Cantor Fitzgerald agreed to pay more than $151,000 as part of a settlement with the Financial Industry Regulatory Authority (FINRA) over alleged supervisory failures in respect to over-the-counter (OTC) securities.
Cantor failed to provide best execution for nearly 2,400 orders in OTC securities that it received from other broker-dealers, according to FINRA’s disciplinary action published Tuesday. The firm agreed to pay a $100,000 fine, more than $51,000 in restitution plus interest, and be censured.
