Puente Servicios Financieros LLC agreed to pay a $20,000 fine as part of a settlement with the Financial Industry Regulatory Authority (FINRA).
Between August 2021 and May 2024, Puente failed to disclose required markup and markdown information for 1,379 retail client confirmations in violation of FINRA Rules 2232 and 2010.
During this period, the firm also failed to establish, maintain and enforce a system of supervision, including written supervisory procedures (WSPs), reasonably designed to achieve compliance with FINRA’s increase and decrease disclosure requirements in violation of FINRA Rules 3110 and 2010.
In addition to the $20,000 fine, the company agreed to a censure.
Puente has been a member of FINRA since 2020. The firm, which is headquartered in Miami, Florida, has three branches and 13 registered agents. Puente conducts a general securities business and facilitates the buying and selling of equity and debt securities and mutual funds on behalf of retail and institutional clients.