Former securities representative barred for allegedly failing to produce information and documents
FINRA Rule 2010 FINRA Rule 8210
TP ICAP Global Markets Americas censured and fined for alleged inaccurate TRACE reporting
Approximately 600,000 transactions were reported without the required NR indicator. The firm’s supervisory system and procedures did not pick up on the error and when FINRA notified the firm of the problem the firm’s remediation was only partially effective “because of a coding error that misidentified counterparties to U.S. Treasury transactions.” The firm has also been ordered to certify the remediation of the reporting issues that have been identified.
FINRA Rule 2010 FINRA Rule 3110
Former securities representative suspended and fined for alleged Reg BI violations
The representative recommended an investment despite lacking a reasonable basis that the investment was in the best interst of the customer whose risk tolerance was not aligned with that of the recommendation being made. A disgorgement of $5,670 plus interest has also been ordered.
FINRA Rule 2010 Securities Exchange Act Rule 15l-1 Reg BI
Former securities representative barred for allegedly participating in private securities transactions without notifying his firm
The representative did not disclose his involvement in the transaction nor did he seek to obtain approval from his firm for engaging in the transactions. In addition he falsely responded to questions about participating in such transactions on three compliance questionnaires between 2019 and 2022.
FINRA Rule 2010 FINRA Rule 3280
Former securities representative barred for allegedly declining to produce information and documents and refusing to appear for on-the-record testimony
FINRA Rule 2010 FINRA Rule 8210
Securities representative charged with alleged unauthorized trading
The representative allegedly executed 17 trades without obtaining prior authorization or consent from the customer holding the account after receiving verbal instructions from the customer’s ex-wife.
FINRA Rule 2010
Former securities representative charged with allegedly churning and excessively trading customer accounts
In addition the representative falsified account statements in order to inflate the account values and hide the losses incurred during trading. He also repeatedly lied to FINRA Staff, including denying the preparation of the fake account statements.
FINRA Rule 2010 FINRA Rule 2020 Securities Exchange Act, Section 10(b) Securities Exchange Act Rule 10b-5 Exchange Act Rule 15l-1 Reg BI
Former securities representative suspended and fined for allegedly sending misleading communications to customers and mismarking orders
The securities representative also made false statements to the firm’s compliance personnel and used an unapproved platform for business-related communications
FINRA Rule 2010 FINRA Rule 2210 FINRA Rule 4511 Exchange Act § 17(a) Exchange Act Rule 17a-4(b)(4)
Goldman Sachs censured and fined for allegedly failing to provide complete and accurate blue sheets
The firm misreported or failed to report at least 97 million transactions in 25,000 inaccurate trade data reports. The remediation of the issues identified by FINRA must also be certified in writing by a registered principal at the firm. Here is our more detailed look at the related SEC order.
FINRA Rule 2010 FINRA Rule 3110 NASD Rule 3010
| Unless otherwise noted all respondents accepted and consented to FINRA’s findings without admitting or denying them. |