FINRA fines Conners & Co for alleged rule violations
Source: David Maria Nikolova
Conners & Co., Inc. has agreed to pay a $20,000 fine as part of a settlement with the Financial Industry Regulatory Authority (FINRA).
The regulator alleges that from April 2022 through December 2023, the firm charged unfair prices in 23 municipal securities transactions, violating MSRB Rules G-30 and G-17.
FINRA also found the firm failed to maintain a supervisory system reasonably designed to ensure fair pricing compliance, a breach of MSRB Rule G-27.
In addition to the fine and a censure, Conners & Co. must pay $21,111.29 in restitution plus interest and certify in writing that it has remediated the issues.
The firm, a FINRA member since 1960, primarily conducts a municipal securities business from its single office in Cincinnati, Ohio.
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