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.
