ARTICLE
6 August 2021

Broker-Dealer Settles FINRA Charges For Registration Violations

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A broker-dealer settled FINRA charges for knowingly permitting an individual to operate as an unregistered principal.
United States Finance and Banking
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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.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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