Tigress Financial Partners, LLC has agreed to pay a fine of $100,000 as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).
Beginning in 2018, Tigress onboarded hundreds of new customers domiciled in high-risk foreign jurisdictions. From January 2018 to March 2022, Tigress’s anti-money laundering (AML) compliance program was not reasonably designed to detect and report suspicious transactions given this new business line.
In addition, from May 2018 to May 2020, Tigress did not disclose the mark-up or mark-down on over 2,000 customer confirmations or reasonably supervise for compliance with its customer confirmation obligations.
For its AML violations (FINRA Rules 3310 and 2010) and its customer confirmation and supervision violations (FINRA Rules 2232, 4511, 3110, and 2010), Tigress is fined $100,000.
Tigress has been a FINRA member since 2011. The firm has approximately 30 registered…
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