Madison Global Partners gets a slap on the wrist for failing to maintain required minimum net capital
Madison Global Partners LLC has agreed to pay a fine of $20,000 as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).
On nine days between November 2020 and April 2023, Madison Global Partners conducted a securities business while failing to maintain the required minimum net capital.
As a result, the firm violated Section 15(c)(3) of the Securities Exchange Act of 1934, Exchange Act Rule 15c3-1, and FINRA Rules 4110(b)(1) and 2010.
During the same period, Madison Global Partners failed to seek or obtain approval for a material change in business operations, participating in firm commitment offerings.
Therefore, the firm violated FINRA Rules 1017 and 2010.
On top of the $20,000 fine, Madison Global Partners has agreed to a censure.
Madison Global Partners has been a FINRA member since August 2017. The firm, which is headquartered in Hauppauge, NY, engages in a general securities business.
