In 2017 and 2022, Leon borrowed $750,000 from one of his securities customers without notifying or obtaining approval from Global Financial, violating FINRA Rules 3240 and 2010. For these violations, Leon is suspended for two months and fined $5,000.

From April 2022 through May 2024, in approximately 1,725 instances, BNY Mellon Capital Markets reported transactions to the MSRB’s Real Time Transaction Reporting System (RTRS) without the required special condition indicator for transactions in new issue municipal securities, in violation of MSRB Rule G-14. From April 2022 through at least May 2024, the firm violated MSRB Rule G-27 by failing to establish and maintain a supervisory system, including written procedures, reasonably designed to ensure compliance with the firm’s reporting obligation under MSRB Rule G-14.