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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 Dec 26 - Jan 01

FTC

Penalties: N/A
Respondent: Thomas Jefferson University; Albert Einstein Healthcare Network
Violation: Respondents’ motion for withdrawal of the matter from adjudication under Rule 3.26(c) should be granted… Read More

Penalties: N/A
Respondent: CoStar Group Inc and RentPath Holdings Inc.
Violation: Respondent RentPath publicly announced that it has terminated the agreement to be acquired by CoStar… Read More

Penalties: N/A
Respondent: Louisiana Real Estate Appraisers Board
Violation: LREAB respectfully submits that no in-person administrative proceeding should take place until all participants, including the Administrative Law Judge, witnesses, counsel, and staff, are vaccinated against COVID-19… Read More

Penalties: N/A
Respondent: Methodist Le Bonheur Healthcare; Tenet Healthcare Corporation,
Violation: Having considered the motion, it is hereby ORDERED: The Joint Motion to Dismiss Complaint, dated December 23, 2020… Read More

Penalties: N/A
Respondent: Traffic Jam Events LLC., David J Jeansonne II
Violation: Complaint Counsel having moved that this matter be withdrawn from adjudication in order to enable the Co1mnission to consider a proposed consent agreement, and Respondents consenting to the motion… Read More

CME

5 Enforcement Documents

$165,000.00 in Fines

Penalties: $30,000.00
Respondent: Burr Jennings
Violation: On June 26, 2019, a Panel of the Commodity Exchange (“COMEX”) Probable Cause Committee (the “PCC Panel”) charged Burr Jennings (“Jennings”) with violating Exchange Rule 534 based on allegations that on various occasions, between April 2017 and October 2017, Jennings entered numerous buy and sell orders in various E-micro Gold futures contracts for accounts controlled by Jennings, of Jennings Capital Management (“Jennings Capital” or the “Firm”), with the intention that the orders trade opposite each other to avoid taking a bona fide position exposed to market risk… Read More

Penalties: $45,000.00
Respondent: Myung Hee Park
Violation: On May 4, 2020, the Chief Regulatory Officer of the CME Group’s Designated Contract Markets charged Myung Hee Park with violating CME Rule 539.A. based on allegations that on one or more occasions between November 2018, and December 2018, Hee pre-arranged or pre-negotiated the purchase or sale of December 2018 E-Mini Nasdaq futures on Globex… Read More

Penalties: $35,000.00
Respondent: Deok Yeon La
Violation: On May 4, 2020, the Chief Regulatory Officer of the CME Group’s Designated Contract Markets charged Deok Yeon La with violating CME Rule 539.A. based on allegations that on one or more occasions between November 2018, and December 2018, La pre-arranged or pre-negotiated the purchase or sale of December 2018 E-Mini Nasdaq futures on Globex… Read More

Penalties: $20,000.00
Respondent: Hyun Chil Cho
Violation: On May 4, 2020, the Chief Regulatory Officer of the CME Group’s Designated Contract Markets charged Hyun Chil Cho with violating CME Rule 539.A. based on allegations that on one or more occasions between November 2018, and December 2018, Cho pre-arranged or pre-negotiated the purchase or sale of December 2018 E-Mini Nasdaq futures on Globex… Read More

Penalties: $35,000.00
Respondent: Min Jae Park
Violation: On May 4, 2020, the Chief Regulatory Officer of the CME Group’s Designated Contract Markets charged Min Jae Park with violating CME Rule 539.A. based on allegations that on one or more occasions between November 2018, and December 2018, Jae pre-arranged or pre-negotiated the purchase or sale of December 2018 E-Mini Nasdaq futures on Globex… Read More

TREAS

2 Enforcement Documents

$752,177.00 in Fines

Penalties: $653,347.00
Respondent: National Commercial Bank
Violation: Between November 7, 2011 and August 28, 2014, NCB processed, directly or indirectly, 13 U.S. dollar (USD) transactions totaling $5,918,560 to or through the United States in circumstances where a benefit of NCB’s service was received by Sudanese or Syrian counterparties, or that involved goods originating in or transiting through Sudan or Syria… Read More

Penalties: $98,830.00
Respondent: BitGo, Inc.
Violation: BitGo failed to exercise due caution or care for its sanctions compliance obligations when it failed to prevent persons apparently located in sanctioned jurisdictions to open accounts and send digital currencies via its platform as a result of a failure to implement appropriate, risk-based sanctions compliance controls… Read More

CFPB

2 Enforcement Documents

$2,175,000.00 in Fines

Penalties: $2,175,000.00
Respondent: Omni Financial of Nevada, Inc d/b/a Omni Financial and Omni Military Loans
Violation: Omni has benefited from this practice because the allotment system helps guarantee payment on unsecured loans, meaning that borrowers who repay by allotment have lower delinquency and default rates… Read More

FINRA

8 Enforcement Documents

$12,073,258.00 in Fines

Penalties: $6,500,000.00
Respondent: LPL Financial LLC
Violation: LPL failed to establish and maintain a supervisory system, including written procedures, reasonably designed to achieve compliance with three regulatory obligations: record retention, fingerprinting and screening of associated persons, and supervision of consolidated reports… Read More

