Broker-Dealer Fined for Failing to Update Employee Registration Forms

A broker-dealer firm settled FINRA charges for failing to amend its representatives' Uniform Application for Securities Industry Registration or Transfer (or "Form U-4") in a timely manner to disclose certain negative events, including bankruptcies and outstanding liens.

To settle the charges, the broker-dealer agreed to a (i) censure and (ii) fine of $200,000.