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

-

FRS enforcements decreased 100% over the past 30 days

-

SEC issued enforcements: $59,971,440.07 over the past 30 days

-

78 Final Rules go into effect in the next 30 days

-

22 Mortgage Lending docs published in the last 7 days

-

103 docs with 1146 extracted obligations from the last 7 days

-

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

-

1735 new docs in pro.compliance.ai within the last 7 days

-

Introducing new content from WesPay

-

Enforcement Report Oct 10 - 16

FTC

9 Enforcement Documents

$115,000.00 in Fines

Penalties: N/A
Respondent: Altria Group, Inc. and JUUL Labs, Inc.
Violation: The parties jointly request an order further extending PWP’s deadline to file a motion to quash or limit the Subpoena to October 16, 2020; extending Complaint Counsel’s response deadline to October 23, 2020, and extending the deadline for PWP to file any motion for leave to file a reply, together with its proposed reply, pursuant to Rule 3.22(d), to October 28, 2020… Read More

Penalties: N/A
Respondent: Disruption Theory LLC, Emergent Technologies LLC, Marc Grisham, Courtney Grisham
Violation: Defendants’ fraudulent scheme exploits people who depend on telephone calls to talk with and support their incarcerated friends and family members… Read More

Penalties: $115,000.00
Respondent: Critical Resolution Mediation LLC, Parliament Services LLC, Brian Charles McKenzie
Violation: In connection with theDefendants’ deceptive and abusive debt-collection practices, including attempts to harass consumers into paying debts they do not owe… Read More

Penalties: N/A
Respondent: Peabody Energy Corporation, and Arch Coal Inc.
Violation: The Joint Motion states that Respondents Peabody Energy Corporation and Arch Coal, Inc. have informed Complaint Counsel that they have terminated their proposed acquisition and that Peabody has withdrawn its Hart-Scott-Rodino Notification and Report Forms for that transaction and has no intent to refile… Read More

FINRA

13 Enforcement Documents

$242,500.00 in Fines

Penalties: N/A
Respondent: Sean Michael Refsnider
Violation: In connection with FINRA’s investigation into whether Refsnider converted approximately $42,000 in funds belonging to his elderly Firm Customer A, Refsnider failed to provide FINRA with all of the documents and information that it had requested pursuant to FINRA Rule 8210, in violation of FINRA Rules 8210 and 2010… Read More

Penalties: $5,000.00
Respondent: Paul F. Seymour
Violation: NASD Rule 2510(b) prohibits registered representatives from “exercis[ing] any discretionary power in a customer’s account” unless the customer has provided prior written authorization to the representative and the account has been accepted as a discretionary account, in writing, by the representative’s member firm. A violation of NASD Rule 2510(b) is also a violation of FINRA Rule 2010… Read More

Penalties: $5,000.00
Respondent: Lonna R. Dehn Ristvedt
Violation: Respondent’s employer member firm prohibited its registered representatives from participating in private securities transactions without prior written approval from the firm… Read More

Penalties: $10,000.00
Respondent: Thomas Michael Rensvold
Violation: Rensvold, in his capacity as Planner’s AMLCO, failed to establish and implement an anti-money laundering (AML) compliance program reasonably designed to detect and cause the reporting of suspicious activity. As a result, Rensvold violated FINRA Rules 3310(a) and 2010… Read More

Penalties: $5,000.00
Respondent: John P. Borne
Violation: Borne violated FINRA Rule 2010 by intentionally altering his 2015 and 2016 federal income tax returns and producing the falsified documents in the Arbitration… Read More

Penalties: $60,000.00
Respondent: Planner Securities LLC Humberto Santos
Violation: During the period December 2015 to August 2017, the firm failed to establish and maintain a supervisory system, including written supervisory procedures, reasonably designed to achieve compliance with applicable securities laws and regulations and FINRA rules… Read More

Penalties: $5,000.00
Respondent: Yury Ivanou
Violation: Ivanou engaged in an outside business activity, specifically an apartment rental business, without timely or fully disclosing his activities to his firm. Accordingly, he violated FINRA Rules 3270 and 2010… Read More

Penalties: $12,500.00
Respondent: Marcus A. Beasley
Violation: Beasley engaged in three outside business activities, two related to financial services, and the other a ministry, without providing prior written notice to his member firm employers in violation of NASD Rules 3030 and 2110 and FINRA Rules 32701 and 2010… Read More

Penalties: N/A
Respondent: Joshua W. Conner
Violation: Conner converted approximately $5,600 from MWA Financial’s parent company, thereby violating FINRA Rule 2010… Read More

Penalties: $7,500.00
Respondent: Pratul V. Agnihotri
Violation: FINRA Rule 3270 provides, in relevant part: “[n]o registered person may be an employee, independent contractor, sole proprietor, officer, director or partner of another person, or be compensated, or have the reasonable expectation of compensation, from any other person as a result of any business activity outside the scope of the relationship with his or her member firm, unless he or she has provided prior written notice to the member, in such form as specified by the member.”… Read More

