From at least January 2020 to May 2024, Moors & Cabot violated FINRA Rules 3310(a), 3310(f)(ii), and 2010 by failing to develop and implement an anti-money laundering (AML) compliance program reasonably expected to detect and cause the reporting of suspicious transactions, including transactions involving money movements, and to conduct ongoing monitoring to identify and report suspicious transactions.

Between March 2023 and October 2024, Talbot recommended to one retail customer a series of trades that were excessive and not in the customer’s best interest. As a result, Talbot willfully violated the Best Interest Obligation under Rule 15l-1(a)(1) of the Securities Exchange Act of 1934 (Regulation BI or Reg BI) and violated FINRA Rule 2010. For these violations, Talbot is suspended for four months in all capacities.