United States:
Broker-Dealer Settles FINRA Charges For Registration Violations
06 August 2021
Cadwalader, Wickersham & Taft LLP
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A broker-dealer settled FINRA charges for knowingly permitting
an individual to operate as an unregistered principal.
In a Letter of Acceptance, Waiver, and Consent, FINRA found that
the firm's chief executive officer was functioning as an
unregistered principal in violation of FINRA Rule 1220 ("Registration Categories") and
2010 ("Standards of Commercial Honor and
Principles of Trade").
To settle the charges, the firm agreed to (i) a censure and (ii)
a $10,000 fine.
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