Penalties: $2,500.00
Respondent: Sonia Maria Fernandez
Violation: Fernandez circumvented UBS’s policies and procedures prohibiting employees from entering into financial relationships or transactions with customers absent pre-approval from the firm when she engaged in five transactions in which she used personal funds to cash checks drawn on two customers’ UBS accounts. By virtue of her misconduct, Fernandez violated FINRA 2010… Read More

Penalties: $100,000.00
Respondent: Jeffrey A. Broten
Violation: On September 24, 2020, in connection with an investigation into Respondent’s potentially unsuitable and unauthorized trading while associated with First Standard, FINRA sent a request to Respondent for on-the record testimony pursuant to FINRA Rule 8210… Read More

Penalties: $30,000.00
Respondent: Montrose Securities International Philip Y. Leung
Violation: Leung inaccurately classified certain of his personal expenses as business expenses on Montrose Securities’ general ledger, in violation of FINRA Rule 2010… Read More

CME

8 Enforcement Documents

$545,000.00 in Fines

Penalties: $100,000.00
Respondent: EC (PROPRIETARY TRADERS) PTE, LTD.
Violation: The CME Group Chief Regulatory Officer (“CRO”) charged EC (Proprietary Traders) Pte, Ltd. (“EC Prop”) with violating CME Rule 432.W. based on allegations that EC Prop failed to diligently supervise its traders, in the conduct of their business related to the Exchange, specifically their disruptive trading activity in the Euro, British Pound and Japanese Yen futures markets from February 7, 2018 to June 25, 2018… Read More

Penalties: $40,000.00
Respondent: GU FENG
Violation: Panel of the New York Mercantile Exchange (“NYMEX”) Probable Cause Committee charged Gu Feng (“Gu”) with violating NYMEX Rules 432.G. and 576 based on allegations that, on more than one occasion, between April 30, 2018 and May 2, 2018, Gu prearranged the execution of round-turn transactions in the DEC18 Palladium futures market between an account owned by Gu and another account owned by another individual for the purpose of transferring funds between these accounts… Read More

Penalties: $75,000.00
Respondent: LEI LIU
Violation: The CME Group Chief Regulatory Officer (“CRO”) charged Lei Liu (“Liu”) with violating CME Rule 575.A. based on allegations that Liu entered or caused to be entered an order with the intent, at the time of order entry, to cancel the order before execution or to modify the order to avoid execution in the Euro, British Pound and Japanese Yen futures markets from March 8, 2018 to May 28, 2018 On September 23, 2020, a Hearing Panel Chair of the CME Business Conduct Committee (“BCC”) first determined that Liu, having failed to submit a written answer to the charge issued against him, was deemed to have admitted the charge. Liu, therefore, waived his right to a hearing on the merits of the charge… Read More

Penalties: $40,000.00
Respondent: QIAO PENG
Violation: The CME Group Chief Regulatory Officer (“CRO”) charged Qiao Peng (“Peng”) with violating CME Rule 575.A. based on allegations that Peng entered or caused to be entered an order with the intent, at the time of order entry, to cancel the order before execution or to modify the order to avoid execution in the Euro and Japanese Yen futures markets from April 2, 2018 to June 26, 2018… Read More

Penalties: $30,000.00
Respondent: QIAN WANG
Violation: The CME Group Chief Regulatory Officer (“CRO”) charged Qian Wang (“Wang”) with violating CME Rule 575.A. based on allegations that Wang entered or caused to be entered an order with the intent, at the time of order entry, to cancel the order before execution or to modify the order to avoid execution in the Euro and British Pound futures markets on February 7, 2018… Read More

Penalties: $60,000.00
Respondent: QIU ZHI HAI
Violation: A Panel of the New York Mercantile Exchange (“NYMEX”) Probable Cause Committee charged Qiu Zhi Hai (“Qiu”) with violating NYMEX Rules 432.G., 432.L.1., and 576 based on allegations that, on more than one occasion, between April 30, 2018 and May 2, 2018, Qiu prearranged the execution of roundturn transactions in the DEC18 Palladium futures market between an account owned by Qiu and accounts owned by other individuals for the purpose of transferring funds between these accounts… Read More

Penalties: $200,000.00
Respondent: EC (PROPRIETARY TRADERS) PTE, LTD.
Violation: The CME Group Chief Regulatory Officer (“CRO”) charged EC (Proprietary Traders) Pte, Ltd. (“EC Prop”) with violating NYMEX Rules 432.W. and 576, based on allegations that EC Prop failed to diligently supervise its employees, in the conduct of their business related to the Exchange, specifically their disruptive trading activity from June 2016 to June 2017, and for permitting the entry of an order by an individual using a user ID other than the individual’s own unique user ID… Read More

