EDGAR System rendering: Application for Registration by a Transfer Agent
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM TA-1
OMB Approval
OMB Number: 3235-0084
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UNIFORM FORM FOR REGISTRATION AS A TRANSFER AGENT AND FOR AMENDMENT
TO REGISTRATION PURSUANT TO SECTION 17A OF THE
SECURITIES EXCHANGE ACT OF 1934
GENERAL:
Form TA-1 is to be used to register or amend registration as a transfer agent with the Comptroller of the Currency, the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation or the Securities and Exchange Commission pursuant to Section 17A of the Securities Exchange Act of 1934.
Read all instructions before completing this form. Please print or type all responses.
Form Version 3.4.0
1(a). Filer CIK:
0001630490
1(c). Live/Test Filing? Live Test
1(e). Is this filing an amendment to a previous filing?
Yes
2. Appropriate regulatory agency (check one) : Securities and Exchange Commission Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation Comptroller of the Currency Office of Thrift Supervision
3(a). Full Name of Registrant:
SunGard Investor Services LLC
3(b). Financial Industry Number Standard (FINS) number:
351841
3(c). Address of principal office where transfer agent activities are, or will be, performed:
3(c)(i). Address 1
3435 Stelzer Rd.
3(c)(ii). Address 2
3(c)(iii). City
Columbus
3(c)(iv). State or Country
OH OHIO
3(c)(v). Postal Code
43219
3(d). Is Mailing address different from response to Question 3c? If "yes," provide address(es):
Yes No
3(e). Telephone Number
(Include Area Code)
(614) 470-8000
4. Does registrant conduct, or will it conduct, transfer agent activities at any location other than that given in question 3c above? If "yes," provide address(es):
Yes No
5. Does registrant act, or will it act, as a transfer agent solely for its own securities and/or securities of an affiliate(s)?
Yes No
6. Has registrant, as a named transfer agent, engaged, or will it engage, a service company to perform any transfer agent functions?
Yes No
7. Has registrant been engaged, or will it be engaged, as a service company by a named transfer agent to perform transfer agent functions?
Yes No
If "yes," provide the name(s) and File Number(s) of the named transfer agent(s) for which the registrant has been engaged, or will be engaged, as a service company to perform transfer agent functions:
7(a). Name
Boston Trust & Investment Management, Inc.
7(b). File Number:085-00174
7(c)(i). Address 1
1 Beacon Street
7(c)(ii).Address 2
7(c)(iii).City
Boston
7(c)(iv).State or Country
MA
7(c)(v).Postal Code
02108
7(a). Name
Diamond Hill Capital Management, Inc.
7(b). File Number:084-06385
7(c)(i). Address 1
325 John H. McConnell Blvd.
7(c)(ii).Address 2
7(c)(iii).City
Columbus
7(c)(iv).State or Country
OH
7(c)(v).Postal Code
43215
Completion of Question 8 on this form is required by all independent, non-issuer registrants whose appropriate regulatory authority is the Securities and Exchange Commission. Those registrants who are not required to complete Question 8 should select "Not Applicable".
8. Is registrant a: OtherLimited Liability Company
Section for Initial Registration and for Amendments Reporting Additional Persons.
8(a)(i). Full Name
SunGard Investment Ventures LLC
8(a)(ii). Relationship Start Date
2014-12-23
8(a)(iii). Title or Status
Sole stockholder
8(a)(iv). Description of Authority
Sole stockholder
9. Does any person or entity not named in the answer to Question 8:
9(a). directly or indirectly, through agreement or otherwise exercise or have the power to exercise control over the management or policies of applicant; or . . . .
Yes No
9(a)(i). Exact name of each person or entity
SunGard Capital Corp.
9(a)(ii). Description of the Agreement or other basis
Indirect parent company
9(a)(i). Exact name of each person or entity
SunGard Capital Corp. II
9(a)(ii). Description of the Agreement or other basis
Indirect parent company
9(a)(i). Exact name of each person or entity
SunGard Holdco LLC
9(a)(ii). Description of the Agreement or other basis
Indirect parent company
9(a)(i). Exact name of each person or entity
SunGard Data Systems Inc.
9(a)(ii). Description of the Agreement or other basis
Indirect parent company
9(a)(i). Exact name of each person or entity
SunGard Holding Corp.
