Former products representative fined and barred for failing to provide information in connection with alleged participation in undisclosed outside business activity
FINRA Rule 2010 FINRA Rule 8210
Former fingerprint specialist fined and suspended for allegedly using cell phone during SIE exam
FINRA Rule 1210 FINRA Rule 2010
Fenix Securities LLC fined and censured for alleged failure to establish adequate market access risk management controls
FINRA’s investigation found that the firm’s pre-trade controls in its order management system were not reasonably designed to prevent the entry of erroneous orders. The controls were set too high and did not consider the characteristics of individual securities or customers in order to prevent the entry of erroneous orders. Even when orders triggered warnings they were still routed to the market.
In addition the firm did not adequately document the risk management controls and also failed to review their effectiveness
Exchange Act § 15(c)(3) Exchange Act Rule 15c3-5 FINRA Rule 2010 FINRA Rule 3110
Lighthouse Capital Group LLC fined and censured for alleged supervisory system and procedure failures
According to FINRA, the firm’s supervisory system and procedures were not adequate to prevent general solicitations of private placements.
The firm did not document the establishment of a substantive relationship with prospective investors, which meant that it could not show that it had sufficient information available to determine the financial circumstances and sophistication of the clients to whom private placements were sold.
Securities Act 1933 Section 4(a)(2) Securities Act 1933 Section 5 Rule 506(b) Regulation D FINRA Rule 2010 FINRA Rule 3110
Former sales assistant barred for allegedly refusing to testify
FINRA Rule 2010 FINRA Rule 8210
Former securities representative barred for alleged failure to produce documents and testify
FINRA Rule 2010 FINRA Rule 8210
