News
US Securities Regulator Penalizes Chief Executive, AML Officers at New York Brokerage
By Daniel Bethencourt
printFederal regulators on Wednesday disclosed individual actions against the chief executive and two former anti-money laundering compliance officers of a New York broker-dealer for failing to file suspicious activity reports, or SARs, on hundreds of low-priced securities. In an 18-page order, the Securities and Exchange Commission, or SEC, claimed that the broker dealer, Aegis Capital Corporation, repeatedly failed to act on warnings from its clearing firm that hundreds of high-volume trades of cheap and previously dormant stocks from December 2012 through early-2014 indicated potential pump-and-dump schemes. Aegis’ chief executive officer, Robert Eide, must pay the SEC $40,000 for failing to...
TO READ THE FULL STORY
Related Enforcement Actions
The U.S. Securities and Exchange Commission issued a order requiring Robert Eide and Kevin McKenna to pay penalties of $40,000 and $20,000, respectively in connection to Aegis Capital Corporation's anti-money laundering and Bank Secrecy Act violations.
March 28, 2018
The U.S. Securities and Exchange Commission issued a $750,000 monetary penalty against the New York, NY-based company also censuring it and requiring it to cease and desist violations of law related to the failure to file suspicious activity reports and Bank Secrecy Act compliance.
March 28, 2018
The U.S. Securities and Exchange Commission issued a cease and desist order against the former anti-money laundering Compliance Officer for New York, NY-based company for failure to file suspicious activity reports in violation of anti-money laundering compliance measures.
March 28, 2018
The Financial Industry Regulatory Authority issued a letter of acceptance, waiver and consent requiring the New York, NY-based firm to pay a $550,000 fine and censuring it for failure to have adequate supervisory and anti-money laundering programs designed to detect suspicious transactions.
March 28, 2018