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

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FRS enforcements decreased 100% over the past 30 days

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

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78 Final Rules go into effect in the next 30 days

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31 Mortgage Lending docs published in the last 7 days

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103 docs with 1146 extracted obligations from the last 7 days

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

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1973 new docs in pro.compliance.ai within the last 7 days

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Introducing new content from WesPay

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CFPB

1 Enforcement Document

$0.00 in Fines

Penalties: N/A
Respondent: Encore Capital Group Inc., Midland Funding LLC., Midland Credit Management Inc., and Asset Acceptance Capital Corp.
Violation: The 2020 Stipulated Order, which imposes continuing obligations on Encore related to the claims in the Bureau’s 2020 court action, supersedes the 2015 Consent Order, which was set to expire on September 8, 2020 but was extended by the Bureau’s filing of the 2020 court action… Read More

FINCEN

1 Enforcement Document

$0.00 in Fines

Penalties: N/A
Respondent: Larry Dean Harmon d/b/a Helix
Violation: FinCEN has determined that, from on or about June 6, 2014 through December 3, 2019, Mr. Harmon, doing business as Helix, willfully violated the BSA’s registration, program, and reporting requirements.6 Mr. Harmon, doing business as Helix, willfully (a) failed to register as a money services business;7 (b) failed to implement and maintain an effective anti-money laundering (AML) program; 8 and (c) failed to report certain suspicious activity… Read More

FTC

7 Enforcement Documents

$0.00 in Fines

Penalties: N/A
Respondent: Altria Group, Inc. and JUUL Labs, Inc.
Violation: The Motion is GRANTED and it is hereby ORDERED that Turning Point’s deadline for filing any motion to limit or quash the subpoenas pursuant to Rule 3.34(c) is extended November 6, 2020… Read More

Penalties: N/A
Respondent: Traffic Jam Events LLC., and David J. Jeansonne II.
Violation: Respondents are “shirking their discovery obligations at every turn.” But Complaint Counsel is merely grasping for straws and trying to support an unsubstantiated claim that discoverable information is simply whatever they want them to be… Read More

CME

5 Enforcement Documents

$165,000.00 in Fines

Penalties: $30,000.00
Respondent: Gianluca Cedolia
Violation: Pursuant to an offer of settlement that Gianluca Cedolia (“Cedolia”) presented at a hearing on October 21, 2020, in which Cedolia neither admitted nor denied the rule violation upon which the below penalty is based, a Panel of the NYMEX Business Conduct Committee (“BCC Panel”) found that, between January 2019 and June 2019, Cedolia engaged in disruptive trading activity in the Crude Oil Futures contract markets by entering orders without the intent to trade… Read More

Penalties: $30,000.00
Respondent: Sino Treasure Metal Holding LTD.
Violation: Pursuant to an offer of settlement Sino Treasure Metal Holding Ltd. (“Sino”) presented at a hearing on October 21, 2020, in which Sino neither admitted nor denied the rule violation upon which the penalty is based, a Panel of the Business Conduct Committee found that at the close of business on April 23, 2020, Sino and its affiliate, Xinden Trading PTE LTD (“Xinden”) held an aggregated futures equivalent position of 1,810 long MAY20 Natural Gas contracts, which was 810 contracts (81%) over the standard position limit in effect for trade dates April 24, 27, and 28, 2020. The Panel found that as a result, Sino violated Rule 562… Read More

Penalties: $25,000.00
Respondent: Gulzada Investments, Ltd.
Violation: Pursuant to an offer of settlement in which Gulzada Investments, Ltd. neither admitted nor denied the rule violation upon which the penalty is based, on October 21, 2020, a Panel of the COMEX Business Conduct Committee (the “Panel”) found that on May 3, 2019, Gulzada Investments, Ltd. traders executed opposing buy and sell orders in December 2019 Silver Options for which there was common beneficial ownership on both sides of the transactions… Read More

