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MM Global censured and fined for compliance breaches

FINRA HQ from street
Photo: Getty Images

Thomas Hyrkiel

1 min read
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Broker-dealer settles with FINRA over alleged violations of AML, supervisory and recordkeeping rules.

A boutique Wall Street broker dealer has been censured and fined $450,000 after FINRA found inadequate checks for suspicious trading activity. In its investigation FINRA found that MM Global Securities, Inc. (MM Global), an introducing broker-dealer that offers customers self-directed online trading, failed to:

  • establish and implement a reasonably designed anti-money-laundering
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