SR-FINRA-2025-006
Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to amend provisions of the FINRA Rule 9000 Series (Code of Procedure) and Funding Portal Rule 900 Series (Code of Procedure) that require or allow for a sanction or other regulatory measure to take effect immediately.
2024081111301 Michael Cheng Ning CRD 1229733 Complaint lp (2025-1751674799310).pdf
The Department of Enforcement alleges:
1. In November and December 2024, Respondent Michael Cheng Ning, in his capacity as custodian of records for former member firm Arque Capital, Ltd., failed to respond to requests for documents and information that FINRA made pursuant to FINRA Rules 4570(b) and 8210 as part of FINRA’s investigation into whether certain securities recommendations by the firm’s registered representatives to customers of two former Arque Capital registered representatives were in the best interests of their customers.
2021072257301 XP Securities US, LLC CRD 156691 AWC lp (2025-1751674799296).pdf
From June 2019 through June 2022, XP violated FINRA Rules 5210 and 2010 by overstating its advertised trade volume on Bloomberg, a private, subscription-based provider of market data, in approximately 3,300 instances by approximately 446 million shares.
From at least June 2019 through December 2023, XP violated FINRA Rules 3110 and 2010 by not establishing and maintaining a supervisory system, including written supervisory procedures (WSPs), reasonably designed to achieve compliance with FINRA Rule 5210.
For these violations, XP is censured and fined $185,000.
2019064656601 Charles Scott Burford 1658201 SEC jhjr (2025-1751674799372).pdf
SECURITIES AND EXCHANGE COMMISSION Washington, D.C. SECURITIES EXCHANGE ACT OF 1934 Release No. 103180 / June 4, 2025 Admin. Proc. File No. 3-21915 In the Matter of the Application of CHARLES SCOTT BURFORD For Review of Disciplinary Action Taken by FINRA OPINION OF THE COMMISSION REGISTERED SECURITIES ASSOCIATION — REVIEW OF DISCIPLINARY PROCEEDING Person formerly associated with FINRA member firm appeals from FINRA disciplinary action finding that he effected unauthorized transactions in deceased customer's account, suspending him for six months, and imposing a $10,000 fine.
SR-FINRA-2025-005
Financial Industry Regulatory Authority, Inc. (“FINRA”) is filing with the Securities and Exchange Commission (“SEC” or “Commission”) a proposed rule change to amend the FINRA Capital Acquisition Broker Rules.