United States:
Broker-Dealer Settles FINRA Charges Of TRACE Reporting And Recordkeeping Violations
12 December 2019
Cadwalader, Wickersham & Taft LLP
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A broker-dealer agreed to settle FINRA charges for late and
inaccurate reporting and recordkeeping violations.
According to the FINRA Letter of Acceptance, Waiver and Consent,
the broker-dealer:
- failed to report the correct time of
execution for 266 transactions in TRACE-eligible securitized
products and to record the correct time of execution on the
memoranda of the brokerage order for 71 of the 266 transactions;
and
- failed to report in a timely manner
287 transactions in TRACE-eligible securitized products.
The broker-dealer agreed to pay $30,000 to settle the
charges.
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