FINRA member firm fined $1.5m over business comms failings

Examples include breaches over recordkeeping, supervision of personal messaging and conflicts of interest.

H.C. Wainwright & Co., LLC (Wainwright), a FINRA member firm, has been censured and fined $1.5m for failing to preserve business-related communications. In addition to the fine and censure the firm has also been required to revise “its supervisory systems, policies, procedures and trainings” connected to the rules violated.

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