The US Securities and Exchange Commission (SEC) has agreed a $3.1 million settlement with SG Americas Securities, a subsidiary of French bank Société Générale, for failing to provide accurate securities trading information, known as blue sheet data.
The SEC said on 24 June that the company agreed to pay a $1.55 million civil penalty to resolve the charges, as well as a $1.55 million fine to the Financial Industry Regulatory Authority (Finra).
The SEC said that SG Americas made various faulty blue sheet submissions, containing missing or incorrect information, for roughly 27.6 million transactions over a five-year period. The company also failed to adequately validate the accuracy of its submissions, according to the SEC.
The Financial Conduct Authority (FCA) says it has seen a “sharp increase” in the number of complaints it has received in 2020, resulting in a “sharp decline” in the speed of its initial investigations.
The FCA said in it service standards report published on 24 June that the proportion of complaints it has been able to review and respond to within 10 working days of receipt has fallen by nearly 20 percentage points in 2020.
The agency did not provide reasons for the decline in speed.
Brazil’s Federal Prosecution Service (MPF) are investigating allegations of fraud and money laundering at a subsidiary of state-owned electric company Eletrobras.
The MPF said on 25 June that it has issued 12 arrest warrants against state officials and executives at Eletronuclear, as well as 18 search and seizure warrants, over allegedly fraudulent contracts.
The agency said that the probe formed part of its overarching Operation Car Wash investigation, which targets bribes paid to officials at state-controlled oil company Petrobras.
Eletronuclear said in a statement to the market that it was following the matter closely.
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