Conners & Co., Inc has agreed to pay a fine of $20,000 as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).

From April 2022 through December 2023, Conners & Co. charged customers an unfair price in 23 municipal securities transactions, in violation of MSRB Rules G-30 and G-17.

In addition, during that period, the firm failed to establish and maintain a supervisory system, including written supervisory procedures (WSPs), reasonably designed to achieve compliance with its fair pricing obligations, in violation of MSRB Rule G-27.

Conners & Co has agreed to a censure in addition to the fine of $20,000. The firm will have to pay restitution of $21,111.29, plus interest. It has also agreed to an undertaking to certify in writing that it has remediated the issues.

Conners & Co. has been a FINRA member since 1960 and a Municipal Securities Rulemaking Board (MSRB) registrant since 1975. The firm has three registered representatives and one office located in Cincinnati, Ohio. The firm primarily conducts a municipal securities business.