SAL Equity Trading, GP has agreed to pay a fine of $75,000 as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).
From February 2021 to May 2023, SALET inaccurately reported to the Trade Reporting and Compliance Engine (TRACE) approximately 183,000 transactions in TRACE-eligible securities without the required “No Remuneration” (NR) indicator, in violation of FlNRA Rules 6730(d) and 2010.
During the same period, SALET failed to establish and maintain a supervisory system, including written supervisory procedures (WSPs), reasonably designed to achieve compliance with FINRA Rule 6730(d), in violation of FINRA Rules 3110 and 2010.
On top of the fine, the firm has agreed to a censure.
