Former associated person suspended and fined for alleged unauthorized discretionary trading in customer accounts
FINRA Rule 2010 FINRA Rule 3260 NASD Rule 2510
Flow Traders censured and fined for alleged financial risk management failures
The firm did not put in place reasonably designed pre-set capital thresholds and supervisory procedures. The pre-set capital thresholds were set too high and did not meaningfully limit the financial exposure generated by the firm’s trading.
In addition the firm’s WSPs were not reasonably designed, with maximum notional value limits set too high to prevent the entry of erroneous orders.
SEA 1934 Rule 15c3-5 FINRA Rule 2010 FINRA Rule 3110
Former products representative barred for allegedly failing to provide requested information and documents
FINRA Rule 2010 FINRA Rule 8210
Former securities representative suspended and fined for alleged unauthorized discretionary trading in customer accounts
FINRA Rule 2010 FINRA Rule 3260 FINRA Rule 3270
Former products representative barred for allegedly refusing to provide information or documents
FINRA Rule 2010 FINRA Rule 8210
| Unless otherwise noted all respondents accepted and consented to FINRA’s findings without admitting or denying them. |