The XP Investments US, LLC agreed to pay a fine of $ 185,000 as part of a settlement with the Financial Industry Regulatory Authority (Finra).
From June 2019 to June 2022, the XP violated the Finra 5210 and 2010 rules, overestimating the Bloomberg trade volume, a private -based data provider, in about 3,300 cases of approximately 446 million shares.
From at least in June 2019 to December 2023, the XP violated the FINRA 3110 and 2010 rules, not establishing and maintaining a supervisory system, including written supervisory procedures (WSPS), which is logically designed to achieve compliance with Rule 5210.
For these violations, the XP was charged and imposed a fine of $ 185,000.
The XP has been a member of Finra since 2011. The company is headquartered in New York, New York and has about 100 registered representatives in three sectors. The XP company includes, inter alia, providing commercial transaction and brokerage services to retail and institutional customers.