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.

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.

From at least July 2022 through December 2023, Tradier Brokerage failed to report to FINRA accurate statistical and summary information regarding written customer complaints. During this period, the firm’s supervisory system, including written procedures, was not reasonably designed to achieve compliance with FINRA Rule 4530(d). Therefore, the firm violated FINRA Rules 4530, 3110 and 2010, and is censured and fined $75,000...