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:
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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
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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.