FINRA Fines Dinosaur Financial Group $120,000 Over Trade Reporting Failures

Dinosaur Financial Group, LLC has agreed to pay a $120,000 fine as part of a settlement with the Financial Industry Regulatory Authority (FINRA), the regulator said. The firm also accepted a censure.

According to FINRA, from October 2022 through March 2025, Dinosaur Financial failed to timely report 1,276 TRACE-eligible securities to FINRA’s Trade Reporting and Compliance Engine (TRACE), violating FINRA Rules 6730(a) and 2010. Over the same period, the firm also failed to timely report 507 municipal securities transactions to the Municipal Securities Rulemaking Board’s (MSRB) Real-time Transaction Reporting System (RTRS), in violation of MSRB Rule G-14(b).

FINRA further said the firm did not establish, maintain, and enforce a supervisory system, including written supervisory procedures (WSPs), reasonably designed to achieve compliance with applicable reporting requirements under FINRA Rule 6730 and MSRB Rule G-14. That failure violated FINRA Rules 3110 and 2010 and MSRB Rule G-27.

Dinosaur Financial has been a FINRA member since March 2001 and an MSRB registrant since April 2003. The New York-headquartered firm has approximately 45 registered representatives and 17 branch offices.