United States FINRA Fines Credit Suisse $900,000 for 9,000 Late & Inaccurate Trade & Compliance Reporting for OTC Securities, UBS Fined $475,000 for Wrong Order Execution Data Update & Goldman Sachs Fined $3 Million for Wrong Labelling of 60 Million Short Orders
30th June 2023 | Hong Kong
The United States Financial Industry Regulatory Authority (FINRA) has fined Credit Suisse $900,000 for 9,000 late & inaccurate trade & compliance reporting for OTC securities (Over-the-counter) TRACE reporting (Trade Reporting and Compliance Engine). Earlier in 2023, UBS was fined $475,000 for wrong order execution data update and Goldman Sachs was fined $3 million for wrong labelling of 60 million short orders. FINRA: “From November 2015 through at least March 2023, Credit Suisse reported to the Trade Reporting and Compliance Engine (TRACE) approximately 9,000 late trades, primarily in securitized products, and hundreds of thousands of inaccurate TRACE reports. The firm’s late and inaccurate TRACE reports violated FINRA Rules 6730 and 2010. From July 2016 through June 2021, Credit Suisse also failed to timely provide notice to FINRA for approximately 190 new issue offerings in TRACE-reportable securities in violation of FINRA Rules 6760 and 2010. Finally, Credit Suisse’s supervisory system for reviewing the timeliness and accuracy of its TRACE reporting was not reasonable. As a result, the firm violated FINRA Rules 3110 and 2010.”
“ United States FINRA Fines Credit Suisse $900,000 for 9,000 Late & Inaccurate Trade & Compliance Reporting for OTC Securities, UBS Fined $475,000 for Wrong Order Execution Data Update & Goldman Sachs Fined $3 Million for Wrong Labelling of 60 Million Short Orders “
Sign Up / Register
Caproasia Users
- Manage $20 million to $3 billion of assets
- Invest $3 million to $300 million
- Advise institutions, billionaires, UHNWs & HNWs
Caproasia Platforms | 11,000 Investors & Advisors
- Caproasia.com
- Caproasia Access
- Caproasia Events
- The Financial Centre | Find Services
- Membership
- Family Office Circle
- Professional Investor Circle
- Investor Relations Network
Monthly Roundtable & Networking
Family Office Programs
The 2024 Investment Day
- March 2024 - Hong Kong
- March 2024 - Singapore
- July 2024 - Hong Kong
- July 2024 - Singapore
- Sept 2024 - Hong Kong
- Sept 2024 - Singapore
- Oct 2024 - Hong Kong
- Nov 2024 - Singapore
- Visit: The Investment Day | Register: Click here
Caproasia Summits
- The Institutional Investor Summit
- The Investment / Alternatives Summit
- The Private Wealth Summit
- The Family Office Summit
- The CEO & Entrepreneur Summit
- The Capital Markets Summit
- The ESG / Sustainable Investment Summit
