SG Americas Securities, LLC has agreed to pay a fine of $950,000 as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).
Federal securities laws require that FINRA member firms fingerprint most associated persons prior to or upon association with a firm. The firms review the fingerprint results as part of their background check to determine, among other things, whether a prospective associated person has previously engaged in misconduct that subjects that person to a statutory disqualification.
As set forth in Section 3(a)(39) of the Securities Exchange Act of 1934, certain criminal and regulatory events will subject a person to a statutory disqualification.
Since at least January 2016, SG Americas has failed to fingerprint and review the fingerprint results to screen for statutory…
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