
Violation: Complaint Counsel contends that PPP has acknowledged it possesses responsive documents but has failed to produce any responsive material and that therefore Complaint Counsel is entitled to an order compelling such production by PPP, pursuant to the authority of FTC Rule 3.38… Read More

Penalties: N/A
Respondent: Beam Financial Inc. and Yinan Du
Violation: Defendants Misrepresent That Consumers Will Have “24/7” Access to Their Funds and Can Withdraw Funds Any Time… Read More

Penalties: N/A
Respondent: American Financial Benefits Center, Ameritech Financial, Financial Education Benefits Center, Brandon Demond Frere
Violation: Defendants participated in deceptive acts or practices in violation of Section 5(a) of the FTC Act, 15 U.S.C. 45(a), and the Telemarketing Sales Rule, 16 C.F.R. 310, in connection with the advertising, marketing promotion, offering for sale, or sale of debt relief services… Read More

Penalties: N/A
Respondent: Health Research Laboratories LLC.
Violation: The defendants deceptively marketed two of their health products, BioTherapex and NeuroPlus… Read More

CFPB

Penalties: N/A
Respondent: U.S. Equity Advantage Inc. and Robert M. Steenbergh
Violation: U.S. Equity Advantage, Inc. and Robert M. Steenbergh (collectively Respondents), under 12 U.S.C. §§ 5563 and 5565, for certain marketing practices in violation of the CFPA’s prohibition on unfair, deceptive, or abusive acts or practices, 12 U.S.C. §§ 5531, 5536… Read More

Penalties: N/A
Respondent: FDATR Inc., Dean Tucci, and Kenneth Wayne Halverson
Violation: Deceptive and abusive telemarketing acts or practices that violate the Telemarketing and Consumer Fraud and Abuse Prevention Act, 15 U.S.C. §§ 6101–6108, and the Telemarketing Sales Rule (TSR), 16 C.F.R. §§ 310.3, 310.4, and deceptive acts or practices that violate §§ 1031 and 1036 of the Consumer Financial Protection Act of 2010 (CFPA), 12 U.S.C. §§ 5531, 5536… Read More

CME

4 Enforcement Documents

$165,760.00 in Fines

Penalties: $40,000.00
Respondent: Starfuels Inc.
Violation: Pursuant to an offer of settlement that Starfuels Inc. (“Starfuels”) presented at a hearing on November 18, 2020, in which Starfuels neither admitted nor denied the findings, conclusions or any rule violations upon which the penalty is based, a Panel of the NYMEX Business Conduct Committee (“Panel”) found that during the month of July 2019, Starfuels submitted numerous block trades in various Energy Platts futures contracts with inaccurate execution times… Read More

Penalties: $40,000.00
Respondent: Libra Fearnley Energy
Violation: Pursuant to an offer of settlement that Libra Fearnley Energy (“Fearnley”) presented at a hearing on November 18, 2020, in which Fearnley neither admitted nor denied the findings or conclusions or any rule violations upon which the penalty is based, a Panel of the NYMEX Business Conduct Committee (“Panel”) found that during the time period of September 1, 2019 through September 30, 2019… Read More

Penalties: $25,760.00
Respondent: Logista Capital LLC
Violation: Pursuant to an offer of settlement, in which Logista Capital LLC (“Logista”) neither admitted nor denied the rule violation upon which the penalty is based, on November 18, 2020, a Panel of the NYMEX Business Conduct Committee (“BCC”) found that, at the close of business on April 23, 2020, Logista held a futures equivalent short position of 2,605 contracts in May 2020 Henry Hub Natural Gas Futures (“MAY20 NG”) contracts, which was 96 contracts, or 3.83%, in excess of Logista’s approved hedge exemption in effect for close of business on April 23, 2020… Read More

Penalties: $60,000.00
Respondent: BGC Financial L.P.
Violation: Pursuant to an offer of settlement that BGC Financial, L.P. (“BGC”) presented at a hearing on November 18, 2020, in which BGC neither admitted nor denied the rule violations upon which the penalty is based, a Panel of the COMEX Business Conduct Committee (“Panel”) found that during June 2019, BGC submitted multiple block trades in Gold and Silver futures and options spreads to the Exchange with inaccurate execution times… Read More

FINRA

11 Enforcement Documents

$222,119.81 in Fines

Penalties: N/A
Respondent: Lynn Dale Cawthorne
Violation: Cawthorne failed to comply with FINRA’s requests for information made pursuant to FINRA Rule 8210 in June, August, September, and November 2019 in connection with an investigation of (a) his failure to disclose multiple felony charges and (b) other potential violations. As a result, Cawthorne violated FINRA Rules 8210 and 2010… Read More

Penalties: N/A
Respondent: Ji Jun Yang
Violation: From September 2015 through November 2018, while associated with RBC Capital Markets, LLC (the firm), Respondent Ji Jun Yang converted approximately $41,000 from the firm by causing it to pay for fictitious meal and taxi expenses charged to Yang’s firmissued corporate credit card… Read More

