Category Archives: Enforcement

SEC $10mn for Printer FCPA Breach

On Sep. 26, SEC settled with print-marketer for $10mn re FCPA. Charged Quad/Graphics, digital and print marketing provider, based in Wisconsin-USA. For company violations of the FCPA by engaging in bribery schemes in Peru and China. Allegations From at least 2011- Jan. 2016, Quad/Graphics' Peruvian subsidiary, Quad/Graphics Peru S.A., repeatedly paid, or promised bribes to,…
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SEC $1.8mn Whistleblower Award

On Aug. 29, SEC announced $1.8mn award for a whistleblower. Whistleblower awarded $1.8mn for information and help that were critically important to the success of an enforcement action involving misconduct committed overseas. The whistleblower provided extensive cooperation including the review of documents, sworn testimony, and continued to give new information that aided the investigation.
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DoJ Precious Metals Trader Spoofing

On Aug. 21, DoJ announced precious metals trader pleaded guilty. Trader, Christian Trunz, pleaded guilty to conspiracy and spoofing charges. Spoofing Activity Trunz was an executive director at a US bank; he was precious metals trader from Jul. 2007 to Aug. 2016, placing thousands of orders that he did not intend to execute. Orders were…
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SEC Pirrello Liable Insider Trading

On Aug. 14, SEC announced broker found liable of insider trading. New Jersey securities broker Raymond J. Pirrello, Jr. found liable for insider trading. Jury found Pirrello liable, violated SEA S.10(b) and 14(e) and Rules 10b-5 and 14e-3. Alleged Violations Pirrello received highly confidential nonpublic information as to the impending acquisitions of Radiant Systems Inc.,…
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DoJ JPM Trader Metals Spoofing

On Jul. 25, 2019, CFTC settled with Edmonds and other former trader at different bank accused in conspiracy, Corey Flaum, both entered into formal cooperation agreements. Both admitted to spoofing and manipulative conduct in futures markets, requires cease and desist from CEA violations on manipulation, spoofing, to determine sanctions.  
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OSC $1.8mn Best Execution Penalty

On Jul. 19, OSC announced settlement with Caldwell investment. OSC alleged Caldwell violated best execution obligations in equity and bond trades. Settlement Terms Caldwell ordered to pay $1.8mn penalty, half on Jul. 19, 2019 and rest in Apr. 2019. It must also reimburse OSC $250k for its investigation into its compliance failures. Firm will be…
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