MBSC Securities Corporation Fined by FINRA
18 October 2018
An AWC was issued in which the firm was censured and ordered to pay $971,289.07, plus interest of $242,955.64, in restitution to customers. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to establish, maintain and enforce a supervisory system and Written Supervisory Procedures (WSPs) reasonably designed to monitor the transmittal of funds from customer accounts to third parties.
