Mma Securities Llc

Allegations: RESPONDENT SELF-REPORTED THAT BETWEEN 2010 AND 2014, RESPONDENT GIFTED TICKETS IN EXCESS OF $250.00 TO SPORTING EVENTS, CONCERTS, AND/OR GOLF TOURNAMENTS TO PERSONS, WHO WERE EMPLOYED BY IN-FORCE POLICY HOLDERS WHO PURCHASED INSURANCE THROUGH MMA AND/OR RESPONDENT WHICH WERE NOT SPECIFIED IN THE CONTRACT TO PURCHASE INSURANCE IN VIOLATION OF NEW JERSEY STATUTES. Status: Final Sanction Detail: ORDERED AND AGREED THAT RESPONDENT MMA SHALL PAY A FINE IN THE AMOUNT OF $50,000 TO THE DEPARTMENT. Summary: ORDERED AND AGREED THAT RESPONDENT MMA SHALL PAY A FINE IN THE AMOUNT OF $50,000 TO THE DEPARTMENT.

Allegations: ON OR ABOUT JANUARY 2010 THROUGH THE FIRST TWO QUARTERS OF 2013, RESPONDENT MISREPRESENTED THE EMPLOYEE CENSUS DATA OF INSURED AS TO THE ACTUAL NUMBER OF WORKERS EMPLOYED OUTSIDE OF NEW JERSEY. Status: Final Sanction Detail: ORDERED AND AGREED, THAT THE RESPONDENT PAYS A FINE IN THE AMOUNT OF $15,000.00 TO THE DEPARTMENT. Summary: ORDERED AND AGREED, THAT THE RESPONDENT PAYS A FINE IN THE AMOUNT OF $15,000.00 TO THE DEPARTMENT.

Allegations: DURING THE RELEVANT PERIOD, THE MEMBER FIRM APPROVED SEVERAL OUTSIDE BUSINESS ACTIVITIES WITHOUT EVALUATING AND DOCUMENTING ITS EVALUATION OF WHETHER SUCH ACTIVITIES WOULD INTERFERE WITH OR OTHERWISE COMPROMISE THE REGISTERED PERSON'S RESPONSIBILITIES TO THE FIRM OR THE FIRM'S CUSTOMERS, OR BE VIEWED AS PART OF THE FIRM'S BUSINESS, WHETHER THEY SHOULD BE RESTRICTED OR PROHIBITED, AND WHETHER THEY SHOULD BE TREATED AS OUTSIDE SECURITIES ACTIVITIES AS REQUIRED BY FINRA RULES. THEREFORE, THE FIRM VIOLATED FINRA RULES 3110, 3270.01, AND 2010. Status: Final Sanction Detail: THE FIRM PAID A $30000 FINE ON 1/16/2024 AND NO PORTION OF THE PENALTY WAS WAIVED. Summary: THE SETTLEMENT HAS BEEN ACCEPTED BY FINRA'S NATIONAL ADJUDICATORY COUNCIL, AND THE FIRM HAS PAID THE FINE AND BEGUN THE UNDERTAKING WHICH MUST BE COMPLETED AND PROVIDED TO FINRA BY MARCH 2024.