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2022073920901 William Henry Sandeman CRD 831384 AWC ks.pdf

Between December 2020 and January 2025, Sandeman recommended that 81 retail customers purchase and hold volatility-linked and non-traditional exchange-traded products (ETPs) as long-term investments. Sandeman made these recommendations without a reasonable understanding of the risks associated with the products and without a reasonable basis to believe that the recommendations were in the best interest of his retail customers. As a result, Sandeman willfully violated Rule 151-l(a)(l) of the Securities Exchange Act of 1934 (Regulation BI or Reg BI) and violated FINRA Rule 2010.

FINRA Fines Revere Securities $800,000 for Small-Cap IPO-Related AML and Supervisory Failures

WASHINGTON—FINRA has fined Revere Securities LLC $800,000 for anti-money laundering (AML) and supervisory violations related to small-cap initial public offerings (IPOs) for foreign-based issuers. As part of the settlement, FINRA also required Revere to retain a third-party consultant to conduct a review of compliance with FINRA rules, obtain a report from the consultant with recommendations on how to remediate its supervisory procedures and systems, and implement those recommendations.

Regulatory Notice 26-17

Summary

FINRA has adopted amendments to FINRA Rule 4515.01 (Allocations of Orders Made by Investment Advisers) to eliminate the requirement that a principal review and approve allocations of bulk investment adviser orders received after trade date. The amendments preserve investor protections while removing unnecessary burdens in light of technological advances in the processing of allocations. The amendments will become effective on November 16, 2026.

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