Foreign Collusion, Naked Shorting (Counterfeiting) & Money Laundering — All Illicit Wealth
Halifax America LLC Fined by FINRA
6 March 2019
An AWC was issued in which the firm was censured and fined $60,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it made misleading statements to FINRA in connection with its application for registration as a new FINRA member.
TriPoint Global Equities, LLC Fined by FINRA
5 March 2019
An Offer of Settlement was issued in which the firm was censured, fined $100,000, ordered to pay disgorgement of commissions in the amount of $34,001, plus interest, prohibited for a period of 12 months from directly or indirectly receiving, in any manner, any penny stock in any form and required to submit a certification that its policies and procedures are reasonably designed with respect to its compliance with FINRA Rule 3310 and the registration requirements of Sections 5(a) and 5(c) of the Securities Act of 1933, including in connection with the firm’s private placement business and any offered securities.
Great Point Capital LLC Fined by FINRA
4 March 2019
An AWC was issued in which the firm was censured and fined $20,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it inaccurately or untimely submitted Reportable Order Events (ROEs) to the Order Audit Trail System (OATS™).
Cantone Research Inc. Fined by FINRA
14 February 2019
The firm, Anthony Cantone and Christine Cantone appealed a National Adjudicatory Council (NAC) decision to the Securities and Exchange Commission (SEC). The firm was fined $150,000, jointly and severally, with Anthony Cantone and fined $73,000, jointly and severally, with Christine Cantone. Anthony Cantone was suspended from association with any FINRA member in all capacities for 15 months. Christine Cantone was suspended from association with any FINRA member in any principal and supervisory capacity for two years and required to requalify by examination as a securities principal upon completion of her suspension.
Kestra Investment Services, LLC fka NFP Advisor Services, LLC Fined by FINRA
13 February 2019
A Letter of Acceptance, Waiver and Consent (AWC) was issued in which the firm was censured, fined $225,000 and required to provide FINRA with a plan to remediate eligible customers who qualified for, but did not receive, the applicable mutual fund sales-charge waiver or appropriate share class. As part of this settlement, the firm agrees to pay restitution to eligible customers, which is estimated to total $1,947,704 (i.e. the amount eligible customers were overcharged, inclusive of interest).
Revere Securities LLC Fined by FINRA
30 January 2019
An AWC was issued in which the firm was censured and fined $25,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to accurately report municipal securities transactions to the Real-time Transaction Reporting System (RTRS) and failed to maintain reasonably designed WSPs related to municipal securities.
Hennion & Walsh, Inc. Fined by FINRA
23 January 2019
An AWC was issued in which the firm was censured, fined $165,000, ordered to pay $305,438.83 in restitution to customers, and shall certify to FINRA that it has established and implemented policies, procedures and internal controls reasonably designed to address and remediate the issues identified in the AWC.
Advisory Group Equity Services Ltd. Fined by FINRA
14 January 2019
An AWC was issued in which the firm was censured and fined $20,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to establish and maintain a reasonable supervisory system with respect to the retention and review of emails of newly hired representatives.
CFD Investments, Inc. Fined by FINRA
10 January 2019
A Letter of Acceptance, Waiver and Consent (AWC) was issued in which the firm was censured and fined $125,000. 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 ensure that its registered representatives’ recommendations of variable annuities complied with applicable securities laws and regulations and FINRA rules.
J.P. Morgan Securities LLC Fined by FINRA
21 December 2018
An AWC was issued in which the firm was censured and fined $560,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that its supervisory system, including its WSPs, did not provide for supervision reasonably designed to achieve compliance with Rules 605 and 606 of Regulation NMS, and Securities Exchange Act of 1934 Rule 10b-10, and FINRA Rule 7450.
Chardan Capital Markets LLC Fined by FINRA
20 December 2018
An AWC was issued in which the firm was censured, fined $75,000 and required to provide written reports to FINRA concerning its implementation and the effectiveness of its policies, systems, and procedures (written and otherwise) and training, to ensure the firm is in compliance with Rule 101 of Securities and Exchange Commission (SEC) Regulation M, and FINRA Rule 5190(c)(1)(A) and (B).
Cetera Advisor Networks LLC Fined by FINRA
19 December 2018
An AWC was issued in which the firm was censured, fined $700,000 and ordered to pay $691,755.27, plus interest, in restitution to customers. The firm shall also certify to FINRA that it has established and implemented policies, procedures and internal controls reasonably designed to address and remediate the issues identified in the AWC.
Tradition Securities and Derivatives Inc. Fined by FINRA
18 December 2018
An AWC was issued in which the firm was censured, fined $100,000 and required to submit a certification that the firm’s policies and procedures were reasonably designed with respect to the firm’s compliance with FINRA Rule 3310, the requirements of the Bank Secrecy Act and the regulations promulgated thereunder. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to establish or implement an anti-money laundering (AML) compliance program reasonably designed to detect and cause the reporting of suspicious transactions.
Windsor Street Capital, LP fka Meyers Associates, L.P. Fined by FINRA
17 December 2018
An Office of Hearing Officers (OHO) decision became final in which the firm was censured and fined $500,000. The sanctions were based on findings that the firm failed to establish and maintain a reasonable supervisory system and failed to reasonably supervise two registered representatives and their unsuitable trading in connection with trading in an account owned, through a trust, by an elderly couple.
Aegis Capital Corp. Fined by FINRA
14 December 2018
An AWC was issued in which the firm was censured and fined $64,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to report to the Trade Reporting and Compliance Engine® (TRACE®) transactions in TRACE-eligible corporate debt securities and transactions in TRACE-eligible securitized products within the time required by FINRA Rule 6730(a).
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