Company Directory - Maxim Group
Company Details - Maxim Group
Maxim Group
WebsiteMaxim Group is an investment banking, securities, and asset management firm that provides a comprehensive range of financial services including advisory, capital raising, and asset management solutions. The firm leverages its expertise in market analysis and strategic investment to serve its clients in diverse financial markets.
CCI Score
CCI Score: Maxim Group
-55.65
0.23%
Latest Event
FINRA fines Maxim Group for deficient reporting
Maxim Group agreed to pay a $75,000 fine and accepted a censure from FINRA after its public quarterly reports between January 2020 and April 2021 failed to disclose required details on customer orders in NMS securities, reflecting deficiencies in supervisory systems and written procedures.
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QUISLING
Maxim Group is currently rated as a Quisling.
Latest Events
- OCT212024
Maxim Group agreed to pay a $75,000 fine and accepted a censure from FINRA after its public quarterly reports between January 2020 and April 2021 failed to disclose required details on customer orders in NMS securities, reflecting deficiencies in supervisory systems and written procedures.
-40
Business Practices and Ethical Responsibility
March 31
The fine and censure imposed by FINRA for deficient reporting indicate significant lapses in Maxim Group's business practices and ethical responsibility. The failure to properly disclose information and maintain compliant supervisory procedures undermines investor trust and signals unethical internal controls.
- OCT182024
On October 18, 2024, Maxim Magazine, an influential publication with a readership of 9 million, officially endorsed Donald Trump for president via a Twitter announcement. The endorsement, made under the editorial control of owner Sardar Biglari, signals a political stance that may bolster far‐right, authoritarian ideologies.
-80
Executive Political Engagement
March 31
The magazine’s endorsement of Donald Trump reflects an active political engagement that aligns with far-right, authoritarian values. By using its platform to support a candidate associated with authoritarian tendencies, the action undercuts progressive and anti-fascist norms, influencing public opinion with significant reach.
- OCT182024
Maxim, traditionally an apolitical lifestyle magazine, broke with its usual non-political stance by endorsing Donald J. Trump for the 2024 presidential election. This move aligns the publication with an authoritarian figure and could contribute to the broader political momentum of controversial, pro-fascist policies.
-70
Public and Political Behavior
March 31
By endorsing Donald J. Trump—a candidate widely associated with authoritarian leadership and policies—Maxim demonstrates a significant shift towards politically charged behavior that undercuts progressive values. This endorsement may bolster support for divisive political actions, worsening trends in authoritarianism.
- OCT022023
Maxim Group was fined $800K by the SEC, with an additional $500K penalty and consultant requirement imposed by FINRA, for failing to implement adequate anti-money laundering policies and properly file suspicious activity reports during 2018-2019.
-50
Business Practices and Ethical Responsibility
March 31
Maxim Group’s inability to establish and enforce proper AML policies and SAR filing protocols, which resulted in significant fines from both the SEC and FINRA, reflects poor business practices and ethical responsibility. This regulatory failure undermines public trust and accountability in financial services.
- SEP292023
On September 29, 2023, the SEC charged Maxim Group for violating federal securities laws by failing to file suspicious activity reports and by not implementing adequate anti-money laundering procedures. The enforcement action resulted in a cease-and-desist order and an $800,000 penalty.
-70
Business Practices and Ethical Responsibility
March 31
Maxim Group’s failure to design and implement effective anti-money laundering policies, leading to missed filing of suspicious activity reports, reflects significant ethical and business practice lapses. Such regulatory non-compliance undermines market integrity and demonstrates a disregard for essential financial safeguards.
SEC Charges Maxim with Failing to File Suspicious Activity Reports and Violations of Regulation SHO
- SEP292023
The SEC fined Maxim Group $800,000 for willfully violating federal securities laws, including deficiencies in anti‐money laundering controls, failure to file required SARs, and non-compliance with Regulation SHO's requirements for short sales.
-60
Business Practices and Ethical Responsibility
March 31
Maxim Group's violations highlight significant shortcomings in its ethical business practices. The SEC found that the firm failed to implement adequate anti-money laundering policies, neglected to file required suspicious activity reports, and did not comply with Regulation SHO provisions for short sales. Such actions undermine market integrity and demonstrate a disregard for regulatory standards, thus warranting a negative score under Business Practices and Ethical Responsibility.
SEC imposes $800,000 fine on Maxim Group for Regulation SHO violations
- AUG222023
The new owner of the Maxim Group, Freedom Holding Corp, is facing allegations of money laundering and helping Russian oligarchs evade sanctions, amid previous controversies over its deal-making practices, particularly in shipping.
-70
Economic Collaboration
March 31
The allegations against Freedom Holding Corp, the new owner of Maxim Group, implicate it in activities such as sanctions busting and money laundering, which may facilitate the evasion of international sanctions and bolster authoritarian networks. Such practices undermine ethical business conduct and could indirectly support regimes with authoritarian tendencies. This behavior is judged as highly detrimental under the Economic Collaboration category, directly impacting the company’s structural influence in global finance.
Maxim Group parent company under fire for alleged sanctions busting, money laundering
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