(Broker-dealer Canaccord Genuity paid an $80 million civil penalty to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN) unit — the largest ever imposed against a broker-dealer for violating the Bank Secrecy Act (BSA). The firm’s compliance failures allegedly facilitated money laundering and terrorism financing that involved money laundering and terrorism financing…. Read More >>
PIMCO Settles Disclosure & Procedure Case for $9M
Pacific Investment Management Company LLC (PIMCO) has agreed to a $9 million settlement with the Securities and Exchange Commission (SEC) over two enforcement actions concerning alleged disclosure violations and policies and procedures woes directly related to two funds that the bond giant oversees. “In the first action, the SEC found that, from September 2014 to… Read More >>
