SEC Waives "Bad Actor" Disqualification for Broker-Dealer

The SEC Division of Corporate Finance waived the "bad actor" disqualification of a broker-dealer after it settled charges with FINRA.

FINRA alleged that the broker-dealer, Noble Capital Markets, Inc. ("Noble") failed to disclose material conflicts of interest in research reports and to several institutional customers (see January Report, Disciplinary and Other FINRA Actions, at p.42). Without denying or admitting to the allegations, Noble and its Chief Executive Officer agreed to a fine. The Chief Executive Officer also agreed to a temporary suspension.