Penalties: $50,000.00
Respondent: Merrill Lynch Commodities Inc.
Violation: Pursuant to an offer of settlement Merrill Lynch Commodities Inc. (“MLCI”) presented at a hearing on October 21, 2020, in which MLCI neither admitted nor denied the rule violation upon which the penalty is based, a Panel of the NYMEX Business Conduct Committee (“Panel”) found that on May 1, 2019 and June 21, 2019, MLCI executed multiple non-bona fide EFRP transactions in the NY Harbor ULSD Futures and Light Sweet Crude Oil futures contracts… Read More

Penalties: $30,000.00
Respondent: Xinden Trading PTE LTD
Violation: Pursuant to an offer of settlement Xinden Trading PTE LTD (“Xinden”) presented at a hearing on October 21, 2020 in which Xinden neither admitted nor denied the rule violation upon which the penalty is based, a Panel of the Business Conduct Committee found that at the close of business on April 23, 2020, Xinden and its affiliate, Sino Treasure Metal Holding Ltd… Read More

FINRA

10 Enforcement Documents

$42,500.00 in Fines

Penalties: $10,000.00
Respondent: Travis R. Nelson
Violation: In April 2019, Nelson signed a customer’s signature without the customer’s authorization on a letter Nelson drafted to request an increased fund transfer limit for the customer, in violation of FINRA Rule 2010… Read More

Penalties: $15,000.00
Respondent: CapFi Financial Partners LLC
Violation: From February 2016 to February 2018, MK—the owner, CEO, and CCO of CapFi—used the firm’s credit card and bank account to pay for approximately $265,000 of his personal expenses… Read More

Penalties: $5,000.00
Respondent: John Henry Geary
Violation: In November 2018, while associated with LPL, Respondent exercised discretion without written authorization and effected a stock sale in a customer account, in violation of NASD Rule 2510(b) and FINRA Rule 2010… Read More

Penalties: $5,000.00
Respondent: Troy R. Baily
Violation: From February through May 2017, Baily engaged in four undisclosed and unapproved private securities transactions in the total amount of $210,000. Baily’s conduct violated FINRA Rules 3280 and 2010… Read More

Penalties: N/A
Respondent: Mamoun Chater
Violation: FINRA Rule 8210(a)(1) states, in relevant part, that FINRA may require a person subject to its jurisdiction “to provide information orally, in writing, or electronically and to testify at a location specified by FINRA staff with respect to any matter involved in [a FINRA] investigation [or] examination… Read More

Penalties: $7,500.00
Respondent: Norman Stanley Batansky
Violation: Batansky participated in one private securities transaction by facilitating a $50,000 investment by his son, who was also a customer, in a convertible promissory note, without providing prior written notice to his firm, in violation of FINRA Rules 3280 and 2010… Read More

Penalties: N/A
Respondent: James Couture
Violation: Couture refused to provide a complete production of documents and information requested pursuant to FINRA Rule 8210. As a result, he violated FINRA Rules 8210 and 2010… Read More

Penalties: N/A
Respondent: Christopher Fernan
Violation: On September 9, 2020, as part of its investigation into this matter, FINRA staff sent a request to Respondent for on-the-record testimony pursuant to FINRA Rule 8210… Read More

Penalties: N/A
Respondent: Cynthia Diane Cowden
Violation: Cowden recommended unsuitable high risk, speculative investments to three senior customers, in violation of FINRA Rules 2111 and 2010… Read More

FRS

Enforcement Document

$154,000,000.00 in Fines

Penalties: $154,000,000.00
Respondent: Goldman Sachs Group Inc.
Violation: ; the Firm failed in this regard despite internal reports that the intermediary had met with an official of the Foreign Fund in connection with the first offering and repeated efforts by personnel in Asia to do business with the intermediary after his rejection as a Firm client… Read More

SEC

13 Enforcement Documents

$1,007,582,460.91 in Fines

Penalties: $130,000.00
Respondent: Tradenet Capital Markets LTD. d/b/a Tradenet
Violation: Tradenet violated Section 5(e) of the Securities Act when it offered to enter into security-based swaps with U.S. investors who were not eligible contract participants and when it sold swaps to more than 5,000 U.S. persons who were not eligible contract participants because no registration statements were in effect for the offer and sale of the security-based swaps; Tradenet violated Section 6(l) of the Securities Act when it effected transactions in security-based swaps with U.S. persons who were not eligible contract participants that were not effected on a registered national securities exchange… Read More

