A broker-dealer agreed to settle FINRA charges for multiple violations including providing inaccurate statements, paying unregistered individuals and failing to have an adequate supervisory system.
According to the Letter of Acceptance, Waiver and Consent, Halifax America, LLC ("Halifax"):
- provided inaccurate statements to FINRA in connection with Halifax's application for registration as a new member;
- allowed an unregistered person to partake in securities activities requiring registration;
- failed to establish, maintain and enforce a supervisory system sufficiently designed to review the trading activity in customer accounts; and
- neglected to establish, document and maintain an adequate Customer Identification Program.
To settle the charges, Halifax agreed to a censure, and to pay a $60,000 fine.
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