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ARTICLE · 27 JULY 2021

Firm Settles FINRA Charges For Refusing To Produce Documents And Information

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A firm settled FINRA charges for refusing to produce requested documents and information during an investigation of the firm's use of donations.

United StatesFinance and Banking
Hogan Lovells Cadwalader
Hogan Lovells Cadwalader
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A firm settled FINRA charges for refusing to produce requested documents and information during an investigation of the firm's use of donations.

In a Letter of Acceptance, Waiver, and Consent, FINRA stated that it had sent two requests for documents and information. The firm acknowledged receipt of the requests but said that it "will not produce the documents or information at any time."

As a result, the firm violated FINRA Rules 8210 ("Provision of Information and Testimony and Inspection and Copying of Books") and 2010 ("Standards of Commercial Honor and Principles of Trade").

To settle the charges, the firm agreed to an expulsion from FINRA membership. According to the Letter, the firm consented to the sanction and "understands that if it is expelled from FINRA membership, it becomes subject to a statutory disqualification."

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