Newedge Securities, LLC, agreed to pay a fine of $ 125,000 as part of a settlement with the Financial Industry Regulatory Authority (Finra).
The FINRA (TRACE) reference and compliance mechanism facilitates the mandatory report of certain mobile transactions and provides increased prices transparency to market participants and investors.
From August 2013 to September 2021, Newedge failed to report about 19,160 transactions between itself and another member company (company A).
Further, from August 2013 to May 2021, it was inaccurately mentioned the capacity for approximately 2,690 transactions involving a different member (company B) and the successor of the Member Company (Company C).
Thus, Nevedge violated the rules of Finra 6730 and 2010.
From August 2013 until at least September 2021, Newedge also failed to logically supervise compliance with trace elements reference rules, in violation of the NASD 3010 rule and the FINRA 3110 and 2010 rules.
In addition to a fine of $ 125,000, Newedge agreed to an accusation.