9(a)(ii). Description of the Agreement or other basis
Indirect parent company
9(b). wholly or partially finance the business of applicant, directly or indirectly, in any manner other than by a public offering of securities made pursuant to the Securities Act of 1933 or by credit extended in the ordinary course of business by suppliers, banks and others ? . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes No
10.Applicant and Control Affiliate Disciplinary History:
The following definitions apply for purposes of answering this Question 10
Control affiliate
- An individual or firm that directly or indirectly controls, is under common control with, or is controlled by applicant. Included are any employees identified in 8(a), 8(b), 8(c) of this form as exercising control. Excluded are any employees who perform solely clerical, administrative support of similar functions, or who, regardless of title, perform no executive duties or have no senior policy making authority.
Investment or investment related
- Pertaining to securities, commodities, banking, insurance, or real estate (including, but not limited to, acting as or being associated with a broker-dealer, investment company, investment adviser, futures sponsor, bank, or savings and loan association).
Involved
- Doing an act of aiding, abetting, counseling, commanding, inducing, conspiring with or failing reasonably to supervise another in doing an act.
10(a). In the past ten years has the applicant or a control affiliate been convicted of or plead guilty or nolo contender ("no contest") to:
10(a)(1). a felony or misdemeanor involving: investments or an investment-related business, fraud, false statements or omissions, wrongful taking of property, or bribery, forgery, counterfeiting or extortion? . . . . . . . . . . . .
10(b)(1). enjoined the applicant or a control affiliate in connection with any investment-related activity? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes No
10(b)(2). found that the applicant or a control affiliate was involved in a violation of investment-related statutes or regulations? . . . . .
Yes No
10(c). Has the U.S. Securities and Exchange Commission or the Commodity Futures Trading Commission ever:
10(c)(1). found the applicant or a control affiliate to have made a false statement or omission? . . . . . . . . . . . . . . . . . . . . . . . .
Yes No
10(c)(2). found the applicant or a control affiliate to have been involved in a violation of its regulations or statutes? . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes No
10(c)(3). found the applicant or a control affiliate to have been a cause of an investment-related business having its authorization to do business denied, suspended, revoked or restricted? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes No
10(c)(4). entered an order denying, suspending or revoking the applicant's or a control affiliate's registration or otherwise disciplined it by restricting its activities? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes No
10(d). Has any other Federal regulatory agency or any state regulatory agency:
10(d)(1). ever found the applicant or a control affiliate to have made a false statement or omission or to have been dishonest, unfair, or unethical? . . . . . .
Yes No
10(d)(2). ever found the applicant or a control affiliate to have been involved in a violation of investment-related regulations or statutes? . . . . . . . . . . . . . . . . .
10(d)(2)(iv). The Court or body taking the Action and its location
State of Nevada Office of the Secretary of State Securities Division
10(d)(2)(v). Description of the Action
FINE AND INSPECTION OF RECORDS FEES PAID FOR FOUR UNLISENCED NEVADA BRANCH OFFICES FROM 2003-2010.
10(d)(2)(vi). The disposition of the proceeding
$10,000 Monetary Fine and $1,000 fee paid for inspection of records.
10(d)(3). ever found the applicant or a control affiliate to have been a cause of an investment-related business having its authorization to do business denied, suspended, revoked, or restricted? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes No
10(d)(4). in the past ten years entered an order against the applicant or a control affiliate in connection with investment-related activity? . . . . . . . . . .
Yes No
10(d)(5). ever denied, suspended, or revoked the applicant's or a control affiliate's registration or license, or prevented it from associating with an investment-related business, or otherwise disciplined it by restricting its activities? . . . . . .
Yes No
10(d)(6). ever revoked or suspended the applicant's or a control affiliate's license as an attorney or accountant? . . . . . . . . . . . . . . . . . . . . . . . .
Yes No
10(e). Has any self-regulatory organization or commodities exchange ever:
10(e)(1). found the applicant or a control affiliate to have made a false statement or omission? . . . . . . . . . . . . . . . . . .