Penalties: $10,000.00
Respondent: John Hillman Timberlake
Violation: From March 2014 through August 2019,while associated with nvo member ftrms, Timberlake used his personal cellular phone to exchange numerous business and securities-related text messages with two customers without providing copies to the firms, thereby preventing the firms from preserving the communications. As a result, Timberlake violated FINRA Rules 4511 and 2010… Read More

Penalties: $55,000.00
Respondent: Southern Trust Securities, Inc. Susan Molina Escobio
Violation: Respondents failed to develop and implement an antimoney laundering (AML) program that was reasonably designed to achieve and monitor the firm’s compliance with the Bank Secrecy Act and the implementing regulations thereunder… Read More

Penalties: $5,000.00
Respondent: David T. Phillips
Violation: Between May 2017 and April 2018, Respondent participated in private securities transactions totaling $876,636, without prior disclosure to, and approval from his employer member firm… Read More

Penalties: $20,000.00
Respondent: Efrain B. Trujillo
Violation: Between December 2013 and July 2017, while registered with Financial West, Trujillo failed to supervise four former Financial West registered representatives, who excessively traded and recommended qualitatively unsuitable trades involving options, low-priced securities, and Non-Traditional Exchange Traded Products (ETPs) in nine accounts belonging to five customers… Read More

Penalties: $24,687.00
Respondent: Vincent A. Virga
Violation: Between May and June 2018, Virga recommended that a customer purchase $480,000 in mutual funds, but failed disclose to the customer available cost savings, including those provided through rights of accumulation, breakpoint levels, and choosing to purchase mutual funds in the same fund family, in violation of FINRA Rules 2111 and 2010… Read More

Penalties: N/A
Respondent: Matthew Thomas Jennings
Violation: In October 2020, Jennings refused to respond to a request for the production of information and documents issued pursuant to FINRA Rule 8210, in violation of FINRA Rules 8210 and 2010… Read More

Penalties: $25,000.00
Respondent: Dealerweb Inc.
Violation: From April 2016 through March 2019, Dealerweb failed to report approximately 147,000 trades to the Municipal Securities Rulemaking Board’s (MSRB) Real-time Transaction Reporting System (RTRS) in increments of seconds. As a result, Dealerweb violated MSRB Rule G-14 during the period… Read More

Penalties: $10,000.00
Respondent: Kurt Jason Gunter
Violation: From July 2013 through December 2016, Gunter engaged in an unsuitable pattern of short-term trading of Unit Investment Trusts in customer accounts. Based on the foregoing, Gunter violated FINRA Rules 2111 and 2010… Read More

Penalties: $72,432.81
Respondent: Brett S. Briggs
Violation: Between December 2013 and July 2017, while registered with Financial West, Briggs failed to supervise four former Financial West registered representatives, who excessively traded and recommended qualitatively unsuitable trades involving options, low-priced securities, and Non-Traditional Exchange Traded Products (ETPs)6 in nine accounts belonging to five customers… Read More

SEC

6 Enforcement Documents

$44,033,344.33 in Fines

Penalties: $276,466.70
Respondent: VCAP Securities, LLC and Brett Thomas Graham
Violation: The Commission issued an Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Sections 15(b)(4), 15(b)(6), and 21C of the Securities Exchange Act of 1934, Section 203(f) of the Investment Advisers Act of 1940, and Section 9(b) of the Investment Company Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order (the “Order”)1 against VCAP Securities, LLC (“VCAP”) and Brett Thomas Graham (“Graham”) (collectively, the “Respondents”)… Read More

Penalties: $42,847,123.63
Respondent: Barclays Capital Inc.
Violation: The United States Securities and Exchange Commission (“Commission”) issued an Order Instituting Administrative and Cease-and-Desist Proceedings Pursuant to Section 8A of the Securities Act of 1933, Section 15(b) of the Securities Exchange Act of 1934, and Sections 203(e) and 203(k) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-Desist Order (“Order”)1 against Barclays Capital Inc. (“Respondent”)… Read More

Penalties: $653,904.00
Respondent: Richard W. Davis, Jr., et al.
Violation: In connection with a scheme to defraud advisory clients and misappropriate investment funds… Read More

Penalties: N/A
Respondent: Nexus Enterprise Solutions, Inc. and N-Viro International Corporation
Violation: NXES has failed to comply with Exchange Act Section 13(a) and Rules 13a-1 and 13a-13 thereunder because it has not filed any periodic reports with the Commission since the period ended September 30, 2017… Read More

Penalties: $255,850.00
Respondent: Winston Reed Investments LLC
Violation: Respondent,s “Petition for Rehearing” received by the Department on February 20, 2020, was received forty-one days outside the requisite ten days rom the date of mailing… Read More

Penalties: N/A
Respondent: Petroleo Brasileiro, S.A. – Petrobras
Violation: Accordingly, IT IS ORDERED that Miller Kaplan, pursuant to and in accordance with the Omnibus Order, is appointed the Tax Administrator for the QSF in the above referenced proceeding… Read More

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