DriveWealth, LLC has agreed to pay a fine of $1.1 million as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).

Between February 2016 and March 2022, DriveWealth failed to report over 211 million fractional share trades to a FINRA trade reporting facility (TRF) and approximately 169 million reportable events involving fractional share trades to the Consolidated Audit Trail (CAT) Central Repository.

Between October 2021 and August 2025, the firm submitted approximately 127 million inaccurate or late reports to the TRFs and approximately 2.1 billion inaccurate reportable events to the CAT Central Repository. As a result, DriveWealth violated FINRA Rules 6380A, 6380B, 6622, 6830, 6893, and 2010.

DriveWealth completed its back-reporting of the fractional share trades in March 2022.

Thereafter, FINRA identified over 110,000 instances between January 2020 and September 2021 where DriveWealth effected trades during trading halts, pauses, and market-wide circuit breakers, in violation of FINRA Rules 5260, 6121, and 2010.

Until November 2025, the firm did not establish, maintain, and enforce a supervisory system reasonably designed to achieve compliance with its obligations for trade reporting, CAT reporting, and preventing trading during halts, in violation of FINRA Rules 3110 and 2010.

The firm has agreed to a censure, in addition to the fine of $1,100,000. It is also ordered to pay restitution of $55,122.15.

DriveWealth became a member of FINRA in December 2013. The firm is headquartered in New York, New York, employs approximately 65 registered representatives, and has three branch offices. DriveWealth provides brokerage services to correspondent broker- dealers to trade equity securities and exchange-traded funds, including in fractional shares.