A broker-dealer settled FINRA charges for failing to report certain transactions to Trade Reporting and Compliance Engine ("TRACE") in a timely manner.
As summarized in the Letter of Acceptance, Waiver and Consent, the broker-dealer did not report 167 corporate debt securities transactions to TRACE within the allowed time. FINRA stated that the late reports were the result of (i) delays caused by employees and (ii) late revisions made to TRACE reports previously submitted by the broker-dealer.
To settle the charges, the broker-dealer agreed to (i) a censure and (ii) a fine of $18,500.
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