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.
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