Fny Investment Advisers, Llc

Allegations: IN 1990 MR. MOTSCHWILLER'S WIFE WAS DEEMED AN ASSOCIATED PERSON VIA HIS REGISTRATION. SHE PARTICIPATED IN AN IPO WHICH WAS DEEMED A HOT ISSUE. THE TOTAL PENALTY WAS $13,250; CONSISTING OF A FINE IN THE AMOUNT OF $2,000 AND DISGORGEMENT OF $11,250. Status: Final Sanction Detail: FINE AND DISGORGEMENT TOTALING $13,250. $2,000 FINE WAS LEVIED AND DISGORGEMENT OF $11,250. FINE FULLY PAID AS OF OCTOBER 31, 1991. Summary: MR. MOTSCHWILLER OFFERED A SETTLEMENT AMOUNT OF $13,250, WHICH THE NASD ACCEPTED. RESULTED IN CENSURE AND FINE AND DISGORGEMENT TOTALING $13,250. $2,000 FINE WAS LEVIED AND DISGORGEMENT OF $11,250. FINE FULLY PAID AS OF OCTOBER 31, 1991.

Allegations: SECTION 15(A)(1) OF THE SECURITIES EXCHANGE ACT, NASDAQ QMX PHLX, LLC RULES 603, 707, 748(G) - DAVID ABRAMSON'S MEMBER FIRM PURSUANT TO AN ARRANGEMENT BETWEEN THE FIRM AND A NON-BROKER-DEALER ENTITY SHARED ENUMERATIONS DERIVED FROM TRADING-RELATED REVENUES AT A BRANCH OFFICE WITH AN ENTITY NOT REGISTERED WITH THE COMMISSION AS A BROKER-DEALER IN ACCORDANCE WITH SECTION 15(B) OF THE EXCHANGE ACT. THE FIRM SHARED AND JOINTLY OCCUPIED THE BRANCH OFFICE WITH AN ENTITY THAT WAS NOT A MEMBER OF THE EXCHANGE AND THAT OPERATED AN INTERNET CHAT ROOM WITHOUT REQUESTING OR SECURING APPROVAL OR A WAIVER FROM THE ECHANGE TO ENTER INTO, OT TO MAINTAIN, THE JOINT OCCUPANCY OF ITS OFFICE WITH THE NON-MEMBER. ABRAMSON, AS THE FIRM'S CHIEF OPERATING OFFICER (COO) FAILED TO SUPERVISE, INCLUDING FAILING TO IMPLEMENT A SUPERVISORY SYSTEM OR CONTROLS TO MONITOR, REVIEW AND OVERSEE, THE BRANCH OFFICE. THE ASSOCIATED PERSON DESIGNATED AS THE BRANCH MANAGER AT THE OFFICE, AND THE ACTIVITIES OF TRADERS AT THE OFFICE, TO ENSURE COMPLIANCE WITH APPLICABLE SECURITIES LAWS AND REGULATIONS, INCLUDING THE RULES AND BY-LAWS OF THE EXCHANGE. SPECIFICALLY, THE FIRM AND ABRAMSON FAILED TO IMPLEMENT CONTROLS REASONABLY DESIGNED TO PRECENT AND DETECT, AND THEY FAILED TO SUPERVISE THE OFFICE, ITS BRANCH MANAGER AND THE ACTIVITIES OF TRADERS IN THE OFFICE WITH A VIEW TOWARD PREVENTING AND DETECTING: (1) THE PAYMENT OF TRANSACTION-BASED COMPENSATION TO AN UNREGISTERED BROKER-DEALER; (2) VIOLATIONS OF THE FIRM'S WRITTEN SUPERVISORY PROCEDURES (WSPS) PROHIBITING THIRD-PARTY FUNDING OF TRADING ACCOUNTS AND PARTICIPATION BY ITS ASSOCIATED PERSONS IN INTERNET CHAT ROOMS; AND (3) JOINT OCCUPANCY OF THE BRANCH OFFICE WITH A NON-MEMBER FIRM AND UNREGISTERED PERSONS. ABRAMSON FAILED TO ESTABLISH, MAINTAIN AND ENFORCE WSPS, AND A SYSTEM OF SUPERVISION, THAT REASONABLY: (1) ADDRESSED THE SUPERVISORY RESPONSIBILITIES OF THE BRANCH MANAGER OF THE OFFICE; (2) APPRISED THE BRANCH MANAGER, OF HIS SUPERVISORY RESPONSIBILITIES; AND (3) PROVIDED FOR ONGOING SUPERVISION OF THE OFFICE DURING THE BRANCH MANAGER'S ABSENCE. ABRAMSON FAILED TO DETECT THE PRESENCE OF SEVERAL INDIVIDUALS IN THE OFFICE WHO WERE NOT EMPLOYED BY OTHERWISE ASSOCIATED WITH THE FIRM, OR FAILED TO DETECT AND PREVENT SUCH INDIVIDUALS FROM TRADING SECURITIES FOR THEIR PERSONAL ACCOUNTS WHILE PHYSICALLY PRESENT AT THE OFFICE WITHOUT BEING REGISTERED WITH THE EXCHANGE. Status: Final Sanction Detail: ANY SUPERVISORY CAPACITY FOR 20 DAYS COMMENCING ON 12/31/2013 AND ENDING ON 1/19/2014. TOTAL AMOUNT OF THE FINE WAS $100,000, $100,000 WAS LEVIED ON MR. ABRAMSON. MR. ABRAMSON PAID THE FINE ON 12/20/2013. NO PORTION OF THE FINE WAS WAIVED. Summary: WITHOUT ADMITTING OR DENYING THE ALLEGATIONS, ABRAMSON CONSENTED TO THE DESCRIBED SANCTIONS AND TO THE ENTRY OF FINDINGS; THEREFORE, HE WAS CENSURED, FINED $100,000, JOINTLY AND SEVERALLY WITH THE FIRM, AND WAS SUSPENDED FOR 20 DAYS FROM ACTING IN A SUPERVISORY CAPACITY. THE SUPERVISORY SUSPENSION HAS BEEN SUCCESSFULLY COMPLETED.

Allegations: A TRADER FORMERLY ASSOCIATED WITH FNY PARTNERS FUND LP ENGAGED IN MULTIPLE INSTANCES OF THE DISRUPTIVE TRADING PRACTICE KNOWN AS "SPOOFING" INVOLVING SOYBEAN FUTURES CONTRACTS, GOLD FUTURES CONTRACTS, AND CRUDE OIL FUTURES CONTRACTS, TRADED ON CHICAGO BOARD OF TRADE, COMMODITY EXCHANGE, AND NEW YORK MERCANTILE EXCHANGE. Status: Final Sanction Detail: FNY PARTNERS FUND LP PAID A FINE IN THE AMOUNT OF $450,000 ON SEPTEMBER 30, 2020. NO PORTION OF THE FINE WAS WAIVED. Summary: FNY PARTNERS FUND LP PAID A FINE IN THE AMOUNT OF $450,000 ON SEPTEMBER 30, 2020. THE TRADER WAS FINED $135,000. FNY IS PROACTIVELY ENGAGED IN REMEDIAL MEASURES, INCLUDING CONDUCTING SPOOFING TRAINING AND IMPLEMENTING AN AUTOMATED TRADE SURVEILLANCE SYSTEM FOR FUTURES TRADING.