Solomon Lichtenstein was sued by the SEC on October 22, 2025, for defrauding over 25 investors of $2.7 million through Taraxa Capital Fund and Lightstone Trading Inc. between July 2022 and August 2024. He falsely promised profitable day-trading strategies, instead misappropriating ~$966,000 for personal expenses and Ponzi-like payments, while hiding $200,000 in trading losses with fabricated positive returns, resulting in over $1.5...
The Cyprus Securities and Exchange Commission (CySEC) has suspended the online publication of certification registers and certification exam results after discovering that fraudsters were misusing the personal details of certified individuals to mislead the public. CySEC stressed that certification remains mandatory for employment in regulated financial institutions and urged investors to verify the legitimacy of firms and...
CIBC World Markets Corp. has reached a settlement with FINRA, agreeing to a fine and reprimand of $425,000 for inaccurately reporting or failing to report OTC options positions in nearly 1.5 million instances in the Large Options Position Reporting (LOPR) system from April 2019 to September 2025, in violation of FINRA rules.
Vision Financial Markets LLC agreed to a $250,000 fine and reprimand in a settlement with FINRA for inaccurately calculating reserves on client and proprietary accounts from April 2020 to November 2022, which resulted in underfunding of reserves, inaccurate records, and misreporting, in violation of the Securities and Exchange Act and certain FINRA rules. Vision also failed to...
Barclays Capital Inc. has reached a settlement with the Financial Industry Regulatory Authority (FINRA), agreeing to a $150,000 fine for violating certain FINRA rules in a July 2021 initial public offering that raised $700 million. Barclays failed to resolve a conflict of interest when it returned 20% of its proceeds, $150 million, to its affiliate due to a...
The Hong Kong Securities and Futures Commission (SFC) fined UBS AG $8 million and issued a reprimand for misclassifying 560 joint accounts as professional investor (PI) accounts from 2009 to July 2022, due to flawed internal systems and a misinterpretation of PI rules. This led to UBS improperly providing securities lending services to 23 accounts (9,190 transactions)...
The Securities and Exchange Commission (SEC) has filed a lawsuit against 777 Partners LLC and 600 Partners LLC, alleging that between January 2021 and May 2024, they fraudulently raised $237 million from 13 investors through a preferred equity offering by misrepresenting the financial health of the Issuers (777 Partners and 600 Partners). Despite claiming substantial positive net...
Italy’s Companies and Exchange Commission (CONSOB) has ordered the blocking of 13 unauthorized investment websites, including Stockwisse, Hyper Trades, Arti4Trades, Lirunefx, NETWORK CAPITAL LTD, Lucrumiagroup.co, Dobibo, and Jzmor, for offering financial services without proper authorization. Utilizing powers from the “Growth Decree” and MiCAR regulations, CONSOB has now blocked 1,426 websites since July 2019, with the blackout process ongoing.
The Cyprus Securities and Exchange Commission (CySEC) has fined Conotoxia Ltd for non-compliance with Cyprus’ anti-money laundering (AML) regulations. In addition to the fine, CySEC has suspended Conotoxia’s license for alleged violations of The Investment Services and Activities and Regulated Markets Law of 2017.
The Hong Kong Securities and Futures Commission (SFC) has fined Roofer Securities Limited $2.1 million for regulatory violations related to the improper use of client funds.
The investigation found that between February 2021 and July 2022, there were 12 incidents where Roofer failed to maintain sufficient funds in its segregated client account. These incidents...