Lime Brokerage LLC Fined by FINRA
3 June 2019
A Letter of Acceptance, Waiver and Consent (AWC) was issued in which the firm was censured and fined $75,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to accurately calculate its net capital resulting in net capital deficiencies in amounts ranging from $3,348 to $449,666. The findings stated that the firm improperly calculated its customer reserve formula on one occasion and, as a result, failed to make a sufficient deposit in its reserve account, resulting in a hindsight deficiency of $59,590 for one month.