Yes No
10(e)(2). found the applicant or a control affiliate to have been involved in a violation of its rules? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes No
10(e)(2)(i). The individuals named in the Action
SunGard Brokerage & Securities Services LLC
10(e)(2)(ii). Title of Action
Case Number 2010025353101
10(e)(2)(iii). Date of Action
2014-10-06
10(e)(2)(iv). The Court or body taking the Action and its location
FINRA
10(e)(2)(v). Description of the Action
WITHOUT ADMITTING OR DENYING THE FINDINGS, THE FIRM CONSENTED TO THE SANCTIONS AND TO THE ENTRY OF FINDINGS THAT IT EXECUTED SHORT SALE TRANSACTIONS AND FAILED TO REPORT EACH OF THESE TRANSACTIONS TO THE FINRA/NASDAQ TRADE REPORTING FACILITY WITH A SHORT SALE MODIFIER. THE FINDINGS STATED THAT THE FIRM, ON 12,783 OCCASIONS, ACCEPTED A SHORT SALE ORDER IN AN EQUITY SECURITY FROM ANOTHER PERSON WITHOUT DOCUMENTING COMPLIANCE WITH SEC RULE 203(B)(1) OF REGULATION SHO. THE FIRM FAILED TO TAKE REASONABLE STEPS TO ESTABLISH THAT THE INTERMARKET SWEEP ORDERS IT ROUTED MET THE DEFINITIONAL REQUIREMENTS SET FORTH IN RULE 600(B)(30) OF REGULATION NMS.
10(e)(2)(vi). The disposition of the proceeding
$40,000 Monetary Fine and Censure.
10(e)(2)(i). The individuals named in the Action
SunGard Brokerage & Securities Services LLC
10(e)(2)(ii). Title of Action
Case Number 2011029998701
10(e)(2)(iii). Date of Action
2014-05-30
10(e)(2)(iv). The Court or body taking the Action and its location
FINRA
10(e)(2)(v). Description of the Action
WITHOUT ADMITTING OR DENYING THE FINDINGS, THE FIRM CONSENTED TO THE SANCTIONS AND TO THE ENTRY OF FINDINGS THAT IN TRANSACTIONS FOR OR WITH A CUSTOMER, THE FIRM FAILED TO EXECUTE ORDERS FULLY AND PROMPTLY. THE FINDINGS STATED THAT AS A RESULT, THE FIRM FAILED TO USE REASONABLE DILIGENCE TO ASCERTAIN THE BEST INTER-DEALER MARKET IN THESE TRANSACTIONS AND, THEREFORE, FAILED TO BUY OR SELL IN SUCH MARKET SO THAT THE RESULTANT PRICE TO ITS CUSTOMERS WAS AS FAVORABLE AS POSSIBLE UNDER PREVAILING MARKET CONDITIONS.
10(e)(2)(vi). The disposition of the proceeding
$12,500 Monetary Fine, $399.75 Restitution, plus interest, and Censure.
10(e)(2)(i). The individuals named in the Action
SunGard Brokerage & Securities Services LLC
10(e)(2)(ii). Title of Action
Case Number 2011030752101
10(e)(2)(iii). Date of Action
2014-03-11
10(e)(2)(iv). The Court or body taking the Action and its location
FINRA
10(e)(2)(v). Description of the Action
WITHOUT ADMITTING OR DENYING THE FINDINGS, THE FIRM CONSENTED TO THE SANCTIONS AND TO THE ENTRY OF FINDINGS THAT IT FAILED TO ESTABLISH, MAINTAIN, AND ENFORCE WRITTEN POLICIES AND PROCEDURES REASONABLY DESIGNED TO PREVENT THE EXECUTION OR DISPLAYS OF A SHORT SALE ORDER OF A COVERED SECURITY AT A PRICE THAT IS LESS THAN OR EQUAL TO THE CURRENT NATIONAL BEST BID.
10(e)(2)(vi). The disposition of the proceeding
$15,000 Monetary Fine and Censure.
