News

U.S. securities regulators imposed a $1.5 million penalty Wednesday on a broker-dealer in Colorado that failed to file suspicious activity reports or submitted incomplete filings on hundreds of cyberthefts. From September 2015 to October 2018, GWFS Equities, an affiliate of Great-West Life & Annuity Insurance Company in Greenwood Village, Colorado, filed nearly 300 SARs to the U.S. Treasury Department that left out IP addresses, URLs or other vital data on the parties involved, the Securities and Exchange Commission disclosed. The firm, which handles trading for clients of Great-West's employer-sponsored retirement plans and other individual pension and brokerage accounts, additionally refrained...