FRS

2 Enforcement Documents

$546,000.00 in Fines

Penalties: N/A
Respondent: Weldon Riggs
Violation: while employed at First Savings Bank as the Director of Wholesale Lending, Riggs engaged in unsafe and unsound banking practices in connection with his supervision of a loan production office (“LPO”) in Louisville, Kentucky, by permitting the unauthorized management of the LPO by an individual (the “Branch Manager”) whom the Bank had declined to hire; and providing the Branch Manager with unauthorized access to Bank computer equipment and electronic credentials reserved for Bank employees… Read More

Penalties: $546,000.00
Respondent: Manufacturers and Traders Trust Company
Violation: Where a pattern or practice of violations under Section 102(f)(2) of the Act, 42 U.S.C. § 4012a(f)(2), is found, the Act requires that civil money penalties be imposed of up to $2,000 for each violation under Section 102(f)(5) of the Act, 42 U.S.C. § 4012a(f)(5)… Read More

CFPB

1 Enforcement Document

$4,000,000.00 in Fines

Penalties: $4,000,000.00
Respondent: Nissan Motor Acceptance Corporation
Violation: Respondent, through its repossession agents, therefore engaged in unfair acts and practices, in violation of the CFPA. 12 U.S.C. §§ 5531(c), 5536(a)(1)(B); Under section 1055(c) of the CFPA, 12 U.S.C. § 5565(c), by reason of the violations of law described in Section IV of this Consent Order, and taking into account the factors in 12 U.S.C. § 5565(c)(3), Respondent must pay a civil money penalty of $4 million to the Bureau… Read More

CFTC

2 Enforcement Documents

$7,599,345.00 in Fines

Penalties: $7,599,345.00
Respondent: Peter Szatmari
Violation: Defendant intentionally committed fraud in connection with his binary options which qualify as a “swap” under Section 1a(47)(A), 7 U.S.C. § 1a(47)(A). See Commodity Futures Trading Comm’n v. Vault Options, Ltd., Civ. No. 16- 01881, 2016 WL 5339716 at *6 (N.D. Ill. July 20, 2016) (stating that binary options are swaps)… Read More

SEC

10 Enforcement Documents

$62,599,181.00 in Fines

Penalties: $27,416,565.00
Respondent: J&F Investimentos, S.A., JBS, S.A., Joesley Batista, Wesley Batista
Violation: This action arises from a bribery scheme by Joesley Batista and Wesley Batista (hereinafter “the Batistas”), their company J&F, and JBS, a company which J&F and its affiliates control, and which is the largest meat and protein producer in the world with net revenues in 2019 in excess of $50 billion… Read More

Penalties: N/A
Respondent: Consorteum Holdings Inc. and Coates International Ltd.
Violation: CSRH 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 March 31, 2018… Read More

Penalties: N/A
Respondent: Daniel O’Neal
Violation: among other things, that from at least the fourth quarter of 2016 through the second quarter of 2018, O’Neal as CFO of Revolution’s largest division engaged in accounting practices that operated as a fraud and resulted in Revolution improperly recognizing revenue and reporting materially false revenue amounts in its financial statements filed with the Commission… Read More

Penalties: N/A
Respondent: Allen Garner
Violation: Among other things, that from at least the second quarter of 2015 through the second quarter of 2016, Garner as CFO of Revolution’s largest division engaged in accounting practices that operated as a fraud and resulted in Revolution improperly recognizing revenue and reporting materially false revenue amounts in its financial statements filed with the Commission… Read More

Penalties: $20,000,000.00
Respondent: Andeavor LLC
Violation: This matter involves Andeavor’s failure to devise and maintain a system of internal accounting controls sufficient to provide reasonable assurance that stock buyback transactions were executed in accordance with management’s authorization… Read More

Penalties: $15,182,616.00
Respondent: Bankrate, Inc.
Violation: during the second quarter of 2012, Bankrate, through its chief financial officer, Edward DiMaria (“DiMaria”), vice president and director of accounting, Matthew Gamsey (“Gamsey”), and vice president of finance, Lerner, intentionally manipulated its financial results to meet and/or exceed analyst consensus estimates for key financial metrics… Read More

Penalties: N/A
Respondent: Token Communities Ltd.
Violation: TKCM 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 June 30, 2018… Read More

Penalties: N/A
Respondent: James Depalma, CPA
Violation: Among other things, that from at least the fourth quarter of 2014 through the second quarter of 2018, DePalma as board member and Chief Financial Officer of Revolution engaged in disclosure and accounting practices that operated as a fraud and resulted in Revolution improperly recognizing revenue and reporting materially false revenue amounts in its financial statements filed with the Commission… Read More

X