10(e)(2)(i). The individuals named in the Action
SunGard Brokerage & Securities Services LLC
10(e)(2)(ii). Title of Action
Case Number 2011026107701
10(e)(2)(iii). Date of Action
2013-09-12
10(e)(2)(iv). The Court or body taking the Action and its location
FINRA
10(e)(2)(v). Description of the Action
SUNGARD BROKERAGE & SECURITIES SERVICES LLC TRANSMITTED REPORTS TO THE ORDER AUDIT TRAIL SYSTEM (OATS) THAT CONTAINED INACCURATE ACCOUNT TYPE, MEMBER TYPE AND SPECIAL HANDLING CODES; INACCURATE MARKET PARTICIPANT IDENTIFIERS (MPIDS); AND DUPLICATIVE AND/OR INACCURATE ORDER REPORTS. THE FIRM'S SUPERVISORY SYSTEM DID NOT PROVIDE FOR SUPERVISION REASONABLY DESIGNED TO ACHIEVE COMPLIANCE WITH APPLICABLE SECURITIES LAWS, REGULATIONS AND/OR FINRA RULES ADDRESSING QUALITY OF MARKET TOPICS. THE FIRM'S WRITTEN SUPERVISORY PROCEDURES (WSPS) FAILED TO PROVIDE FOR MINIMUM REQUIREMENTS FOR ADEQUATE SUPERVISORY PROCEDURES IN ORDER HANDLING: DISCLOSURE OF ORDER ROUTING INFORMATION; SALES TRANSACTIONS: AFFIRMATIVE DETERMINATIONS; AND SOFT DOLLAR ACCOUNTS AND TRADING: PREPARING RECORDS, OPERATING OUTSIDE SEC-ESTABLISHED SAFE HARBOR, RECORDS OF RESEARCH OR OTHER SERVICES PROVIDED. THE FIRM FAILED TO PROVIDE DOCUMENTARY EVIDENCE THAT IT PERFORMED THE SUPERVISORY REVIEWS SET FORTH IN ITS WSPS CONCERNING THE USE OF MULTIPLE MPIDS.
10(e)(2)(vi). The disposition of the proceeding
$30,000 Monetary Fine, Censure and required to revise its WSPS.
10(e)(2)(i). The individuals named in the Action
SunGard Brokerage & Securities Services LLC
10(e)(2)(ii). Title of Action
Case Number 12-0109
10(e)(2)(iii). Date of Action
2013-03-18
10(e)(2)(iv). The Court or body taking the Action and its location
Chicago Board Options Exchange
10(e)(2)(v). Description of the Action
SUNGARD BROKERAGE & SECURITIES SERVICES LLC, CBSX TRADING PERMIT HOLDER, WAS CENSURED AND FINED $5,000 FOR THE FOLLOWING CONDUCT: SUNGARD FAILED TO REGISTER THE MINIMUM NUMBER OF INDIVIDUALS REQUIRED TO REGISTER AS A PROPRIETARY TRADER PRINCIPAL IN WEBCRD BY NOVEMBER 5, 2011.
10(e)(2)(vi). The disposition of the proceeding
$5,000 Monetary Fine and Censure.
10(e)(2)(i). The individuals named in the Action
SunGard Brokerage & Securities Services LLC
10(e)(2)(ii). Title of Action
Case Number 2011026301801
10(e)(2)(iii). Date of Action
2013-03-06
10(e)(2)(iv). The Court or body taking the Action and its location
NASDAQ Stock Market
10(e)(2)(v). Description of the Action
SUNGARD BROKERAGE & SECURITIES SERVICES LLC FAILED TO REASONABLY AVOID DISPLAYING, AND ENGAGED IN A PATTERN OR PRACTICE OF DISPLAYING, QUOTATIONS THAT LOCK OR CROSSED A PROTECTED QUOTATION, IN THAT, IT ENTERED INTERMARKET SWEEP OFFERS INTO THE NASDAQ SINGLE BOOK EXECUTION SYSTEM THAT LOCKED OR CROSSED QUOTATION PREVIOUSLY DISSEMINATED PURSUANT TO AN EFFECTIVE NATIONAL MARKET SYSTEM PLAN AND FAILED TO SIMULTANEOUSLY ROUTE AN INTERMARKET SWEEP ORDER TO EXECUTE AGAINST THE FULL DISPLAYED SIZE OF THE LOCKED OR CROSSED PROTECTED QUOTE.
10(e)(2)(vi). The disposition of the proceeding
$7,500 Monetary Fine and Censure.
10(e)(2)(i). The individuals named in the Action
SunGard Brokerage & Securities Services LLC
10(e)(2)(ii). Title of Action
Case Number 20110275360
10(e)(2)(iii). Date of Action
2011-10-21
10(e)(2)(iv). The Court or body taking the Action and its location
FINRA on behalf of NYSE Regulation and NYSE Arca Options
10(e)(2)(v). Description of the Action
FINRA ALLEGED THAT THERE WAS A MINOR MARKET REGULATION VIOLATION - THE FIRM'S WRITTEN SUPERVISORY PROCEDURES WITH REGARD TO NYSE ARCA OPTIONS RULE 6.6(A) IN EFFECT BETWEEN JANUARY 19, 2010 AND DECEMBER 31, 2011 WERE INADEQUATE IN THAT THEY DID NOT HAVE A SET OF REVIEWS IN PLACE FOR LOPR REJECTS OR FOR ENSURING THE ACCURACY OF THE FIRM'S LOPR RECORDS.
