Andes Capital Group, LLC has agreed to pay a fine of $25,000 as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).

From June 30, 2020 to the present, Andes Capital has failed to establish, maintain, and enforce written policies and procedures reasonably designed to achieve compliance with Rule 15l-1(a)(1) of the Securities Exchange Act of 1934 (Reg BI), in violation of Reg BI and FINRA Rules 3110 and 2010.

In addition, in connection with six private placement offerings between December 2021 and August 2023, the firm did not timely file required documents with FINRA in violation of FINRA Rules 5123 and 2010.

The firm has agreed to a censure, a fine of $25,000, and an undertaking.

Andes Capital has been a FINRA member since 2006. It is headquartered in Chicago, Illinois, has 36 registered representatives, and two branch offices. The firm’s business primarily consists of selling private placement offerings.