Puente Servicios Financieros LLC has agreed to pay a fine of $20,000 as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).
Between August 2021 and May 2024, Puente failed to disclose required mark-up and mark-down information on 1,379 retail customer confirmations in violation of FINRA Rules 2232 and 2010.
During that period, the firm also failed to establish, maintain, and enforce a supervisory system, including written supervisory procedures (WSPs), reasonably designed to achieve compliance with FINRA Rule 2232’s mark-up and mark-down disclosure requirements in violation of FINRA Rules 3110 and 2010.
On top of the $20,000 fine, the firm has agreed to a censure.
Puente has been a FINRA member since 2020. The firm, which is headquartered in Miami, Florida, has three branch offices and 13 registered representatives. Puente conducts a general securities business and facilitates the buying and selling of equity and debt securities and mutual funds on behalf of retail and institutional customers.