10(e)(2)(vi). The disposition of the proceeding
$3,500 Monetary Fine, and required to revise its WSPS.
10(e)(2)(i). The individuals named in the Action
SunGard Brokerage & Securities Services LLC
10(e)(2)(ii). Title of Action
Case Number 2011026800801
10(e)(2)(iii). Date of Action
2012-10-12
10(e)(2)(iv). The Court or body taking the Action and its location
FINRA
10(e)(2)(v). Description of the Action
THE FIRM FAILED TO TIMELY REPORT TO THE ORDER AUDIT TRAIL SYSTEM (OATS) REPORTABLE ORDER EVENTS; TRANSMITTED TO OATS ROUTE AND COMBINED ORDER/ROUTE REPORTS THAT THE OATS SYSTEM WAS UNABLE TO LINK TO THE RELATED ORDER ROUTED TO NASDAQ DUE TO INACCURATE, INCOMPLETE OR IMPROPERLY FORMATTED DATA; TRANSMITTED TO OATS ROUTE OR COMBINED ORDER/ROUTE REPORTS THAT THE OATS SYSTEM WAS UNABLE TO LINK TO THE CORRESPONDING NEW ORDER TRANSMITTED BY THE DESTINATION MEMBER FIRM DUE TO INACCURATE, INCOMPLETE OR IMPROPERLY FORMATTED DATA; AND TRANSMITTED TO OATS NEW ORDER REPORTS THAT THE OATS SYSTEM WAS UNABLE TO LINK TO THE PRECEDING ROUTE OR COMBINED ORDER/ROUTE REPORTS TRANSMITTED BY OTHER MEMBER FIRMS DUE TO INACCURATE, INCOMPLETE OR IMPROPERLY FORMATTED DATA.
10(e)(2)(iv). The Court or body taking the Action and its location
FINRA
10(e)(2)(v). Description of the Action
ASSENT LLC TRANSMITTED TO THE ORDER AUDIT TRAIL SYSTEM (OATS) REPORTS THAT CONTAINED INACCURATE, INCOMPLETE OR IMPROPERLY FORMATTED DATA; REPORTS CONTAINED INCORRECT CUSTOMER IDENTIFICATION FLAGS, INCORRECTLY INCLUDED IMMEDIATE OR CANCEL TIME IN FORCE INSTRUCTIONS, FAILED TO INCLUDE THE SPECIAL HANDLING CODE, AND ONE REPORT CONTAINED AN INACCURATE CANCELLATION TIME. THE FIRM FAILED TO TRANSMIT ONE CUSTOMER ORDER TO OATS. THE FIRM MADE AVAILABLE A REPORT ON THE COVERED ORDERS IN NATIONAL MARKET SYSTEM SECURITIES IT RECEIVED FOR EXECUTION FROM ANY PERSON THAT INCLUDED INCORRECT INFORMATION AS TO THE NUMBER OF COVERED ORDERS. THE FIRM MADE PUBLICLY AVAILABLE A REPORT ON ITS ROUTING OF NON-DIRECTED ORDERS IN COVERED SECURITIES THAT INCLUDED INCOMPLETE INFORMATION AS TO OPTIONS LISTED SECURITIES. THE FIRM'S SUPERVISORY SYSTEM DID NOT PROVIDE FOR SUPERVISION REASONABLY DESIGNED TO ACHIEVE COMPLIANCE WITH RESPECT TO SEC RULES 611(A)(2) AND (C) OF REGULATION NMS. THE FIRM'S SUPERVISORY SYSTEM DID NOT PROVIDE FOR SUPERVISION REASONABLY DESIGNED TO ACHIEVE COMPLIANCE WITH APPLICABLE SECURITIES LAWS, REGULATIONS AND/OR NASD RULES ADDRESSING QUALITY OF MARKET TOPICS. THE FIRM'S WRITTEN SUPERVISORY PROCEDURES FAILED TO PROVIDE FOR MINIMUM REQUIREMENTS FOR ADEQUATE WRITTEN SUPERVISORY PROCEDURES IN ORDER HANDLING SEC RULE 606 AND SEC RULE 605; BEST EXECUTION NASD RULES 2320 AND 3110 - REGULAR AND RIGOROUS REVIEW, THREE QUOTE RULE; TRADE REPORTING MODIFIERS; SALES TRANSACTIONS - REGULATION SHO RULE 204(A)(3)(B); OTHER TRADING RULES - NASD RULE 3340 AND FINRA RULE 6460 - TRADING THROUGH A TRADING HALT; OTHER RULES - SEC RULE 612(A) - SUB PENNY TRANSACTIONS; MULTIPLE MARKET PARTICIPANT IDENTIFIERS - FINRA RULE 6160; AND RULES APPLICABLE TO ALTERNATIVE TRADING SYSTEMS AND ELECTRONIC COMMUNICATIONS NETWORKS - SEC RULE 201(B) - CHARGING INCONSISTENT FEES, 5% THRESHOLD, 20% THRESHOLD AND ATS TRADE REPORTING FACILITY REPORTING.
