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.
FINRA member firm fined $1.5m over business comms failings
Examples include breaches over recordkeeping, supervision of personal messaging and conflicts of interest.