The Financial Industry Regulatory Authority (FINRA) has taken action against two broker-dealers, TradeUP Securities, Inc. and Dalmore Group LLC, for various regulatory violations. Both firms have agreed to significant fines and censures without admitting or denying the findings.
The Securities and Exchange Commission (SEC) has taken action against First Horizon Advisors, Inc., a registered broker-dealer, for failing to comply with Regulation Best Interest (Reg BI). The charges, announced on September 18, 2024, specifically relate to First Horizon's recommendations of structured notes, a type of complex derivative security.
The Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) have both issued new policy statements on bank merger transactions. This aligned approach, announced on September 17, 2024, aims to bring unprecedented transparency and clarity to the bank merger review process.
Retail pharmacy giant Walgreens has agreed to pay $106.8 million to settle allegations of widespread fraud against government health care programs, the U.S. Department of Justice announced on Friday. The settlement resolves claims that Walgreens billed Medicare, Medicaid, and other federal health care programs for prescriptions that were never actually dispensed to patients.
The Securities and Exchange Commission (SEC) has nabbed 11 heavyweight investment managers for playing fast and loose with crucial reporting rules. The September 17 sting operation exposed a web of violations that's costing most of these financial juggernauts millions in penalties.
The Securities and Exchange Commission (SEC) has taken aim at 12 municipal advisory firms, exposing a widespread failure to properly maintain crucial electronic communications. The firms, ranging from industry giants to smaller players, now face a collective $1.3 million in penalties for their oversight.
The U.S. Securities and Exchange Commission (SEC) has charged Zymergen Inc., a bankrupt biotechnology company based in Emeryville, California, with misleading investors during its initial public offering (IPO) in April 2021. The SEC announced the settled charges on September 13, 2024, highlighting serious misrepresentations about the company's market potential, revenue prospects, and customer pipeline for its primary product, Hyaline.