10(e)(2)(vi). The disposition of the proceeding
$37,500 Monetary Fine, Censure and required to revise its WSPS.
10(e)(2)(iv). The Court or body taking the Action and its location
Chicago Board Options Exchange
10(e)(2)(v). Description of the Action
ASSENT LLC, A CBOE STOCK EXCHANGE TRADING PERMIT HOLDER REGISTERED TO CONDUCT A PROPRIETARY TRADING BUSINESS, WAS CENSURED AND FINED $75,000 FOR THE FOLLOWING CONDUCT. ASSENT FAILED TO ADHERE TO JUST AND EQUITABLE PRINCIPLES OF TRADE THROUGH ITS ASSOCIATED PERSON, [NAME REDACTED]. DURING THIS PERIOD, [NAME REDACTED] EFFECTED NUMEROUS TRANSACTIONS IN WHICH HE PURCHASED AND SOLD (OR SOLD SHORT AND PURCHASED) NUMEROUS SHARES OF STOCK, INCLUDING OF LIQUID SECURITIES, OVER A SHORT DURATION OF TIME WHICH, IN CERTAIN INSTANCES, BRIEFLY AFFECTED THE PRICE OF THE UNDERLYING SECURITY AND, SUBSEQUENTLY, [NAME REDACTED] PURCHASED AND/OR SOLD NUMEROUS CORRESPONDING OPTIONS CONTRACTS IN THAT SECURITY. AS A RESULT [NAME REDACTED] INAPPROPRIATELY CAPITALIZED ON PRICE MOVEMENTS IN CORRESPONDING OPTIONS. IN ADDITION, ASSENT FAILED TO ADEQUATELY SUPERVISE [NAME REDACTED] BY FAILING TO ENFORCE A TRADING RESTRICTION IMPLEMENTED BY ASSENT.
10(e)(2)(iv). The Court or body taking the Action and its location
FINRA
10(e)(2)(v). Description of the Action
ASSENT LLC SUBMITTED SHORT INTEREST POSITION REPORTS IN NASDAQ, OTC, AMEX AND NYSE-LISTED SECURITIES TO NASD THAT WERE INCORRECT. THE FIRM'S SUPERVISORY SYSTEM DID NOT PROVIDE FOR SUPERVISION REASONABLY DESIGNED TO ACHIEVE COMPLIANCE WITH APPLICABLE SECURITIES LAWS, REGULATIONS AND NASD RULES CONCERNING SHORT INTEREST REPORTING. THE FIRM TRANSMITTED TO THE ORDER AUDIT TRAIL SYSTEM (OATS) REPORTS THAT DID NOT INCLUDE THE SPECIAL HANDLING CODE, CONTAINED INACCURATE TIMESTAMPS OR CONTAINED INACCURATE ORDER RECEIPT TIMES. THE FIRM'S SUPERVISORY SYSTEM DID NOT PROVIDE FOR SUPERVISION REASONABLY DESIGNED TO ACHIEVE COMPLIANCE WITH APPLICABLE SECURITIES LAWS, REGULATIONS AND/OR NASD RULES ADDRESSING QUALITY OF MARKET TOPICS. THE FIRM'S WRITTEN SUPERVISORY PROCEDURES FAILED TO PROVIDE FOR MINIMUM REQUIREMENTS FOR ADEQUATE WRITTEN SUPERVISORY PROCEDURES IN ORDER HANDING SEC RULES 606(B)(65) AND (73) AND 602(B)(1) AND (4); BEST EXECUTION NASD RULES 2320 AND 3110 - REGULAR AND RIGOROUS REVIEW, THREE QUOTE RULE; TRADE REPORTING MODIFIERS; SALES TRANSACTIONS - REGULATION SHO RULE 204(T); SEC RULE 10B-21; INFORMATION BARRIERS - NASD RULE 3010 AND FINRA RULE 2010; AND BOOKS AND RECORDS - SEC RULES 17A-3 AND 17A-4 AND NASD RULE 3110(B).
