On Jul. 11, UK GC issued penalty for AML, social responsibility failures. Relates to money laundering / social responsibility failures by operator Casino 36. UK GC investigation revealed the operator had failed to ensure adequate customer enhanced due diligence, source of funds, source of wealth checks for 33 customers. During the relevant period, from Nov.…
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SEC Charges Advisor With Fraud
On Jul. 1, SEC charged advisor with defrauding retail customers. Fieldstone Financial Management Group and principal Kristofor Behn, defrauded retail clients by failing to disclose conflicts of interest on their recommendations. Charges 2014-2016, approximately 40 retail clients of Behn and Fieldstone invested over $7mn in Aequitas securities, who were subject of a previous enforcement action.…
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