Kingswood Capital Partners, LLC has agreed to pay a fine of $150,000 as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).

From March 2019 through June 2019, Kingswood failed to reasonably supervise a former registered representative’s recommendations of illiquid alternative investments to three senior customers.

Kingswood also failed to establish and maintain written procedures reasonably designed to achieve compliance with suitability requirements with respect to those alternative investments.

Kingswood therefore violated FINRA Rules 3110 and 2010.

On top of the $150,000 fine, Kingswood has agreed to a censure.

Kingswood has been a FINRA member since 2018 and is headquartered in San Diego, California. Kingswood conducts a general securities business with approximately 200 registered representatives at 67 branches.