La Financial Industry Regulatory Authority a publié un communiqué de presse dans lequel elle annonce la condamnation de Hold Brothers On-Line Investment Services, LLC pour blanchiment d'argent, manipulation et d'autres violations.
La société américaine de courtage faisait du day trading à l'étranger pour passer à travers les systèmes de contrôle de la FINRA.
Elle est accusée entre autres de ne pas avoir consacré le niveau approprié de ressources et de personnel pour assurer une supervision normale de ses opérations.
La société écope d'une amende de 5,9 millions de dollars.
The Financial Industry Regulatory Authority (FINRA), along with NYSE Arca, Inc., The NASDAQ Stock Market LLC, NASDAQ OMX BX, Inc., and BATS Exchange, Inc. today announced that they have censured and fined Hold Brothers On-Line Investment Services, LLC $3.4 million for manipulative trading activities, anti-money laundering (AML), and other violations. In a related case, the Securities and Exchange Commission (SEC) today announced a settlement with Hold Brothers, fining the firm more than $2.5 million.
Thomas Gira, FINRA Executive Vice President and Head of Market Regulation, said, "This is another example of a U.S.-based broker-dealer allowing a significant volume of overseas day trading to pass through its systems on a regular basis without devoting the appropriate level of resources and personnel to ensure this business was properly supervised. Hold Brothers was actively involved in running the operations of these foreign entities, yet turned a blind eye to their manipulative trading activities and compliance with anti-money laundering requirements. This case also serves to underscore FINRA's and the exchanges' collective efforts to root out and pursue cross-market manipulative trading activities."
Hold Brothers, headquartered in New York, is a self-clearing broker-dealer that primarily operates as a day-trading firm by facilitating direct market access to customers and to its proprietary traders. Between Jan. 1, 2009 through Dec. 31, 2011, Hold Brothers' largest account, Demostrate LLC and an affiliate, Trade Alpha, were day-trading firms wholly owned and funded by Hold Brothers' principals. Demostrate and Trade Alpha engaged traders and trading groups in various foreign countries, primarily China, to trade its capital. FINRA found that Demostrate and Trade Alpha were controlled by, or under common control with, Hold Brothers.
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