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Information Notice 6/29/26

Summary

FINRA is issuing this Notice to remind carrying members of the SEC’s compliance date for the required daily customer and PAB reserve computations, which will apply to members with average total credits equal to or greater than $500 million. This Notice also highlights guidance provided by the SEC Division of Trading and Markets staff (Division staff) regarding the reserve deposit adjustment related to sweep program credits and provides information on how carrying members may report such adjustments.

2026090120801 Sung Moo Cho CRD 5015906 AWC lp.pdf

Cho refused to provide information and documents as requested by FINRA pursuant to FINRA Rule 8210 in connection with FINRA’s investigation into, among other things, whether Cho misappropriated customer funds, forged customer signatures, and falsified firm documents while associated with Ameriprise and Citigroup. As a result, Cho violated FINRA Rules 8210 and 2010 and is barred from associating with any FINRA member in all capacities.
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