Penalties: $252,740.00
Respondent: B. Riley Wealth Management
Violation: From January 1, 2013 through June 30, 2018, BRWM failed to establish and maintain a supervisory system reasonably designed to supervise representatives’ recommendations to customers to purchase particular share classes of 529 savings plans in violation of MSRB Rule G-27… Read More

Penalties: $5,000.00
Respondent: Jason P. Collichio
Violation: From January 2015 to August 2017, Collichio failed to reasonably supervise two former registered representatives at WCM, Registered Representatives 1 and 2, who engaged in a pattern of recommending unsuitable active trading strategies to customers and churned customer accounts… Read More

Penalties: $2,500,000.00
Respondent: Deutsche Bank Securities Inc.
Violation: For the period of 1998 through 2017, DBSI did not establish and maintain a supervisory system reasonably designed to achieve compliance with its record retention obligations in violation of NASD Rules 3010 and 2110 and FINRA Rules 3110 and 2010… Read More

Penalties: $350,000.00
Respondent: Worden Capital Management LLC Jamie J. Worden
Violation: From January 2015 to October 2019, WCM and Worden failed to establish, maintain, and enforce a supervisory system, including written supervisory procedures (WSPs), reasonably designed to achieve compliance with FINRA’s suitability rule as it pertains to excessive trading… Read More

Penalties: $1,460,518.00
Respondent: Morgan Stanley Smith Barney LLC
Violation: From January 1, 2013, through June 30, 2018, Morgan Stanley failed to establish and maintain a supervisory system reasonably designed to supervise representatives’ recommendations to customers to purchase particular share classes of 529 savings plans in violation of MSRB Rule G-27… Read More

Penalties: $5,000.00
Respondent: Daniel Peter Daly
Violation: From March 2010 to May 2019, Daly willfully failed to disclose seven federal tax liens totaling approximately $200,000 via the timely filing of an amended Uniform Application for Securities Industry Registration of Transfer (Form U4). By virtue of this conduct, Daly violated Article V, Section 2(c) of FINRA’s By-Laws and FINRA Rules 1122 and 2010… Read More

Penalties: $1,000,000.00
Respondent: SG Americas Securities, LLC
Violation: From April 2004 to the present, SGAS failed to establish and maintain a supervisory system reasonably designed to comply with its record retention obligations in violation of NASD Rules 3010 and 2110 and FINRA Rules 3110 and 2010… Read More

SEC

19 Enforcement Documents

$67,960,812.00 in Fines

Penalties: N/A
Respondent: Larry Louis Matyas
Violation: The Commission’s complaint alleged that Respondent, using the mails or other means or instrumentalities of interstate commerce, effected transactions in, or induced or attempted to induce the purchase and sale of, securities and received commissions while he was not registered with the Commission as a broker or dealer nor while he was associated with an entity registered with the Commission as a broker or dealer… Read More

Penalties: N/A
Respondent: Stefan Qin & Virgil Technologies LLC, Montgomery Technologies LLC, Virgil Quantitative Research LLC, Virgil Capital LLC, and VQR Partners LLC
Violation: According to the SEC’s complaint, Qin and his entities have been defrauding investors in the Sigma Fund since at least 2018 by making material misrepresentations about the fund’s strategy, assets, and financial condition… Read More

Penalties: $10,000.00
Respondent: OTR, Inc.,
Violation: OTR willfully violated Section 17A(d)(1) of the Exchange Act and Rule 17Ad-12 thereunder, which require every registered transfer agent with custody or possession of any funds or securities related to the transfer agent’s activities to assure that… Read More

Penalties: $2,067,152.00
Respondent: Bowser et al.
Violation: Bowser diverted investor funds earmarked for specific properties and instead used them for Noah Corporation’s and Bowser’s operational and other expenses and to pay prior investors, rather than for construction of event centers as represented to investors… Read More

Penalties: N/A
Respondent: Gregory Altieri
Violation: Altieri allegedly guaranteed investors that they would quickly receive a return on their investment ranging from approximately 30% of their initial investment to, in some instances, over 100%… Read More

Penalties: N/A
Respondent: DeAndre P. Sears et al.
Violation: During that period,
Sears was identified in EquiAlt private placement memoranda as Managing Director of Investments, President of Business Development and Marketing, or Vice President of Investor Relations… Read More

Penalties: N/A
Respondent: Jason Peltz
Violation: Peltz placed his trades using accounts held in the names of others, including the account of a British Virgin Islands company… Read More

Penalties: $17,100,000.00
Respondent: Joseph Taub
Violation: The SEC’s complaint, filed on December 12, 2016 and amended on April 26, 2018, alleged that Taub engaged in a fraudulent market manipulation scheme, utilizing dozens of securities accounts at several brokerage firms to create the false appearance of trading interest and activity in particular exchange-traded securities, thereby enabling him to purchase stocks at artificially low prices and then quickly sell them at artificially high prices for substantial profits… Read More

Penalties: $3,562,263.00
Respondent: Anthony Thompson, Jr., Jay Fung, Eric Van Nguyen
Violation: The SEC’s complaint in this action, filed in November 2014, alleged that Anthony Thompson, Jr., Jay Fung, and a third defendant, Eric Van Nguyen, worked in concert to gain control of a large portion of shares in the stock of microcap companies, then hyped those stocks in newsletters they distributed to prospective investors… Read More

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