Compliance News

The Patrina Newsroom

Staying up to date with the changes and developing trends in the world of compliance is vital to reducing your exposure to risk and non-compliance. Each week our team searches for topics that are important to our regulatory environment and creates articles that will inform and educate our readers. Our intent is not to single out any businesses because of their lack of oversight, but to merely keep our readers abreast of the developing trends in regulatory compliance. Staying out of the regulators’ crosshairs is challenging and we hope the articles we share are informative and help you to strength your compliance initiatives.

Your thoughts and comments are greatly appreciated!

October 15, 2020

SEC had a busy 2020, and the year’s not over!

“The best-laid plans of mice and men…”  It was only a year ago at SEC Speaks 2019, that Securities & Exchange Commission (SEC) Chairman Jay Clayton […]
October 7, 2020

Supervision failures cost three Citibank affiliates $4.5 million

Supervision failures cost three Citibank affiliates $4.5 million   The Commodity Futures Trading Commission (CFTC) has issued an order filing and simultaneously settling charges against three […]
October 2, 2020

FINRA/SEC/CFTC Fine Interactive Brokers $38 Million For Widespread AML Failures

Regulators hit Interactive Brokers with a triple punch for more than $38 million in fines and penalties in relation to ongoing failures of its anti-money laundering […]
September 4, 2020

Are you protecting your client’s data?

Are you protecting your client’s data?   Even before the pandemic, compliance professionals must operate in a world where, in some cases, data, especially client data, […]
August 27, 2020

Five ways to keep compliance front-and-center for your remote workforce

Five ways to keep compliance front-and-center for your remote workforce           It is difficult to imagine a post-COVID-19 workplace. With many employees continuing to work remotely, […]
August 13, 2020

More Sleepless Nights For Compliance Professionals

What 5 compliance issues keep you up all night? My how time flies. It’s been nearly a dozen years since excessive risk-taking by banks and the […]
August 7, 2020

Follow These Work At Home Tips To Stay Protected

Five WAH tips to keep your team and your data safe and compliant If your members are still working at home now and for the foreseeable […]
July 30, 2020

This Advisor’s Texts Are Anything But LOL

Advisor’s texts could spell big trouble in court According to Reporter Asia Martin, writing in Wealth Management, legal observers say that Advisor Brian Doench’s recorded text […]
July 23, 2020

CFTC Charges in Ongoing Multimillion-Dollar Ponzi Scheme

The Commodity Futures Trading Commission (CFTC) has filed a civil enforcement action in the Eastern District of California, charging a slew of individuals and entities with […]
July 16, 2020

NASAA Open For Comments On WSPs

NASAA open for comments on proposed WSP rule until August 1, 2020 The Investment Adviser Regulatory Policy and Review Project Group (Project Group) of the North […]
July 10, 2020

SG America Gets Hit By FINRA

FINRA and SEC hit SG Americas Securities with $3.1 million in fines over blue sheets mishap For more than seven years, SG Americas Securities, LLC (SGAS) submitted […]
July 1, 2020

Telegram Billions

Telegram returns $1.2 Billion to Investors; Pays $18.5 million penalty to settle SEC charges OMG! No matter how big your company, you know compliance is so […]
June 24, 2020

DB To Pay $10 Million To Settle Two CFTC Cases

Deutsche Bank Pays Over $10 Million to Settle Two CFTC Cases Reporting violations and spoofing cost Deutsche Bank AG more than $10 million – and that […]
June 17, 2020

Sagepoint’s Early Roll Overs Lead to FINRA Fines

FINRA scrutinizes UITs as IBD settles case for $1.6 million Failure to establish and maintain a supervisory system cost SagePoint Financial, Inc. a $1.6 million payout […]
June 10, 2020

ARGO Perk Penalties

Insurance Company Argo Group’s failure to disclose excessive executive perks costs it $900K The Securities and Exchange Commission (SEC) has settled charges against Bermuda-based insurance company […]
June 2, 2020

Poor Supervisory Controls Put RBC In Regulatory Crosshairs

Massachusetts Commonwealth Secretary charges RBC Capital Markets with supervisory failures The Massachusetts Secretary of the Commonwealth William Galvin has filed a complaint that RBC Capital Markets’ […]
May 27, 2020

Even Relatively Small Fines Hurt

Even small regulatory fines, penalties, and suspensions hurt Not every fine issued by the financial services industry regulators is a significant dollar fine. That doesn’t mean […]
May 20, 2020

SEC Hits Morningstar

SEC hits Morningstar Credit Ratings with $3.5 million penalty What happens when a company mixes independent analysis and advertising? Nothing good. In a recent order filed […]
May 13, 2020
SEC acts against 15 unregistered brokers | Integrated Compliance Suite

CFTC Binary Fraud

CFTC Files Charges in $20 million international fraud scheme The Commodity Futures Trading Commission (CFTC) has filed a multi-million-dollar fraud action in the U.S. District Court […]
April 29, 2013

Regulatory Compliance – 10 Tips for Choosing a Designated Third Party for Data Archiving

Compliance with rules and regulations, like the SEC Rule 17a-4, means businesses have mission critical record keeping obligations requiring the use of a designated third party […]
June 25, 2013

Prepare for Disasters with a Serious Business Continuity Plan

The Atlantic hurricane season officially began June 1st and forecasters are predicting an extremely active season.  As we enter hurricane season 2013, I find myself reflecting […]
January 30, 2014

Designated Third Party Archiving- Benefits Beyond Compliance

Reasons Why Data Archiving with a Designated Third Party Frees Internal Resources & Saves Money Archiving data with a designated third party provider (D3P) makes sense for […]
February 11, 2014

The Benefits of Utilizing a Third Party Archive System in the Financial Services Industry

Third Party Archive Systems in Financial Services Data archive systems are becoming an increasingly vital part of the financial services industry as federal laws and record-keeping […]
June 17, 2014

Data Security Should Be a Top Concern for Businesses in 2014 & Beyond

Information Archiving is Priceless as the Lack of Information Governance in Organizations Pose a Serious Threat for Businesses in 2014 Each year, the top online security […]