Between September 2017 and January 2022, Cantor violated Rule 104 of Regulation M of the Securities Exchange Act of 1934 and FINRA Rule 2010 in 12 instances by filing untimely notices of its intent to engage in syndicate covering transactions. Between February 2017 and January 2022, Cantor violated FINRA Rules 5190 and 2010 in 75 instances by filing untimely or inaccurate notifications with FINRA in connection with its participation in security distributions that were subject to Regulation M under the Exchange Act.

In March 2022, IBI conducted a securities business while failing to maintain its minimum required net capital. As a result, IBI violated the Securities Exchange Act of 1934 § 15(c), Exchange Act Rule 15c3-1, and FINRA Rules 4110 and 2010. During the same period, the firm recorded its net capital inaccurately on its books and records, and filed inaccurate FOCUS reports, in violation of Exchange Act§ 17(a), Exchange Act Rules 17a-3 and 17a-5, and FINRA Rules 4511 and 2010.