From August 2020 to December 2022, Parks recommended sales of private placements to retail customers without having the required registration to engage in this activity. Accordingly, Parks violated FINRA Rules 1210 and 2010. For these violations, Parks is suspended for three months in all capacities and fined $5,000.

MCAP failed to conduct any independent testing of its anti-money laundering (AML) program in calendar years 2021 and 2022, and the firm’s independent testing of its AML program in calendar years 2023 and 2024 was unreasonable, in violation of FINRA Rules 3310(c) and 2010. For these violations, MCAP is censured and fined $15,000.