Former securities representative fined and suspended for obtaining COVID-19 unemployment benefits while working
FINRA Rule 2010 FINRA Rule 3280
Aeon capital fined and censured for failing to maintain required minimum net capital levels and for failing to report these deficiencies to FINRA
Exchange Act § 15(c) Exchange Act Rule 15c3-1 Exchange Act § 17(a) Exchange Act Rule 17a-11 FINRA Rule 2010 FINRA Rule 4110 FINRA Rule 4511
Transamerica Capital fined for failing to register third party call center workers
FINRA Rule 1210 FINRA Rule 1220 FINRA Rule 1230 FINRA Rule 2010 Regulatory Notice 17-30
Former securities representative fined and suspended for retrospectively creating compliance review checklists
FINRA Rule 2010
SageTrader fined and censured for mismarking sell orders, failing to locate shares for borrowing and for other supervisory system failures
Regulation SHO Rule 200(g) Regulation SHO Rule 203(b)(1) FINRA Rule 2010 FINRA Rule 3110
Webull Financial fined and censured for inadequate due diligence when approving customers and for not having a reasonably designed system for customer complaints
This is an interesting action because the alleged rule violations can be traced directly to poorly designed internal systems and a lack of supervisions of these. A more detailed outline can be found here.
FINRA Rule 2010 FINRA Rule 2360 FINRA Rule 3110 FINRA Rule 4530
Former securities representative fined and suspended for making unsuitable recommendations to customers
Because the unsuitable recommendations resulted in customer incurring unnecessary fees a restitution of $594,590 plus interest is being ordered in addition to the other sanctions.
FINRA Rule 2010 FINRA Rule 2111 FINRA Rule 2330
Former products representative barred for participating in private securities transactions and for inaccurately responding to FINRA
FINRA Rule 2010 FINRA Rule 3280
| Unless otherwise noted all respondents accepted and consented to FINRA’s findings without admitting or denying them. |