FINRA Fines Tradier Brokerage $75,000 Over Complaint Reporting Failures

​FINRA has fined Tradier Brokerage $75,000 following a settlement over deficiencies in the firm’s reporting of written customer complaints.

According to FINRA, from at least July 2022 through December 2023, Tradier failed to accurately report statistical and summary information regarding written complaints. During that period, the firm’s filings reflected fewer than 20 complaints, while omitting hundreds related to issues such as platform functionality, customer service, and margin and options trading.

FINRA also found that the firm did not establish or maintain a supervisory system reasonably designed to ensure compliance with Rule 4530(d). Client service representatives were tasked with reviewing and escalating written communications, while compliance staff were responsible for identifying and reporting complaints. However, the firm’s training and written supervisory procedures “did not provide reasonable guidance” on how to identify reportable complaints or determine which should be included in regulatory filings.

As a result, FINRA concluded that Tradier violated Rules 3110 and 2010. In addition to the fine, the firm agreed to a censure.