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within Intellectual Property, International Law, Litigation and Mediation & Arbitration topic(s)
A broker-dealer settled FINRA charges for Order Audit Trail
System ("OATS") reporting violations.
According to FINRA, due to system issues arising during a
transition between third-party order management systems, the
broker-dealer failed to (i) transmit 237,457 reportable order
events ("ROEs") to OATS and (ii) accurately transmit an
additional 82,959 ROEs.
To settle the charges, the broker-dealer agreed to a censure and
a fine of $30,000.
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