Western International Securities, Inc., a Pasadena-based broker-dealer, has agreed to a settlement with the Financial Industry Regulatory Authority (FINRA) to resolve allegations of multiple rule violations. The settlement, known as a Letter of Acceptance, Waiver, and Consent (AWC), ensures that FINRA will not pursue further action against Western for the issues detailed in the agreement.
The Prudential Regulation Authority (PRA) has unveiled its annual report for 2023/24, offering a comprehensive overview of a year marked by significant regulatory developments and enhanced financial sector resilience. Published on July 30, 2024, the report covers the period from March 1, 2023, to February 29, 2024, detailing the PRA's extensive activities in safeguarding the UK's banking and insurance sectors.
RTX, formerly known as Raytheon Technologies, has announced a significant financial provision of $1.24 billion to resolve multiple government investigations into its business practices, according to a report from the Wall Street Journal. The aerospace and defense giant disclosed this information in its quarterly update to investors on July 25, 2024.
The U.S. Securities and Exchange Commission (SEC) has awarded over $37 million to a whistleblower whose information led to a successful enforcement action. The announcement, made on July 26, 2024, underscores the SEC's commitment to encouraging individuals to report potential securities law violations.
Admera Health LLC has found itself at the center of a federal investigation. The New Jersey-based company has agreed to a complex settlement potentially worth over $5.5 million to resolve allegations of an elaborate kickback scheme that violated the False Claims Act.
The Securities and Exchange Commission (SEC) has filed charges against well-known activist short seller Andrew Left and his firm, Citron Capital LLC, for allegedly orchestrating a $20 million fraud scheme. The charges, announced on July 26, 2024, accuse Left of using deceptive tactics to mislead investors through his Citron Research website and social media platforms.
The U.S. Department of Justice has obtained default judgments totaling over $26 million against Patrick Britton-Harr and several laboratory companies he owned. The judgments, entered on July 18 by the U.S. District Court for the District of Maryland, come after Britton-Harr and his companies failed to defend against allegations of violating the False Claims Act.