Broker-Dealer Settles FINRA Charges of TRACE Reporting and Recordkeeping Violations

A broker-dealer agreed to settle FINRA charges for late and inaccurate reporting and recordkeeping violations.

According to the FINRA Letter of Acceptance, Waiver and Consent, the broker-dealer:

  • failed to report the correct time of execution for 266 transactions in TRACE-eligible securitized products and to record the correct time of execution on the memoranda of the brokerage order for 71 of the 266 transactions; and

  • failed to report in a timely manner 287 transactions in TRACE-eligible securitized products.

The broker-dealer agreed to pay $30,000 to settle the charges.

Tags