SEC News
- SEC Charges Chicago-Area Father and Son Conducted Cherry-Picking Scheme at Investment Firm May 16, 2013FOR IMMEDIATE RELEASE2013-90 Washington, D.C., May 16, 2013 — The Securities and Exchange Commission today charged a father and son and their Chicago-area investment advisory firm with defrauding clients through a cherry-picking scheme that garnered them nearly $2 million in illicit profits, which they spent on luxury homes, vehicles, and vacations. Addition […]
- SEC Names Keith F. Higgins as Director of Division of Corporation Finance May 15, 2013FOR IMMEDIATE RELEASE2013-89 Washington, D.C., May 15, 2013 — The Securities and Exchange Commission today named Keith F. Higgins as the new director of the agency’s Division of Corporation Finance. Mr. Higgins comes to the SEC from the law firm of Ropes & Gray LLP where he is a partner in its Boston office with 30 years of experience advising public com […]
- SEC Names Lona Nallengara as Chief of Staff May 15, 2013FOR IMMEDIATE RELEASE2013-88 Washington, D.C., May 15, 2013 — The Securities and Exchange Commission today announced that Lona Nallengara has been named the agency’s chief of staff. Mr. Nallengara came to the SEC in March 2011 and served as deputy director for legal and regulatory policy in the Division of Corporation Finance until he was appointed in Decemb […]
- SEC Charges China-Based Executives in Scheme to Overstate Revenues and Divert Money for Personal Use May 15, 2013FOR IMMEDIATE RELEASE2013-87 Washington, D.C., May 15, 2013 — The Securities and Exchange Commission today charged husband-and-wife executives at a China-based company with engaging in a scheme to overstate the company’s revenues and divert proceeds from a securities offering for their personal use. Additional Materials SEC Complaint The SEC alleges that RIN […]
- SEC, FINRA Issue Investor Alert On Pension or Settlement Income Streams May 9, 2013FOR IMMEDIATE RELEASE2013-86 Washington, D.C., May 9, 2013 — The Securities and Exchange Commission and the Financial Industry Regulatory Authority (FINRA) today issued an investor alert entitled Pension or Settlement Income Streams – What You Need to Know Before Buying or Selling Them. The investor alert informs investors about the risks involved when selli […]
TAG | TRACE
Mar/12
6
Coral Gables, FL, Brokerage Censured and Fined by FINRA
Comments off · Posted by Securities Lawyer in FINRA
The following information was obtained on FINRA’s website’s ‘Disciplinary Actions, February 2012.”
Mercantil Commercebank Investments Services (CRD #117284, Coral Gables, Florida)
submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured, fined $20,000 and required to report to TRACE the transactions that were not previously reported.
Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that it failed to report transactions in TRACEeligible securities to TRACE that it was required to report. The findings stated that the firm’s supervisory system did not provide for supervision reasonably designed to achieve compliance with applicable securities laws, regulations and FINRA rules concerning TRACE reporting.
(FINRA Case #2011027361001)
The information from FINRA’s website has ended.
Securities Lawyer, Lars K. Soreide, of Soreide Law Group, PLLC, has represented clients nationwide.
For a free consultation with an attorney, please call 888-760-6552, or visit our website at: www.securitieslawyer.com.
'Trade Reporting And Compliance Engine · brokerage not in compliance · failure by brokerage to provide supervision of brokers · failure to record transactions by brokerage · failure to supervise brokers · failure to supervise company policies · Financial Industry Regulatory Authority · FINRA · fort lauderdale securities fraud lawyer · Ft. Lauderdale Securities Lawyer · Lars K. Soreide · Lars K. Soreide Soreide Law Group · Mercantil Commercebank Investments Services · Mercantile Commercebank Coral Gables FL · Mercantile Commercebank fined and censured by FINRA · securities lawyer · Soreide Law Group PLLC · stockbroker misconduct · supervisory failures · TRACE · TRACEleigible securities