10(e)(2)(vi). The disposition of the proceeding
$65,000 Monetary Fine, Censure and required to revise its WSPS.
10(e)(2)(iv). The Court or body taking the Action and its location
FINRA
10(e)(2)(v). Description of the Action
ASSENT LLC PERMITTED A THEN PROPRIETARY TRADER AND ASSOCIATED PERSON TO ENGAGE IN PROPRIETARY FIRM OPTIONS TRADING WHEN HE WAS NOT PROPERLY LICENSED TO DO SO AND, AS A RESULT THE FIRM FAILED TO REGISTER A PERSON ENGAGED IN ITS INVESTMENT BANKING OR SECURITIES BUSINESS IN THE CATEGORY OF REGISTRATION APPROPRIATE TO THE FUNCTION TO BE PERFORMED AS SPECIFIED IN NASD RULE 1032. THE FIRM'S WRITTEN SUPERVISORY PROCEDURES REQUIRED ALL PROPRIETARY TRADERS TO POSSESS THE SERIES 7 GENERAL SECURITIES REPRESENTATIVE AND SERIES 55 EQUITY TRADERS LIMITED REPRESENTATIVE LICENSE (AND SERIES 63 QUALIFICATION) AND PROVIDED FOR NO EXCEPTIONS UNLESS APPROVALS WERE OBTAINED AND THE TRADER'S ACTIVITIES WERE RESTRICTED UNTIL THE LICENSING DEFICIENCY WAS RECTIFIED; THE ASSOCIATED PERSON POSSESSED NONE OF THE LICENSES REQUIRED BY THE FIRM NOR WERE ACTIVITIES RESTRICTED. AS A RESULT, THE FIRM FAILED TO ENFORCE ITS WRITTEN SUPERVISORY PROCEDURES BY ALLOWING THE ASSOCIATED PERSON TO DISREGARD FINRA LICENSING REQUIREMENTS AND THE FIRM'S INTERNAL LICENSING REQUIREMENTS APPLICABLE TO ITS PROPRIETARY TRADERS. THE FIRM FAILED TO ENFORCE WRITTEN INTERNAL FIRM TRADING LIMITS THAT APPLIED TO THE ASSOCIATED PERSON BY FAILING TO ENFORCE ITS WRITTEN SUPERVISORY PROCEDURES CONCERNING THE IMPOSITION OF INDIVIDUAL TRADING LIMITS ON PROPRIETARY TRADERS BY FAILING TO TAKE ADEQUATE STEPS TO ENSURE THE ASSOCIATED PERSON AND OTHER RELEVANT ASSOCIATED PERSONS OF THE FIRM UNDERSTOOD THE MEANING AND APPLICATION OF THE TERMS OF THE ASSOCIATED PERSON'S INDIVIDUAL TRADING LIMITS AND ALLOWING THE ASSOCIATED PERSON TO EXCEED HIS INDIVIDUAL TRADING LIMITS ON SEVERAL OCCASIONS.
10(e)(2)(iv). The Court or body taking the Action and its location
NASDAQ Stock Market
10(e)(2)(v). Description of the Action
ASSENT LLC'S SUPERVISORY SYSTEM AND WRITTEN SUPERVISORY PROCEDURES WERE NOT REASONABLY DESIGNED TO ACHIEVE COMPLIANCE WITH APPLICABLE SECURITIES LAWS AND REGULATIONS INCLUDING NASD NOTICE TO MEMBERS 04-66) AND NASDAQ RULES CONCERNING THE PREVENTION OF ERRONEOUS ORDERS AND TRANSACTIONS AND FRIVOLOUS CLEARLY ERRONEOUS TRANSACTION COMPLIANT.
10(e)(2)(vi). The disposition of the proceeding
$10,000 Monetary Fine, Censure and required to revise its WSPS.
