USCA Securities LLC has agreed to pay a fine of $75,000 as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).
Between January 2022 and September 2022, USCA conducted a securities business on 35 days while failing to maintain its minimum required net capital, in violation of Section 15(c)(3) of the Securities Exchange Act of 1934, Exchange Act Rule 15c3-1, and FINRA Rules 4110 and 2010.
From December 2021 through July 2022, USCA failed to maintain accurate financial books and records and filed with FINRA eight inaccurate Financial Operational Combined Uniform Single (FOCUS) reports, in violation of Exchange Act § 17(a), Exchange Act Rules 17a-3 and 17a-5, and FINRA Rules 4511 and 2010.
From at least January 2021 through December 2022, USCA violated FINRA Rules 3110 and 2010 by failing to establish and maintain a supervisory system, including written supervisory procedures (WSPs), reasonably…
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