The Financial Industry Regulatory Authority is ordering four financial firms to pay $105,000 in fines for Municipal Securities Rulemaking Board violations related to political contribution, pricing, supervision, and other rules. The SRO noted the fines in its monthly disciplinary report.
One firm, Interactive Brokers LLC, must pay $7,500 for trade reporting violations related to Rule G-14’s requirements. The financial firm is accused of not reporting 60 sale and purchase transactions to the Real Time Transaction Reporting System within 15 minutes of their execution during 2010’s third quarter.
A second firm, Barclays Capital Inc, has to pay $15,000 for violating rules G-14, G-8, and G-27. The firm purportedly did not report 40 transactions to the RTRS, also within 15 minutes of their execution during 2011’s second quarter. It is accused of not reporting the correct trade time of 66 transactions.
Lebenthal & Co’s fine is $25,000 for violating Rule G-27 and Rule G-37 on political contributions. The firm is accused of filing 13 incomplete form G-37’s with the municipal securities rulemaking board between February 2008 and November 2011.
Advisors Asset Management, which is located in Colorado, must pay $57,500 for purported widespread trade reporting and resulted errors that would have taken place between March 2008 and October 2010, including the failure to correctly report thousands of transactions. The firm is accused of violating rules G-8 on books and records, G-15 on confirmation, clearance and settlement requirements G-14 on trade reporting, and G-27 on supervision.
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Municipal Securities Rulemaking Board
Financial Industry Regulatory Authority
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