Tradier Brokerage, Inc has agreed to pay a fine of $75,000 as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).

From at least July 2022 through December 2023, Tradier Brokerage failed to accurately report statistical and summary information regarding written customer complaints received by the firm.

The statistical and summary information reported by the firm during this period included fewer than twenty complaints, and omitted hundreds of complaints concerning, among other things, the functionality of the firm’s online system and website, poor customer service, and issues with respect to margin and options trading on the firm’s platform.

From at least July 2022 through December 2023, Tradier Brokerage did not establish, maintain or enforce a supervisory system, including written supervisory procedures, reasonably designed to achieve compliance with FINRA Rule 4530(d).

Client service representatives at the firm were responsible for reviewing and escalating written customer communications for purposes of FINRA Rule 4530(d) reporting, and compliance personnel were responsible for identifying and reporting complaints when required.

However, Tradier Brokerage’s training and procedures, including written supervisory procedures, did not provide reasonable guidance to these representatives on how to identify customer complaints or the criteria for determining whether complaints should be included in statistical filings under FINRA Rule 4530(d).

Therefore, Tradier Brokerage violated FINRA Rules 3110 and 2010.

In addition to the $75,000 fine, the firm has agreed to a censure.