Aegis Capital Corp has agreed to pay a fine as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).

Between January 2021 and January 2025, in 90 instances, Aegis submitted untimely or incomplete restricted period notifications and trading notifications, or failed to submit such notifications, with FINRA in connection with its participation in security distributions that were subject to Regulation M of the Securities Exchange Act of 1934, in violation of FINRA Rules 5190 and 2010.

In addition, between August 2019 and the present, Aegis failed to establish and maintain a supervisory system, including written supervisory procedures, reasonably designed to achieve compliance with FINRA Rule 5190, in violation of FINRA Rules 3110 and 2010.

Finally, Aegis made inaccurate representations in a Corrective Action Statement it submitted to FINRA, in violation of FINRA Rule 2010.

For these violations, Aegis was censured and fined $400,000, of which $185,000 must be paid to FINRA. The firm must certify that it will enhance its supervisory procedures.