FINRA imposes $475k fine on Kepler Capital Markets
Kepler Capital Markets Inc has agreed to pay a fine of $475,000 as a part of a settlement with the Financial Industry Regulatory Authority (FINRA).
From December 2016 to October 2022, Kepler violated FINRA Rules 5210 and 2010 by overstating its advertised trade volume on Bloomberg, a private subscription-based provider of market data, in approximately 377,000 instances, by approximately 2.1 billion shares.
Additionally, from December 2016 to February 2023, Kepler violated FINRA Rules 3110 and 2010 by failing to establish and maintain a supervisory system, including written supervisory procedures (WSPs) reasonably designed to achieve compliance with FINRA Rule 5210.
On top of the $475,000 fine, the firm has agreed to a censure.