10(e)(2)(iv). The Court or body taking the Action and its location
FINRA
10(e)(2)(v). Description of the Action
ASSENT LLC ACCEPTED CUSTOMER SHORT ORDERS THROUGH A TRADING PLATFORM FOR INSTITUTIONAL CUSTOMERS, AND FOR EACH ORDER, FAILED TO MAKE AN AFFIRMATIVE DETERMINATION THAT THE FIRM WOULD RECEIVE DELIVERY OF THE SECURITY ON BEHALF OF THE CUSTOMER OR THAT THE FIRM COULD BORROW THE SECURITY ON BEHALF OF THE CUSTOMER FOR DELIVERY BY SETTLEMENT DATE.
10(e)(2)(iv). The Court or body taking the Action and its location
FINRA
10(e)(2)(v). Description of the Action
ASSENT LLC TRANSMITTED TO OATS REPORTS THAT CONTAINED INACCURATE, INCOMPLETE OR IMPROPERLY FORMATTED DATA IN THAT OATS WAS UNABLE TO MATCH THE REPORTS TO THE IDENTIFIED RECEIVING FIRM'S RELATED NEW ORDER REPORTS; OATS WAS UNABLE TO MATCH THE REPORTS TO THE RELATED REPORTS IN SUPERMONTAGE OR SELECTNET; AND THE FIRM INACCURATELY DENOTED LIMIT ORDERS AS MARKET ORDERS AND FAILED TO INCLUDE THE TIME-IN-FORCE IN NEW ORDER REPORTS. THE FIRM FAILED TO REPORT TO THE NASDAQ MARKET CENTER THE CORRECT SYMBOL INDICATING WHETHER THE FIRM EXECUTED TRANSACTIONS IN ELIGIBLE SECURITIES IN A PRINCIPAL OR AGENCY CAPACITY.
10(e)(2)(iv). The Court or body taking the Action and its location
NASD
10(e)(2)(v). Description of the Action
ASSENT LLC FAILED TO SUBMIT ACCURATE TRADING INFORMATION THROUGH THE SUBMISSION OF ELECTRONIC BLUE SHEETS IN RESPONSE TO REQUESTS FROM NASD; THE INACCURACIES WERE SYSTEMIC AND INCLUDED THE REPORTING OF SHORT SALES AS LONG SALES. THE FIRM'S SUPERVISORY SYSTEM DID NOT PROVIDE FOR SUPERVISION REASONABLY DESIGNED TO ACHIEVE COMPLIANCE WITH APPLICABLE SECURITIES LAWS, REGULATIONS AND NASD RULES CONCERNING THE SUBMISSION OF ELECTRONIC BLUE SHEET DATA AS REQUIRED BY NASD RULES 8211 AND 8213.
10(e)(2)(iv). The Court or body taking the Action and its location
NASD
10(e)(2)(v). Description of the Action
ASSENT LLC SUBMITTED REPORTS TO OATS THAT CONTAINED INACCURATE, INCOMPLETE OR IMPROPERLY FORMATTED DATA.
10(e)(2)(vi). The disposition of the proceeding
$7,500 Monetary Fine and Censure.
10(e)(3). found the applicant or a control affiliate to have been the cause of an investment-related business losing its authorization to do business? . . . . . . . .
Yes No
10(e)(4). disciplined the applicant or a control affiliate by expelling or suspending it from membership, by barring or suspending its association with other members, or by otherwise restricting its activities? . . . . . . . . . . . . . . . .
Yes No
10(f). Has any foreign government, court, regulatory agency, or exchange ever entered an order against the applicant or a control affiliate related to investments or fraud? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes No
10(g). Is the applicant or a control affiliate now the subject of any proceeding that could result in a yes answer to questions 10(a) - 10(F)?
Yes No
10(h). Has a bonding company denied, paid out on, or revoked a bond for the applicant or a control affiliate? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes No
10(i). Does the applicant or a control affiliate have any unsatisfied judgments or liens against it? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Yes No
ATTENTION: INTENTIONAL MISSTATEMENTS OR OMISSIONS OF FACT
CONSTITUTE FEDERAL CRIMINAL VIOLATIONS. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a)
SIGNATURE: The registrant submitting this form, and as required, the SEC supplement and Schedules A-D,
And the executing official hereby represent that all the information contained herein is true, correct and complete.
11(a). Signature of Official responsible for Form:
