FINRA disciplinary action update 2024/37
Disciplinary decisions issued September 21 – 27, 2024.
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Independent Financial Group censured and fined for allegedly failing to comply with its Reg BI obligations
The firm did not have in place a supervisory system reasonably designed to supervise excessive trading and ensure compliance with Reg BI.
The firm’s compliance staff reviewed an excessive trade alert (generated by an
Compliance, Enforcement, FINRA, FINRA Reg Notice 19-18, FINRA Rule 1122, FINRA Rule 2010, FINRA Rule 2111, FINRA Rule 2121, FINRA Rule 3110, FINRA Rule 3270, FINRA Rule 3310, FINRA Rule 5310, FINRA Rule 5310.09, FINRA Rule 8210, Industry, NASD NTM 02-21, SEA 1934 Rule 15l-1, SEA 1934 Rule 17a-14, SEA 1934 Rule 606, SEC Reg BI, US Content