Navaid Financial Services, Inc has agreed to pay a fine of $35,000 as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).

From May 29, 2018 through July 23, 2024, Navaid failed to include the Non-Transaction-Based Compensation (NTBC) indicator when reporting 12,066 municipal securities transactions to the MSRB’s Real-Time Transaction Reporting System (RTRS), in violation of MSRB Rule G-14.

Additionally, from at least May 29, 2018 to June 30, 2025, the firm failed to establish and maintain a supervisory system, including written supervisory procedures, that was reasonably designed to ensure compliance with MSRB Rule G-14, in violation of MSRB Rule G-27.

On top of the $35,000 fine, Navaid has agreed to a censure .

Navaid Financial Services, Inc. has been a FINRA member and a Municipal Securities Rulemaking Board (MSRB) registrant since 1997. The firm, based out of Haddonfield, New Jersey, is engaged in the sale of municipal debt and bonds, among other business lines.