From June 30, 2020, through February 2023, Cambridge failed to reasonably supervise a registered representative’s Unit Investment Trust recommendations to achieve compliance with the Care Obligation of Regulation Best Interest. Cambridge therefore violated FINRA Rules 3110 and 2010. For these violations, the firm is censured and fined $200,000.

During a 16-business-day period in February and March 2024, SWBC conducted a securities business while failing to maintain its minimum required net capital, in violation of Section 15(c)(3) of the Securities Exchange Act of 1934, Exchange Act Rule 15c3-1, and FINRA Rules 4110(b)(1) and 2010. In addition, the firm failed to maintain books and records reflecting an accurate computation of its net capital from December 2023 to March 2024; filed with FINRA inaccurate Financial and Operational Combined Uniform Single (FOCUS) reports from December 2023 to February 2024; and failed to file net capita