Cowen and Company, LLC Fined by FINRA
18 March 2019
An AWC was issued in which the firm was censured, fined $175,000 and required to revise its supervisory system and WSPs with respect to its compliance with its OATS reporting obligation. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it transmitted reports to OATS that contained inaccurate, incomplete, or improperly formatted data. The findings stated that the ROEs contained inaccurate Firm Order Identifications (FOIDs).
