Social media platforms like TikTok have transformed into vital sources of financial information, particularly for millennials and Gen Zs, with nearly 80% of these demographics seeking advice through these channels. This shift toward these platforms has democratized access to financial knowledge, breaking down traditional barriers and fostering...
The Securities and Exchange Commission (SEC) has announced charges against investment firm Merrill Lynch, Pierce, Fenner & Smith and its parent company BAC North America Holding Co. The charges, stemming from 2009 to 2019, are due to hundreds of Suspicious Activity Reports (SARs) not being filed, the SEC said...
A former investment banker has been arrested and charged with wire fraud in connection with an alleged cryptocurrency fraud. Rashawn Russell, who was a Financial Industry Regulatory Authority-registered broker, has been charged with one count of wire fraud related to his alleged role in the...
The Financial Industry Regulatory Authority (FINRA), a Wall Street regulator, has issued new guidance for broker-dealers on the penalties they could face for violating anti-money laundering (AML) rules, eliminating the cap on fines for bigger companies. According to new guidelines issued Thursday (Sept. 29) by...
September 30, 2024
TD Bank is reportedly settling a case involving illegal “spoof” orders by a former trader. The Canadian bank will pay more than $20 million as part of a deal with American prosecutors, Bloomberg News reported Monday (Sept. 30), citing court filings. That deal involves TD entering into a three-year deferred prosecution agreement to end criminal […]
July 11, 2023
The Securities and Exchange Commission (SEC) has announced charges against investment firm Merrill Lynch, Pierce, Fenner & Smith and its parent company BAC North America Holding Co. The charges, stemming from 2009 to 2019,...
April 11, 2023
A former investment banker has been arrested and charged with wire fraud in connection with an alleged cryptocurrency fraud. Rashawn Russell, who was a Financial Industry Regulatory Authority-registered broker, has...
September 30, 2022
The Financial Industry Regulatory Authority (FINRA), a Wall Street regulator, has issued new guidance for broker-dealers on the penalties they could face for violating anti-money laundering (AML) rules, eliminating the...
