December 3, 2009 Comments (0) Blog, Securities Fraud

BGC Financial, L.P. (a FINRA broker-dealer based in New York City ) fined and censured by FINRA

(Last Updated On: July 17, 2015)

FINRA (formerly the NASD) recently announced that BGC Financial, L.P. (a FINRA broker-dealer based in New York City ) was censured and fined $10,000.  Without admitting or denying the findings, BGC Financial consented to the entry of findings that it failed, within 90 seconds after execution, to transmit last sale reports of transactions in designated securities to the FINRA/NASDAQ Trade Reporting Facility (TRF).  The findings further stated that BGC Financial failed to report the correct symbol indicating the capacity in which it executed transactions in reportable securities to the TRF, and also failed to report the correct execution time for transactions in reportable securities. This is not the first time that BGC Financial has been investigated by a regulatory agency for possible securities violations or securities fraud.

According to the firm’s FINRA Broker Report (CRD), BGC Financial has been the subject of at least 6 regulatory investigations for violations of securities laws.

If you have questions about investments you made with BGC Financial or believe that you are the victim of a securities fraud, The White Law Group may be able to help. To speak with a securities attorney, pleas call our Chicago office at 312-238-9650.

The White Law Group, LLC is a national securities fraud group, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Boca Raton, Florida.

For more information on The White Law Group, visit http://www.whitesecuritieslaw.com.

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