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Small B-D to Pay $50K to End SEC’s Reg BI Claims  

Friday, Sep 29 2023
Regulatory & Compliance
Written by  PFA News

Carl M. Hennig Inc. has agreed to pay $50,000 to settle the Securities and Exchange Commission’s claims that it fell short of Regulation Best Interest, according to the regulator. So reports InvestmentNews.

SEC Seal of the United States Securities and Exchange CommissionBased in Oshkosh, Wisconsin, the broker-dealer firm has about 10 registered reps overseeing some $1.3 billion in client assets.

The SEC cited alleged shortcomings in Hennig’s policies and procedures for meeting Reg BI, the 2020 rule that requires brokers to put their customers’ financial interests ahead of their own.

Read the full article from InvestmentNews.

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