Highlander Capital was censured and fined $5,000 for falsely representing on the agency’s Type CRS that neither it nor its related individuals had any authorized or disciplinary historical past. “The truth is, each the agency and two of its registered representatives had prior authorized or disciplinary historical past,” the order states.
American Wealth Management, in the meantime, was censured and fined $35,000 for omitting required data from the agency’s Type CRS. Most importantly, from July 23, 2020, to March 31, 2022, the agency did not disclose on its Type CRS that it and 6 of its monetary professionals had authorized or disciplinary historical past, the order states.
DMK Advisor Group Inc. was censured and fined $35,000 for failing to determine, preserve and implement a supervisory system, together with written supervisory procedures, which required the agency to well timed put together, file and ship its Type CRS to retail prospects by July 30, 2020.
DMK additionally did not ship its Type CRS to sure of its prospects till October 2022.
The broker-dealer DMK additionally failed to determine, preserve and implement a supervisory system, together with WSPs, moderately designed to realize compliance with Reg BI and Type CRS, in keeping with FINRA.
