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Broker-Dealer Settles FINRA Charges for Late Trade Reporting

A broker-dealer settled FINRA charges for the delayed reporting of municipal securities transactions.

According to FINRA, Dinosaur Financial Group LLC ("Dinosaur") failed to report in a timely manner and/or correctly report 892 TRACE-eligible securities transactions between October 2015 and September 2017. Additionally, Dinosaur allegedly backdated Real-Time Transaction Reporting System reports on several occasions.

Dinosaur agreed to pay a fine of $200,000 and to enhance its supervisory systems and procedures.

Primary Sources

  1. FINRA Letter of Acceptance, Waiver and Consent: Dinosaur Financial Group LLC

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Tags

Regulated Activities
Regulatory Reporting Supervision / Compliance Trade Reporting
Regulated Entities
Broker-Dealers
Regulated Products
Debt Municipal Securities
Body of Law
Securities Law
Jurisdiction
US - Federal
Organization
FINRA / MSRB / SEC Exchanges / SIPC / Accountants
Sub-Author
FINRA