FINRA Fine Imposed on T3 Trading Group for failing to publish reports and maintain effective supervisory compliance systems.
FINRA Fine Imposed on T3 Trading Group for failing to publish reports and maintain effective supervisory compliance systems.
T3 Trading Group, LLC has agreed to pay a $175,000 fine as part of a settlement with the Financial Industry Regulatory Authority (FINRA). The action comes after regulators found that the firm failed to meet its obligations regarding the publication of quarterly reports on the handling of customer orders in National Market System (NMS) securities.
According to FINRA, the violations spanned from April 2020 to April 2025 and reflected serious shortcomings in the firm’s compliance and supervisory practices. Investigators determined that from April 2020 to July 2021, T3 did not publish any of the required quarterly reports.
Furthermore, between July 2021 and April 2025, the reports that the firm released contained little or no of the mandated information. Because of these lapses, FINRA concluded that the company violated Rule 606(a) of Regulation NMS under the Securities Exchange Act of 1934 as well as FINRA Rule 2010. Regulators stressed that such failures undermine market transparency, which plays a critical role in investor confidence.
In addition to the reporting issues, FINRA found that T3 failed to establish and maintain a supervisory system, including written supervisory procedures, that reasonably ensured compliance with Rule 606(a) from January 2020 to the present. Consequently, the firm was also cited for violating FINRA Rules 3110 and 2010.
As part of the settlement, T3 did not admit or deny the findings but consented to the sanctions. The firm accepted a censure, the $175,000 fine, and an undertaking to implement corrective actions to prevent future violations. T3 joined FINRA in October 2019 and operates its headquarters in New York.
The company operates four branch offices and employs about 200 registered representatives. The firm primarily focuses on day trading and proprietary trading in exchange-listed equity securities, equity options, and futures. Since January 2020, T3 has also offered retail day-trading services. Despite the penalty, the firm remains active in the trading industry, though regulators expect significant improvements in its compliance efforts moving forward.
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