Taglich Brothers Inc has agreed to pay a fine of $60,000 as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).

From June 2020 to present, Taglich Brothers willfully violated Regulation Best Interest by failing to comply with Reg BI’s Conflict of Interest and Compliance Obligations and failed to deliver Form CRS to certain retail investors.

In addition to supervisory failures related to the Reg BI and Form CRS violations, the firm also failed to complete annual supervisory control system tests as required, from at least June 2018 to the present.

For these violations, Taglich Brothers was censured, fined $60,000, and required to certify its remediation of the issues.

A member firm since January 1992, Taglich Brothers Inc. has nine registered representatives and one branch in Cold Spring Harbor, New York. The firm engages in retail equity trading, investment advisory services, and investment banking including private placements and underwriting.