Regulatory Notice 26-07

FINRA has adopted a limited, temporary exception for reporting qualifying overnight transactions occurring prior to 8:00 a.m. Eastern Time that are appended with the .W modifier and that either result from an overnight batch process, or involve a trade for exchange-traded fund shares based on a net asset value that is published while the trade reporting facilities are closed.

2022076848801 Herold & Lantern Investments, Inc. CRD 30996 AWC lp.pdf

From November 2020 through May 2024, Herold & Lantern failed to establish and implement an anti-money laundering (AML) compliance program reasonably designed to detect and cause the reporting of suspicious transactions in low-priced securities, in violation of FINRA Rules 3310(a), 3310(f)(ii) and 2010. For these violations Herold & Lantern is censured and fined $125,000.

2019060647601 Reid & Rudiger LLC CRD 47263 Edward J. Rudiger, Jr. CRD 2118724 Clifford R. Reid CRD 1905920 Kelli A. Mezzatesta CRD 4701170 Marc Harrison CRD 1605568 Complaint lp.pdf

The Department of Enforcement alleges: 1. For nearly six years, Reid & Rudiger LLC churned and/or excessively traded 20 customers’ accounts, causing significant harm to those customers while generating millions in revenue for the firm. The two representatives whose trading resulted in this egregious customer harm have their names on the firm’s door—Respondents Edward J. Rudiger Jr. and Clifford R. Reid. They were supervised by the firm’s majority owner, Respondent Marc Harrison, and by Respondent Kelli A.
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