Northern Trust Securities, Inc. has agreed to pay a fine of $150,000 as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).
From August 2016 to December 2024, Northern Trust violated FINRA Rules 6730 and 2010 by failing to report its commissions to the Trade Reporting and Compliance Engine (TRACE) for certain transactions in TRACE-eligible securities.
During the same period, the firm violated FINRA Rules 3110 and 2010 by failing to establish and maintain a supervisory system reasonably designed to achieve compliance with FINRA Rule 6730.
For these violations, Northern Trust was censured and fined $150,000.
Northern Trust has been a member of FINRA since May 1979, and is headquartered in Chicago, Illinois. Among other things, the firm provides brokerage execution services. The firm has 57 branch offices and approximately 380 registered representatives.
