Regulator says firm overcharged exchange and clearing fees
The self-regulatory organization found 15 systems issues at the firm that gave rise to various reporting violations
The Fed has ordered the firm to pay a civil penalty of US$36.3 million and announced enforcement proceedings against former managing director
Leonid Momotok was involved in an international scheme to hack into newswires and trade on stolen inside information
John Briner and his former firm have been ordered to pay US$280,000 and have been banned permanently
The sentence, which includes other sanctions, was handed down after Sydney Klein pleaded guilty to one count of defrauding the public
The firm had discovered that some clients in fee-based accounts were also paying trailer fees as a result of problems within its systems of control and supervision
Hyun Chul Lee has been fined $150,000 for engaging in personal financial dealings with some clients and engaging in other occupations without PFSL’s knowledge and approval
US$1.3 million stolen from an 89-year-old customer’s variable annuity account
IIROC panel says former advisor made bad recommendations and engaged in unauthorized discretionary trading