Noble Capital Markets, Inc has agreed to a fine and a censure as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).

Between September 2019 and January 2020, Noble failed to establish, maintain, and enforce a supervisory system, including written supervisory procedures (WSPs), reasonably designed to achieve compliance with provisions of the federal securities laws related to the general solicitation of private placement offerings.

Additionally, Noble failed to reasonably supervise a registered representative who, in connection with two private offerings, cold-called more than 40 prospective investors who did not have substantive relationships with the firm prior to its participation in the offerings.

As a result, Noble violated FINRA Rules 3110 and 2010. The firm was censured and fined $45,000.

Noble has been a FINRA member since 1984. The firm, which is headquartered in Boca Raton, Florida, conducts a general securities business, including underwriting activities and sales of private placement offerings.