FINRA Fines Aegis Capital Corporation

According to FINRA, Aegis Capital Corporation (CRD #15007, New York, New York) submitted a Letter of Acceptance, Waiver and Consent (AWC) in which the firm was censured; fined $52,000; ordered to pay $615.87, plus interest, in restitution to investors; and required to revise its WSPs.

Aegis Capital Corporation is a mid-size boutique investment bank that offers financial advisory services. The firm provides private placements, initial and secondary public offerings, and corporate consulting services. Additionally, it offers securities trading and brokerage services, according to Bloomberg. Aegis Capital Corporation was founded in 1984 and is based in New York, New York.

Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that its order memoranda failed to document the correct information regarding orders. The findings stated that these tickets improperly indicated that the orders were “held” orders.

The findings also stated that in transactions for or with a customer, the firm failed to execute a customer order fully and promptly.

For FINRA’s full findings see FINRA Case #2014039874901.

Aegis Capital Corp. Recent Investigation

According to an SEC filing in March, Aegis Capital Corp., is being investigated by three regulatory agencies, including the SEC, The Financial Industry Regulatory Authority Inc., the Securities and Exchange Commission and the Treasury Department’s Financial Crimes Enforcement Network, (FINCEN).

Aegis Capital Corp. has 27 disclosures listed on their BrokerCheck profile. In an August 2015 settlement with FINRA, the firm agreed to pay $950,000 over allegations of improper sales of billions of shares of unregistered penny stocks and anti-money- laundering supervisory lapses. Two former chief compliance officers at the firm also were suspended and fined over the charges.

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