NewEdge Securities, LLC has agreed to pay a fine of $125,000 as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).

FINRA’s Trade Reporting and Compliance Engine (TRACE) facilitates the mandatory reporting of certain securities transactions and provides increased price transparency to market participants and investors.

From August 2013 to September 2021, NewEdge failed to report to TRACE approximately 19,160 transactions between itself and another member firm (Firm A).

Further, from August 2013 to May 2021, NewEdge inaccurately reported to TRACE the capacity for approximately 2,690 transactions involving a different member firm (Firm B) and that member firm’s successor (Firm C).

NewEdge thus violated FINRA Rules 6730 and 2010.

From August 2013 to at least September 2021, NewEdge also failed to reasonably supervise the firm’s compliance with TRACE reporting rules, in violation of NASD Rule 3010 and FINRA Rules 3110 and 2010.

On top of the $125,000 fine, NewEdge has agreed to a censure.