Action against Respondent, a broker-dealer, for alleged failure to file Suspicious Activity Reports (SARs).  According to the SEC, Respondent failed to submit SARs for certain transactions, despite red flags that the transactions were being used to hide the customer’s involvement in a payday-lending business.  Respondent has agreed to retain a compliance consultant for a period of two years and to pay $400,000 in a related civil forfeiture action brought by the U.S. Attorney’s Office for S.D.N.Y.

SEC Order 

SEC Administrative Summary