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Broker-Dealer Settles FINRA Charges for Trade Reporting and Capital Violations

A broker-dealer agreed to settle FINRA charges for trade reporting and capital rule violations.

According to the Letter of Acceptance, Waiver and Consent, McDonald Partners LLC ("McDonald"):

  • neglected to report certain municipal securities transactions to the MSRB's Real-Time Transaction Reporting System;

  • conducted securities business while failing to keep the required minimum net capital; and

  • prepared incorrect general ledger, trial ledger and net capital computations.

To settle the charges, McDonald agreed to a censure and to pay a civil monetary penalty of $22,500.

Primary Sources

  1. FINRA Letter of Acceptance
  2. Waiver and Consent: McDonald Partners LLC

Tags

Regulated Products
Municipal Securities
Jurisdiction
US - Federal
Organization
FINRA / MSRB / SEC Exchanges / SIPC / Accountants
Sub-Author
FINRA