Highlander Capital was censured and fined $5,000 for falsely representing on the agency’s Kind CRS that neither it nor its related individuals had any authorized or disciplinary historical past. “In actual fact, each the agency and two of its registered representatives had prior authorized or disciplinary historical past,” the order states.
American Wealth Administration, in the meantime, was censured and fined $35,000 for omitting required data from the agency’s Kind CRS. Most importantly, from July 23, 2020, to March 31, 2022, the agency did not disclose on its Kind CRS that it and 6 of its monetary professionals had authorized or disciplinary historical past, the order states.
DMK Advisor Group Inc. was censured and fined $35,000 for failing to determine, keep and implement a supervisory system, together with written supervisory procedures, which required the agency to well timed put together, file and ship its Kind CRS to retail clients by July 30, 2020.
DMK additionally did not ship its Kind CRS to sure of its clients till October 2022.
The broker-dealer DMK additionally failed to determine, keep and implement a supervisory system, together with WSPs, moderately designed to realize compliance with Reg BI and Kind CRS, in keeping with FINRA.
