SG American Securities, LLC (SGAS) has agreed to pay a fine of $ 275,000 as part of a settlement with the Financial Industry Regulatory Authority (FINRA).
From July 2017 to August 2023, SGAS has inaccurately reported 166,421 transactions to the Finra reference and compliance mechanism, in violation of the Finra 6730 and 2010 rules.
In addition, from July 2017 to January 2025, the Company failed to establish, maintain and impose a supervisory system, including written supervisory procedures, which is reasonably designed to achieve compliance with the Company’s Company’s Company, in violation of the Business Rules 3110.
In addition to a fine of $ 275,000, the company agreed to a accusation.
SGAS has been a member of Finra since April 2004.