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MCAP LLC has been formally censured by the Financial Industry Regulatory Authority following the discovery of substantial shortcomings in its anti-money laundering compliance framework. The enforcement action stems from the firm’s failure to meet essential regulatory obligations, particularly those requiring routine evaluation of systems intended to detect and prevent financial crime. According to the findings, these deficiencies underscore the broader obligation placed on me

Herold and Lantern Investments Incorporated has been formally censured and ordered to pay a $125,000 penalty by the Financial Industry Regulatory Authority after regulators uncovered major shortcomings in the firm’s anti-money laundering safeguards. The enforcement action followed findings that the brokerage failed to establish a compliance framework capable of reasonably detecting and reporting suspicious activity related to low-priced securities between November 2020 and Ma

The Financial Industry Regulatory Authority (FINRA) has levied a $1.1 million fine and issued a censure against three Cetera entities after uncovering systemic deficiencies in their anti-money laundering (AML) controls and oversight of low-priced securities. The regulatory body determined that from March 2019 through August 2021, Cetera Advisors, Cetera Wealth Services, and Cetera Investment Services “operated a compliance program that was not reasonably designed to detect or

FINRA has issued a $100,000 fine against Mundial Financial Group after identifying serious and long-running breakdowns in the firm’s anti-money laundering controls. The enforcement action follows years of deficiencies spanning customer identification, transaction surveillance, and internal governance, which regulators concluded left the firm highly exposed to illicit trading and money laundering risks. Investigators also found that these weaknesses were exacerbated by the inv