Fiallo refused to provide documents and information requested pursuant to FINRA Rule 8210. As a result, he violated FINRA Rules 8210 and 2010 and is barred from associating with any FINRA member in all capacities.

In July 2024, Critcher negligently misrepresented that corporate bonds he recommended to two senior customers were FDIC-insured certificates of deposit. As a result, Critcher’s actions contravened Section 17(a)(2) of the Securities Act of 1933 and thereby violated FINRA Rule 2010. For this conduct, Critcher is suspended for three months, fined $5,000, and required to requalify by examination before acting as a General Securities Representative with any FINRA member.

Since June 2019, Moomoo has failed to have a reasonable supervisory system, including written supervisory procedures (WSPs), concerning Large Options Positions Report (LOPR) reporting. Until March 2023, Moomoo failed to have any system to identify and report reportable options positions of firm customers held in omnibus accounts and, through the present, its supervision of LOPR reporting remains unreasonable. Further, Moomoo failed to report more than 4,000 listed options in more than 20,000 instances.