ANZ Securities, Inc. has agreed to pay a fine of $50,000 as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).
From July 2016 through June 2023, ANZ inaccurately reported to the Trade Reporting and Compliance Engine (TRACE) approximately 36,500 transactions without the required “No Remuneration” (NR) Indicator and approximately 22,500 of those transactions also without the required Non-Member Affiliate-Principal Transaction (NMA-PT) Indicator, in violation ofFINRA Rules 6730(d) and 2010.
In addition, between July 2016 through at least June 2023, ANZ’s supervisory system, including its written supervisory procedures (WSPs), was not reasonably designed to achieve compliance with FINRA Rule 6730(d), in violation of FINRA Rules 3110 and 2010.
For these violations, ANZ was censured, fined $50,000, and consented to an undertaking to take corrective action.
ANZ has been a FINRA member since 1995. The firm is headquartered in New York, NY and has approximately 30 registered representatives operating out of one branch location.
