2024084047901 PNC Investments LLC CRD 129052 AWC lp (2025-1752711604270).pdf

From at least June 2021 to the present, PNCI failed to establish and maintain a reasonably designed supervisory system, including written supervisory procedures (WSPs), for the surveillance of rates of deferred variable annuity (VA) exchanges. The firm’s supervisory system did not require the firm to determine if its associated persons had rates of effecting VA exchanges that raised for review whether such rates evidenced conduct inconsistent with FINRA rules or the federal securities laws as required by FINRA Rule 2330(d), and did not provide guidance as to how to make that determination.

2020066079905 Nicholas Lorenzo CRD 2630518 AWC lp (2025-1752711603949).pdf

From February 2017 through December 2022, as head of Canaccord’s trading compliance group, Lorenzo failed to perform certain of his supervisory responsibilities by delegating and assigning the review of surveillance reports to his subordinates without reasonably following through to confirm the reviews were being conducted. He also failed to reasonably investigate red flags that certain of the reviews were not being performed. As a result, Lorenzo violated FINRA Rules 3110 and 2010.

2020066079904 Diane Daly CRD 2372551 AWC (2025-1752711603922).pdf

From February 2017 to December 2022, Daly failed to reasonably supervise Canaccord’s surveillance of its securities transactions in violation of FINRA Rules 3110 and 2010 and from at least October 2016 to December 2022 failed to develop and implement an anti-money laundering (AML) compliance program at Canaccord that was reasonably designed to achieve and monitor compliance with the requirements of the Bank Secrecy Act and its implementing regulations, in violation of FINRA Rules 3310 and 2010.

Ethan Hattendorf Comment On Regulatory Notice 25-07

The FINRA requirement to maintain at least half our work time in office, rather than working 100% remotely. It seems clear that we were able to function via a fully remote work environment during the COVID19 pandemic lockdown and the mandatory work in office is unnecessary. Moreover, the requirement to work in office increasingly feels antiquated and deleterious to many brokers' mental health and function. I would strongly encourage FINRA to rescind the mandatory in office requirements and allow agents who want to do so to remain fully remote.

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