Penalties: N/A
Respondent: Vortex Blockchain Technologies Inc.
Violation: The Securities and Exchange Commission (“Commission”) deems it necessary and appropriate for the protection of investors to accept the Offer of Settlement submitted by Vortex Blockchain Technologies Inc. (“VXBT” or “Respondent”) pursuant to Rule 240(a) of the Rules of Practice of the Commission, 17 C.F.R. § 201.240(a), for the purpose of settlement of these proceedings initiated against Respondent on September 22, 2020, pursuant to Section 12(j) of the Securities Exchange Act of 1934 (“Exchange Act”)… Read More

Penalties: N/A
Respondent: Cory Adam Leshner
Violation: The Securities and Exchange Commission deems it appropriate to issue an order of forthwith suspension of Cory Adam Leshner pursuant to Rule 102(e)(2) of the Commission’s Rules of Practice (17 C.F.R. § 200.102(e)(2))… Read More

Penalties: $1,076,760.91
Respondent: EDG Management Company, LLC
Violation: Respondent willfully violated Section 206(2) of the Advisers Act, which makes it unlawful for any investment adviser, directly or indirectly, to “engage in any transaction, practice or course of business which operates as a fraud or deceit upon any client or prospective client… Read More

Penalties: N/A
Respondent: Andrew Dale Ledbetter, Esq.
Violation: The Securities and Exchange Commission (“Commission”) deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted against Andrew Dale Ledbetter (“Respondent” or “Ledbetter”) pursuant to Rule 102(e)(3)(i) of the Commission’s Rules of Practice… Read More

Penalties: N/A
Respondent: Christian J. Baquerizo
Violation: The Securities and Exchange Commission (“Commission”) deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Section 15(b) of the Securities Exchange Act of 1934 (“Exchange Act”) against Christian J. Baquerizo (“Respondent”)… Read More

Penalties: $1,006,300,000.00
Respondent: The Goldman Sachs Group Inc.
Violation: Under Section 21C(a) of the Exchange Act, the Commission, after making certain required findings, may impose a cease-and-desist order upon any person who is violating, has violated, or is about to violate any provision of the Exchange Act or any rule or regulation thereunder, and upon any other person that is, was, or would be a cause of the violation, due to an act or omission the person knew or should have known would contribute to such violation… Read More

Penalties: N/A
Respondent: Mustafa David Sayid, Esq.
Violation: The court granted the Commission’s motion for summary judgment against Sayid, expressly finding he had violated Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, and Sections 5 and 17(a) of the Securities Act… Read More

Penalties: N/A
Respondent: Big Time Holdings, Inc.
Violation: BTHI (CIK No. 1728599) is a forfeited Delaware corporation located in Douglas, Isle of Man with a class of securities registered with the Commission under Exchange Act Section 12(g)… Read More

Penalties: N/A
Respondent: Andrew Dale Ledbetter
Violation: The Securities and Exchange Commission (“Commission”) deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Section 15(b) of the Securities Exchange Act of 1934 (“Exchange Act”) against Andrew Dale Ledbetter (“Respondent”)… Read More

Penalties: N/A
Respondent: Kevin Cardenas
Violation: The Securities and Exchange Commission (“Commission”) deems it appropriate and in the public interest that public administrative proceedings be, and hereby are, instituted pursuant to Section 15(b) of the Securities Exchange Act of 1934 (“Exchange Act”) against Kevin Cardenas (“Respondent”)… Read More

Penalties: $75,700.00
Respondent: Norman T. Reynolds, Esq.
Violation: The court granted the Commission’s motion for summary judgment against Reynolds, finding he had violated Section 10(b) of the Exchange Act and Rule 10b-5 thereunder, and Sections 5 and 17(a) of the Securities Act… Read More

Penalties: N/A
Respondent: Paul Horton Smith, Sr.
Violation: Respondent permanently enjoining him from future violations of Section 17(a) of the Securities Act of 1933 and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder, and Sections 206(1) and 206(2) of the Advisers Act, in the civil action entitled Securities and Exchange Commission v. Paul Horton Smith, Sr… Read More

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