FINRA disciplinary action update #44
Disciplinary decisions issued December 22 – 28, 2023.
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WestPark Capital censured and fined for alleged AML and other compliance failures
The firm did not establish and implement reasonable AML procedures for detecting suspicious trading including market manipulation. The firm’s trade review procedures were inadequate given the volume of transactions the firm facilitated. Suspicious trading patterns and red flags
Compliance, Disciplinary action, Enforcement, FINRA, FINRA Reg Notice 09-05, FINRA Reg Notice 19-18, FINRA Reg Notice 22-08, FINRA Rule 2010, FINRA Rule 3110, FINRA Rule 3280, FINRA Rule 3310, FINRA Rule 4511, FINRA Rule 5310, FINRA Rule 5310.09, Industry, NASD NTM 02-21, NASD Rule 3010, SEA 1934 Rule 15l-1, SEA 1934 Rule 17a-3, SEA 1934 Rule 606, US Content