FINRA Fines BMO Capital Markets $300,000 Over Trade Reporting Violations

​BMO Capital Markets Corp (BMO CMC) has agreed to pay a $300,000 fine as part of a settlement with the Financial Industry Regulatory Authority (FINRA) regarding allegations of trade reporting failures and supervisory deficiencies.

According to the regulator, between January 2021 and June 2025, the New York-headquartered firm failed to timely report approximately 2,400 securities transactions. Additionally, the firm inaccurately reported roughly 323,000 securities transactions to FINRA’s Trade Reporting and Compliance Engine (TRACE). These actions were found to be in violation of FINRA Rules 6730 and 2010.

The settlement also addressed supervisory issues. FINRA stated that during the relevant period, BMO CMC "failed to establish, maintain, and enforce a supervisory system, including written supervisory procedures (WSPs), that was reasonably designed to achieve compliance with TRACE reporting obligations." This constituted a violation of FINRA Rules 3110 and 2010.

In addition to the financial penalty, the firm has agreed to a censure. BMO CMC, a FINRA member since 1985, is an institutional broker-dealer focused primarily on equities, government agency securities, and investment-grade corporate bonds.