Wall Street Access has agreed to pay a fine as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).

Between October 2019 and April 2021, Wall Street Access (WABR) violated Rule 611(c) of Regulation National Market System (NMS) of the Securities Exchange Act of 1934 and FINRA Rule 2010 by failing to take reasonable steps to establish that the intermarket sweep orders (ISOs) it routed to certain market centers met the requirements for an ISO.

The firm also failed to establish and maintain a supervisory system, including written supervisory procedures (WSPs), reasonably designed to prevent trade-throughs, in violation of Rule 611(a) of Regulation NMS and FINRA Rules 3110 and 2010.

To settle the matter, the firm has agreed to a censure and a $125,000 fine, of which $24,563.18 must be paid to FINRA. The balance of the sanction will be paid to Cboe BYX Exchange, Inc., Cboe BZX Exchange, Inc., Cboe EDGA Exchange, Inc., Cboe EDGX Exchange, Inc., Investors Exchange, New York Stock Exchange LLC, NYSE Arca, Inc., and NYSE American LLC.

Wall Street Access has been a FINRA member since June 1981. The firm’s principal place of business is New York, New York, and it currently employs approximately 40 registered representatives at its nine branch offices.