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Broker-Dealer Settles FINRA Charges for Registration Violations

A broker-dealer settled FINRA charges for knowingly permitting an individual to operate as an unregistered principal.

In a Letter of Acceptance, Waiver, and Consent, FINRA found that the firm's chief executive officer was functioning as an unregistered principal in violation of FINRA Rule 1220 ("Registration Categories") and 2010 ("Standards of Commercial Honor and Principles of Trade").

To settle the charges, the firm agreed to (i) a censure and (ii) a $10,000 fine.

Primary Sources

  1. FINRA AWC: Dough LLC

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Tags

Regulated Activities
Employee Matters
Sub-Activity
Qualifications
Regulated Entities
Broker-Dealers
Body of Law
Securities Law
Jurisdiction
US - Federal
Organization
FINRA / MSRB / SEC Exchanges / SIPC / Accountants
Sub-Author
FINRA